ABIVAX Société Anonyme (NASDAQ:ABVX) Shares Up 3.5%

ABIVAX Société Anonyme (NASDAQ:ABVX)’s stock price rose 3.5% during mid-day trading on Tuesday . The company traded as high as $13.56 and last traded at $13.56. Approximately 1,451 shares were traded during trading, a decline of 98% from the average daily volume of 81,964 shares. The stock had previously closed at $13.10.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Piper Sandler assumed coverage on ABIVAX Société Anonyme in a research note on Monday, April 29th. They issued an “overweight” rating and a $42.00 price objective for the company. Morgan Stanley increased their price target on shares of ABIVAX Société Anonyme from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 11th. Guggenheim initiated coverage on shares of ABIVAX Société Anonyme in a research note on Monday, April 29th. They issued a “buy” rating and a $50.00 price objective on the stock. Finally, BTIG Research started coverage on shares of ABIVAX Société Anonyme in a research note on Monday, May 20th. They set a “buy” rating and a $43.00 target price for the company. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, ABIVAX Société Anonyme has an average rating of “Moderate Buy” and a consensus price target of $34.20.

ABIVAX Société Anonyme Stock Up 1.8 %

The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.08 and a current ratio of 4.08. The stock’s 50-day simple moving average is $13.81 and its 200 day simple moving average is $13.44.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Capstone Investment Advisors LLC increased its position in ABIVAX Société Anonyme by 9.0% during the 1st quarter. Capstone Investment Advisors LLC now owns 62,966 shares of the company’s stock worth $900,000 after purchasing an additional 5,199 shares during the period. BNP Paribas Financial Markets acquired a new position in ABIVAX Société Anonyme during the first quarter worth $81,000. Kennedy Capital Management LLC grew its holdings in ABIVAX Société Anonyme by 35.3% during the first quarter. Kennedy Capital Management LLC now owns 120,168 shares of the company’s stock worth $1,718,000 after acquiring an additional 31,331 shares during the period. Ghisallo Capital Management LLC acquired a new position in ABIVAX Société Anonyme during the fourth quarter worth $642,000. Finally, Janus Henderson Group PLC lifted its holdings in ABIVAX Société Anonyme by 18.2% in the first quarter. Janus Henderson Group PLC now owns 851,839 shares of the company’s stock valued at $12,113,000 after acquiring an additional 131,414 shares during the period. 47.91% of the stock is currently owned by institutional investors and hedge funds.

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.