ABIVAX Société Anonyme (NASDAQ:ABVX) Sees Unusually-High Trading Volume – What’s Next?

ABIVAX Société Anonyme (NASDAQ:ABVX) shares saw strong trading volume on Thursday . 363,981 shares changed hands during trading, an increase of 286% from the previous session’s volume of 94,201 shares.The stock last traded at $10.50 and had previously closed at $10.28.

Analyst Upgrades and Downgrades

Separately, Laidlaw assumed coverage on ABIVAX Société Anonyme in a report on Monday, July 29th. They set a “buy” rating and a $48.00 price objective for the company. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.50.

ABIVAX Société Anonyme Trading Down 1.4 %

The firm has a 50-day simple moving average of $11.09 and a two-hundred day simple moving average of $12.66.

Hedge Funds Weigh In On ABIVAX Société Anonyme

Several hedge funds have recently bought and sold shares of the stock. abrdn plc increased its position 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 in the last quarter. Janus Henderson Group PLC grew its position in shares of 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 purchasing an additional 131,414 shares during the period. Kennedy Capital Management LLC grew its position in shares of ABIVAX Société Anonyme by 35.3% in the first quarter. Kennedy Capital Management LLC now owns 120,168 shares of the company’s stock valued at $1,718,000 after purchasing an additional 31,331 shares during the period. Capstone Investment Advisors LLC grew its position in shares of ABIVAX Société Anonyme by 9.0% in the first quarter. Capstone Investment Advisors LLC now owns 62,966 shares of the company’s stock valued at $900,000 after purchasing an additional 5,199 shares during the period. Finally, BNP Paribas Financial Markets purchased a new stake in shares of ABIVAX Société Anonyme in the first quarter valued at $81,000. Hedge funds and other 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.