ABIVAX Société Anonyme (NASDAQ:ABVX) Shares Gap Down – Time to Sell?

Shares of ABIVAX Société Anonyme (NASDAQ:ABVX) gapped down before the market opened on Friday . The stock had previously closed at $8.56, but opened at $8.29. ABIVAX Société Anonyme shares last traded at $8.48, with a volume of 6,060 shares traded.

ABIVAX Société Anonyme Stock Up 0.4 %

The firm has a fifty day moving average of $10.11 and a 200 day moving average of $11.80.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets boosted its holdings 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 valued at $150,000 after purchasing an additional 5,900 shares in the last quarter. Kennedy Capital Management LLC boosted its holdings in shares of ABIVAX Société Anonyme by 35.3% in the 1st quarter. Kennedy Capital Management LLC now owns 120,168 shares of the company’s stock valued at $1,718,000 after buying an additional 31,331 shares in the last quarter. Walleye Capital LLC grew its position in shares of ABIVAX Société Anonyme by 45.8% in the 3rd 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 last quarter. abrdn plc raised its stake in ABIVAX Société Anonyme by 167.7% during the 3rd quarter. abrdn plc now owns 316,431 shares of the company’s stock worth $3,645,000 after acquiring an additional 198,225 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted 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 valued at $6,254,000 after acquiring an additional 119,300 shares during the last quarter. Hedge funds and other institutional investors own 47.91% of the company’s stock.

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.