JMP Securities Initiates Coverage on ABIVAX Société Anonyme (NASDAQ:ABVX)

Investment analysts at JMP Securities assumed coverage on shares of ABIVAX Société Anonyme (NASDAQ:ABVX - Get Free Report) in a research report issued on Wednesday, Marketbeat reports. The brokerage set an "outperform" rating and a $33.00 price target on the stock. JMP Securities' price objective would suggest a potential upside of 271.20% from the company's current price.

ABIVAX Société Anonyme Price Performance

Shares of ABVX traded up $0.59 during trading hours on Wednesday, reaching $8.89. The company's stock had a trading volume of 101,598 shares, compared to its average volume of 93,783. ABIVAX Société Anonyme has a 1-year low of $8.06 and a 1-year high of $17.02. The company has a 50 day moving average of $9.89 and a two-hundred day moving average of $11.63.

Hedge Funds Weigh In On ABIVAX Société Anonyme

A number of large investors have recently made changes to their positions in the business. BNP Paribas Financial Markets increased its holdings in shares of ABIVAX Société Anonyme by 82.6% in the 3rd 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 during the period. Walleye Capital LLC increased its holdings in ABIVAX Société Anonyme by 45.8% in the third quarter. Walleye Capital LLC now owns 257,417 shares of the company's stock worth $2,965,000 after buying an additional 80,807 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in ABIVAX Société Anonyme by 28.2% in the third quarter. Point72 Asset Management L.P. now owns 542,900 shares of the company's stock worth $6,254,000 after buying an additional 119,300 shares during the last quarter. Finally, abrdn plc increased its holdings in ABIVAX Société Anonyme by 167.7% in the third quarter. abrdn plc now owns 316,431 shares of the company's stock worth $3,645,000 after buying an additional 198,225 shares during the last quarter. Institutional investors and hedge funds own 47.91% of the company's stock.

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.