ABIVAX Société Anonyme (NASDAQ:ABVX) Shares Gap Down - Should You Sell?

ABIVAX Société Anonyme (NASDAQ:ABVX - Get Free Report)'s stock price gapped down prior to trading on Friday . The stock had previously closed at $8.56, but opened at $8.29. ABIVAX Société Anonyme shares last traded at $8.48, with a volume of 6,060 shares traded.

ABIVAX Société Anonyme Stock Performance

The company's 50-day moving average is $10.00 and its 200-day moving average is $11.74.

Hedge Funds Weigh In On ABIVAX Société Anonyme

A number of institutional investors have recently modified their holdings of ABVX. Janus Henderson Group PLC increased its position 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 worth $12,113,000 after purchasing an additional 131,414 shares in the last quarter. abrdn plc lifted its stake in ABIVAX Société Anonyme by 167.7% in the third quarter. abrdn plc now owns 316,431 shares of the company's stock valued at $3,645,000 after buying an additional 198,225 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of ABIVAX Société Anonyme by 82.6% during the third 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. Point72 Asset Management L.P. grew its holdings in ABIVAX Société Anonyme by 28.2% during the third quarter. Point72 Asset Management L.P. now owns 542,900 shares of the company's stock worth $6,254,000 after acquiring an additional 119,300 shares during the period. Finally, Walleye Capital LLC boosted its position in shares of ABIVAX Société Anonyme by 45.8% in the 3rd quarter. Walleye Capital LLC now owns 257,417 shares of the company's stock valued at $2,965,000 after purchasing an additional 80,807 shares during the period. 47.91% of the stock is owned by institutional investors and hedge funds.

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.