ABIVAX Société Anonyme (NASDAQ:ABVX) Shares Gap Down – What’s Next?

Shares of ABIVAX Société Anonyme (NASDAQ:ABVX) gapped down prior to trading on Thursday . The stock had previously closed at $10.18, but opened at $9.78. ABIVAX Société Anonyme shares last traded at $9.70, with a volume of 911 shares changing hands.

Wall Street Analyst Weigh In

Separately, Laidlaw began coverage on ABIVAX Société Anonyme in a report on Monday, July 29th. They set a “buy” rating and a $48.00 price target for the company. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.80.

ABIVAX Société Anonyme Stock Performance

The company’s 50 day moving average is $10.58 and its 200-day moving average is $12.14.

Hedge Funds Weigh In On ABIVAX Société Anonyme

Several institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets bought a new stake in ABIVAX Société Anonyme in the 1st quarter valued at about $81,000. Kennedy Capital Management LLC increased its holdings in shares of ABIVAX Société Anonyme by 35.3% during 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. Walleye Capital LLC raised its position in shares of ABIVAX Société Anonyme by 45.8% during the third quarter. Walleye Capital LLC now owns 257,417 shares of the company’s stock worth $2,965,000 after purchasing an additional 80,807 shares during the period. abrdn plc lifted its holdings 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 purchasing an additional 198,225 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its position in ABIVAX Société Anonyme by 28.2% in the 3rd 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 period. Institutional investors and hedge funds 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.