ABIVAX Société Anonyme (NASDAQ:ABVX) Trading Down 4.9%

Shares of ABIVAX Société Anonyme (NASDAQ:ABVX) dropped 4.9% during trading on Wednesday . The company traded as low as $10.42 and last traded at $10.43. Approximately 110,839 shares changed hands during mid-day trading, an increase of 33% from the average daily volume of 83,373 shares. The stock had previously closed at $10.97.

Analyst Upgrades and Downgrades

Separately, Laidlaw initiated coverage on ABIVAX Société Anonyme in a research report on Monday, July 29th. They set a “buy” rating and a $48.00 price target on the stock. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $36.50.

ABIVAX Société Anonyme Trading Down 6.8 %

The firm’s 50 day simple moving average is $11.62 and its 200 day simple moving average is $13.22. The company has a quick ratio of 4.08, a current ratio of 3.04 and a debt-to-equity ratio of 0.48.

Institutional Investors Weigh In On ABIVAX Société Anonyme

Hedge funds and other institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC boosted its stake in ABIVAX Société Anonyme by 18.2% during the 1st quarter. Janus Henderson Group PLC now owns 851,839 shares of the company’s stock valued at $12,113,000 after purchasing an additional 131,414 shares in the last quarter. Commodore Capital LP acquired a new position in ABIVAX Société Anonyme during the fourth quarter worth about $20,277,000. Blackstone Inc. acquired a new position in ABIVAX Société Anonyme during the fourth quarter worth about $25,345,000. Great Point Partners LLC bought a new stake in ABIVAX Société Anonyme in the fourth quarter worth about $16,585,000. Finally, Ghisallo Capital Management LLC acquired a new stake in ABIVAX Société Anonyme in the 4th quarter valued at about $642,000. 47.91% of the stock is currently owned by institutional investors.

ABIVAX Société Anonyme Company Profile

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.