ABIVAX Société Anonyme (NASDAQ:ABVX) Receives $39.80 Consensus Target Price from Analysts

ABIVAX Société Anonyme (NASDAQ:ABVX) has been given a consensus rating of “Buy” by the seven ratings firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $38.67.

Several research analysts have commented on ABVX shares. JMP Securities started coverage on shares of ABIVAX Société Anonyme in a research report on Wednesday. They issued an “outperform” rating and a $33.00 target price for the company. Citizens Jmp raised ABIVAX Société Anonyme to a “strong-buy” rating in a research note on Wednesday.

ABIVAX Société Anonyme Trading Up 5.8 %

ABVX opened at $8.81 on Wednesday. The company’s 50-day moving average price is $9.78 and its 200 day moving average price is $11.59. ABIVAX Société Anonyme has a fifty-two week low of $8.06 and a fifty-two week high of $17.02.

Institutional Investors Weigh In On ABIVAX Société Anonyme

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets boosted its holdings in 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 purchasing an additional 5,900 shares in the last quarter. Walleye Capital LLC increased its stake in ABIVAX Société Anonyme by 45.8% in the third quarter. Walleye Capital LLC now owns 257,417 shares of the company’s stock valued at $2,965,000 after purchasing an additional 80,807 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in ABIVAX Société Anonyme by 28.2% during 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. Finally, abrdn plc increased its stake in ABIVAX Société Anonyme by 167.7% during 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. Hedge funds and other 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.