ABIVAX Société Anonyme (NASDAQ:ABVX) Sees Strong Trading Volume

Shares of ABIVAX Société Anonyme (NASDAQ:ABVX) saw an uptick in trading volume on Tuesday . Approximately 410,793 shares changed hands during mid-day trading, an increase of 324% from the previous session’s volume of 96,885 shares.The stock last traded at $14.10 and had previously closed at $13.85.

Analyst Ratings Changes

Several analysts recently issued reports on ABVX shares. Guggenheim began coverage on shares of ABIVAX Société Anonyme in a research report on Monday, April 29th. They issued a “buy” rating and a $50.00 price target for the company. Piper Sandler initiated coverage on ABIVAX Société Anonyme in a research note on Monday, April 29th. They set an “overweight” rating and a $42.00 price objective for the company. Morgan Stanley upped their target price on shares of ABIVAX Société Anonyme from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 11th. Finally, BTIG Research assumed coverage on ABIVAX Société Anonyme in a research note on Monday. They set a “buy” rating and a $43.00 price target for the company. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $34.20.

ABIVAX Société Anonyme Price Performance

The business’s fifty day simple moving average is $14.64 and its 200-day simple moving average is $12.66.

Institutional Trading of ABIVAX Société Anonyme

Large investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. purchased a new stake in shares of ABIVAX Société Anonyme in the 4th quarter worth about $13,630,000. Capstone Investment Advisors LLC bought a new position in shares of ABIVAX Société Anonyme during the fourth quarter valued at approximately $618,000. Ghisallo Capital Management LLC purchased a new position in shares of ABIVAX Société Anonyme during the fourth quarter valued at approximately $642,000. Commodore Capital LP bought a new stake in shares of ABIVAX Société Anonyme in the 4th quarter worth approximately $20,277,000. Finally, Blackstone Inc. bought a new stake in shares of ABIVAX Société Anonyme in the 4th quarter worth approximately $25,345,000. 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 modulate 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.