ABIVAX Société Anonyme (NASDAQ:ABVX) Shares Gap Down – What’s Next?

ABIVAX Société Anonyme (NASDAQ:ABVX)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $8.81, but opened at $8.53. ABIVAX Société Anonyme shares last traded at $8.52, with a volume of 5,397 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. JMP Securities started coverage on shares of ABIVAX Société Anonyme in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $33.00 price objective on the stock. Citizens Jmp upgraded ABIVAX Société Anonyme to a “strong-buy” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, ABIVAX Société Anonyme has an average rating of “Buy” and a consensus target price of $38.67.

ABIVAX Société Anonyme Price Performance

The company’s 50 day simple moving average is $9.73 and its 200 day simple moving average is $11.51.

Institutional Trading of ABIVAX Société Anonyme

A number of institutional investors and hedge funds have recently modified their holdings of ABVX. BNP Paribas Financial Markets boosted its position in ABIVAX Société Anonyme by 82.6% in the third quarter. BNP Paribas Financial Markets now owns 13,044 shares of the company’s stock worth $150,000 after purchasing an additional 5,900 shares during the last quarter. Walleye Capital LLC grew its position in ABIVAX Société Anonyme by 45.8% during the third quarter. Walleye Capital LLC now owns 257,417 shares of the company’s stock valued at $2,965,000 after buying an additional 80,807 shares during the period. abrdn plc increased its holdings in ABIVAX Société Anonyme by 167.7% during the third quarter. abrdn plc now owns 316,431 shares of the company’s stock worth $3,645,000 after buying an additional 198,225 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its position in ABIVAX Société Anonyme by 28.2% in the third quarter. Point72 Asset Management L.P. now owns 542,900 shares of the company’s stock worth $6,254,000 after acquiring an additional 119,300 shares during the period. 47.91% of the stock is owned by hedge funds and other institutional investors.

ABIVAX Société Anonyme Company Profile

ABIVAX Société Anonyme, a clinical-stage biotechnology company, focuses on developing therapeutics that harness the body's natural regulatory mechanisms to stablize the immune response in patients with chronic inflammatory diseases. The company is evaluating its lead drug candidate, obefazimod, in Phase 3 clinical trials for the treatment of moderately to severely active ulcerative colitis in adults.