ABIVAX Société Anonyme (NASDAQ:ABVX) Given Consensus Recommendation of "Buy" by Brokerages

Shares of ABIVAX Société Anonyme (NASDAQ:ABVX - Get Free Report) have received a consensus recommendation of "Buy" from the seven brokerages that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $38.00.

A number of research firms have issued reports on ABVX. JMP Securities reissued a "market outperform" rating and set a $33.00 price target on shares of ABIVAX Société Anonyme in a research report on Friday, January 10th. Morgan Stanley reiterated an "equal weight" rating and set a $12.00 target price on shares of ABIVAX Société Anonyme in a report on Thursday, March 20th.

Institutional Investors Weigh In On ABIVAX Société Anonyme

Several institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC lifted its position in shares of ABIVAX Société Anonyme by 373.6% during the first quarter. GAMMA Investing LLC now owns 18,831 shares of the company's stock worth $118,000 after purchasing an additional 14,855 shares in the last quarter. Two Sigma Investments LP acquired a new position in ABIVAX Société Anonyme in the 4th quarter worth $144,000. Stonepine Capital Management LLC acquired a new position in ABIVAX Société Anonyme in the 4th quarter worth $110,000. Shay Capital LLC purchased a new position in ABIVAX Société Anonyme in the 4th quarter valued at about $366,000. Finally, Millennium Management LLC grew its stake in shares of ABIVAX Société Anonyme by 44.2% during the fourth quarter. Millennium Management LLC now owns 931,179 shares of the company's stock valued at $6,816,000 after acquiring an additional 285,542 shares in the last quarter. Hedge funds and other institutional investors own 47.91% of the company's stock.

ABIVAX Société Anonyme Stock Up 6.8 %

Shares of NASDAQ ABVX traded up $0.38 during trading on Tuesday, hitting $5.97. 93,545 shares of the company traded hands, compared to its average volume of 127,992. The company has a 50-day moving average price of $6.71 and a 200-day moving average price of $7.89. ABIVAX Société Anonyme has a 1 year low of $4.77 and a 1 year high of $16.63.

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.