ABIVAX Société Anonyme (NASDAQ:ABVX) Shares Gap Up – Here’s Why

ABIVAX Société Anonyme (NASDAQ:ABVX)’s share price gapped up prior to trading on Monday . The stock had previously closed at $7.11, but opened at $7.48. ABIVAX Société Anonyme shares last traded at $7.94, with a volume of 101,963 shares.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ABVX shares. Citizens Jmp upgraded ABIVAX Société Anonyme to a “strong-buy” rating in a report on Wednesday, December 4th. JMP Securities started coverage on shares of ABIVAX Société Anonyme in a report on Wednesday, December 4th. They issued an “outperform” rating and a $33.00 target price for the company. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $38.67.

ABIVAX Société Anonyme Stock Performance

The stock’s 50 day moving average price is $9.46 and its 200-day moving average price is $11.31.

Institutional Trading of ABIVAX Société Anonyme

Several institutional investors and hedge funds have recently modified their holdings of ABVX. abrdn plc increased its position in 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 purchasing an additional 198,225 shares during the period. Point72 Asset Management L.P. boosted its holdings 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 acquiring an additional 119,300 shares in the last quarter. Walleye Capital LLC grew its position in ABIVAX Société Anonyme by 45.8% during the 3rd 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 last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of ABIVAX Société Anonyme by 82.6% during the third quarter. BNP Paribas Financial Markets now owns 13,044 shares of the company’s stock valued at $150,000 after buying an additional 5,900 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.