Morgan Stanley Reaffirms Equal Weight Rating for ABIVAX Société Anonyme (NASDAQ:ABVX)

ABIVAX Société Anonyme (NASDAQ:ABVX)‘s stock had its “equal weight” rating reiterated by investment analysts at Morgan Stanley in a note issued to investors on Thursday, MarketBeat.com reports. They currently have a $12.00 target price on the stock. Morgan Stanley’s target price suggests a potential upside of 62.60% from the stock’s previous close.

A number of other analysts have also issued reports on the company. Citizens Jmp upgraded ABIVAX Société Anonyme to a “strong-buy” rating in a research note on Wednesday, December 4th. JMP Securities reiterated a “market outperform” rating and issued a $33.00 price objective on shares of ABIVAX Société Anonyme in a report on Friday, January 10th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $38.00.

ABIVAX Société Anonyme Stock Performance

Shares of ABVX opened at $7.38 on Thursday. The stock’s fifty day moving average price is $6.73 and its two-hundred day moving average price is $8.55. ABIVAX Société Anonyme has a 1 year low of $5.50 and a 1 year high of $16.63.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ABVX. ADAR1 Capital Management LLC grew its stake in shares of ABIVAX Société Anonyme by 190.1% in the 4th quarter. ADAR1 Capital Management LLC now owns 1,513,393 shares of the company’s stock worth $11,078,000 after buying an additional 991,781 shares during the last quarter. Caligan Partners LP purchased a new position in shares of ABIVAX Société Anonyme in the 4th quarter worth $5,506,000. JPMorgan Chase & Co. purchased a new position in shares of ABIVAX Société Anonyme in the 4th quarter worth $5,336,000. Allostery Investments LP purchased a new position in shares of ABIVAX Société Anonyme in the 4th quarter worth $4,328,000. Finally, Nantahala Capital Management LLC raised its holdings in ABIVAX Société Anonyme by 45.7% in the 4th quarter. Nantahala Capital Management LLC now owns 1,436,047 shares of the company’s stock worth $10,512,000 after purchasing an additional 450,413 shares during the period. 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.