ABIVAX Société Anonyme (NASDAQ:ABVX) Sets New 12-Month Low – Should You Sell?

ABIVAX Société Anonyme (NASDAQ:ABVX) shares reached a new 52-week low on Wednesday . The company traded as low as $8.69 and last traded at $8.69, with a volume of 1556 shares traded. The stock had previously closed at $8.91.

Wall Street Analysts Forecast Growth

Separately, Laidlaw began coverage on shares of ABIVAX Société Anonyme in a research note on Monday, July 29th. They issued a “buy” rating and a $48.00 price objective on the stock. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $39.80.

ABIVAX Société Anonyme Stock Down 2.4 %

The firm’s fifty day moving average is $10.35 and its two-hundred day moving average is $11.98.

Hedge Funds Weigh In On ABIVAX Société Anonyme

A number of hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets bought a new position in ABIVAX Société Anonyme during the 1st quarter valued at about $81,000. Kennedy Capital Management LLC increased its holdings in ABIVAX Société Anonyme by 35.3% in the 1st quarter. Kennedy Capital Management LLC now owns 120,168 shares of the company’s stock worth $1,718,000 after acquiring an additional 31,331 shares in the last quarter. Walleye Capital LLC grew its holdings in ABIVAX Société Anonyme by 45.8% during 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 in the last quarter. abrdn plc boosted its position in shares of ABIVAX Société Anonyme by 167.7% during the 3rd quarter. abrdn plc now owns 316,431 shares of the company’s stock valued at $3,645,000 after acquiring an additional 198,225 shares during 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 worth $6,254,000 after buying an additional 119,300 shares during the last quarter. 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.