Abpro (NASDAQ:ABP) Trading 3.5% Higher – Time to Buy?

Abpro Co. (NASDAQ:ABP) rose 3.5% during trading on Monday . The company traded as high as $0.50 and last traded at $0.50. Approximately 34,690 shares were traded during trading, a decline of 48% from the average daily volume of 66,552 shares. The stock had previously closed at $0.48.

Wall Street Analyst Weigh In

Separately, Maxim Group began coverage on shares of Abpro in a research report on Monday, February 24th. They set a “buy” rating and a $4.00 price target for the company.

Abpro Stock Performance

The firm has a fifty day moving average of $0.94.

Institutional Trading of Abpro

A number of large investors have recently bought and sold shares of the company. Jane Street Group LLC bought a new position in shares of Abpro during the 4th quarter worth $37,000. Geode Capital Management LLC purchased a new stake in Abpro during the fourth quarter valued at about $53,000. LMR Partners LLP bought a new position in Abpro during the fourth quarter worth about $112,000. AQR Arbitrage LLC purchased a new position in shares of Abpro in the fourth quarter worth about $157,000. Finally, Atlas Merchant Capital LLC bought a new stake in shares of Abpro in the fourth quarter valued at approximately $157,000. 23.30% of the stock is owned by hedge funds and other institutional investors.

About Abpro

Abpro Holdings Inc is a biotechnology company. The company’s mission is to improve the lives of mankind facing severe and life-threatening diseases with next-generation antibody therapies. Abpro Holdings Inc, formerly known as Atlantic Coastal Acquisition Corp. II, is based in WOBURN, Mass.