ABIVAX Société Anonyme (NASDAQ:ABVX) Shares Gap Up – Still a Buy?

ABIVAX Société Anonyme (NASDAQ:ABVX)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $7.11, but opened at $7.48. ABIVAX Société Anonyme shares last traded at $7.94, with a volume of 101,963 shares changing hands.

Wall Street Analysts Forecast Growth

ABVX has been the subject of a number of recent analyst reports. Citizens Jmp upgraded shares of ABIVAX Société Anonyme to a “strong-buy” rating in a research report on Wednesday, December 4th. JMP Securities initiated coverage on ABIVAX Société Anonyme in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $33.00 price target for the company. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $38.67.

ABIVAX Société Anonyme Trading Up 11.1 %

The firm’s fifty day simple moving average is $9.46 and its 200 day simple moving average is $11.31.

Hedge Funds Weigh In On ABIVAX Société Anonyme

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its holdings in shares of ABIVAX Société Anonyme by 82.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 13,044 shares of the company’s stock worth $150,000 after acquiring an additional 5,900 shares in the last quarter. Walleye Capital LLC raised its stake 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 purchasing an additional 80,807 shares in the last quarter. Point72 Asset Management L.P. lifted its position in ABIVAX Société Anonyme by 28.2% during the third quarter. Point72 Asset Management L.P. now owns 542,900 shares of the company’s stock valued at $6,254,000 after purchasing an additional 119,300 shares during the last quarter. Finally, abrdn plc grew its stake in shares of ABIVAX Société Anonyme by 167.7% in the 3rd quarter. abrdn plc now owns 316,431 shares of the company’s stock worth $3,645,000 after buying an additional 198,225 shares in the last quarter. 47.91% of the stock is owned by 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.