ABIVAX Société Anonyme (NASDAQ:ABVX) Sees Large Volume Increase – Still a Buy?

Shares of ABIVAX Société Anonyme (NASDAQ:ABVX) saw unusually-high trading volume on Thursday . Approximately 76,964 shares were traded during mid-day trading, a decline of 10% from the previous session’s volume of 85,598 shares.The stock last traded at $9.02 and had previously closed at $9.26.

Wall Street Analyst Weigh In

Separately, Laidlaw began coverage on shares of ABIVAX Société Anonyme in a research note on Monday, July 29th. They set a “buy” rating and a $48.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $36.50.

ABIVAX Société Anonyme Stock Up 6.1 %

The company’s 50 day moving average price is $11.26 and its two-hundred day moving average price is $12.97.

Institutional Trading of ABIVAX Société Anonyme

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets purchased a new position in ABIVAX Société Anonyme during the 1st quarter valued at $81,000. Capstone Investment Advisors LLC grew its position in shares of 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 buying an additional 5,199 shares in the last quarter. Kennedy Capital Management LLC raised its holdings 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 acquiring an additional 31,331 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in ABIVAX Société Anonyme by 18.2% during the 1st quarter. Janus Henderson Group PLC now owns 851,839 shares of the company’s stock worth $12,113,000 after acquiring an additional 131,414 shares in the last quarter. 47.91% of the stock is owned by hedge funds and other 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.