ABIVAX Société Anonyme (NASDAQ:ABVX) Stock Price Up 3.5%

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ABVX shares. Morgan Stanley upped their target price on shares of ABIVAX Société Anonyme from $15.00 to $16.00 and gave the company an “equal weight” rating in a research note on Thursday, April 11th. Piper Sandler started coverage on shares of ABIVAX Société Anonyme in a report on Monday, April 29th. They issued an “overweight” rating and a $42.00 price target on the stock. BTIG Research started coverage on shares of ABIVAX Société Anonyme in a report on Monday, May 20th. They issued a “buy” rating and a $43.00 price target on the stock. Finally, Guggenheim initiated coverage on shares of ABIVAX Société Anonyme in a report on Monday, April 29th. They issued a “buy” rating and a $50.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $34.20.

ABIVAX Société Anonyme Stock Down 0.3 %

The company has a current ratio of 4.08, a quick ratio of 4.08 and a debt-to-equity ratio of 0.23. The business’s 50-day moving average is $13.74 and its 200-day moving average is $13.45.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets bought a new position in ABIVAX Société Anonyme during the 1st quarter worth approximately $81,000. Capstone Investment Advisors LLC bought a new position in ABIVAX Société Anonyme during the 4th quarter worth approximately $618,000. Ghisallo Capital Management LLC bought a new position in ABIVAX Société Anonyme during the 4th quarter worth approximately $642,000. Kennedy Capital Management LLC boosted its stake in ABIVAX Société Anonyme by 35.3% during the 1st 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 last quarter. Finally, Rosalind Advisors Inc. bought a new position in ABIVAX Société Anonyme during the 1st quarter worth approximately $5,411,000. Institutional investors own 47.91% of the company’s stock.

About ABIVAX Société Anonyme

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.