ABIVAX Société Anonyme (NASDAQ:ABVX) Trading Up 3%

ABIVAX Société Anonyme (NASDAQ:ABVX - Get Free Report)'s stock price rose 3% during mid-day trading on Tuesday . The company traded as high as $11.79 and last traded at $11.45. Approximately 61,991 shares traded hands during trading, a decline of 26% from the average daily volume of 83,627 shares. The stock had previously closed at $11.12.

Analysts Set New Price Targets

Several brokerages recently commented on ABVX. BTIG Research started coverage on shares of ABIVAX Société Anonyme in a research note on Monday, May 20th. They set a "buy" rating and a $43.00 price objective for the company. Laidlaw initiated coverage on shares of ABIVAX Société Anonyme in a report on Monday, July 29th. They issued a "buy" rating and a $48.00 price target on the stock. Guggenheim initiated coverage on ABIVAX Société Anonyme in a research report on Monday, April 29th. They issued a "buy" rating and a $50.00 price objective on the stock. Finally, Piper Sandler assumed coverage on ABIVAX Société Anonyme in a research note on Monday, April 29th. They issued an "overweight" rating and a $42.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $36.50.

ABIVAX Société Anonyme Trading Up 2.3 %

The stock has a 50 day moving average of $12.50 and a 200 day moving average of $13.53. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.08 and a quick ratio of 4.08.

Institutional Investors Weigh In On ABIVAX Société Anonyme

A number of hedge funds have recently made changes to their positions in ABVX. Capstone Investment Advisors LLC purchased a new stake in ABIVAX Société Anonyme during the 4th quarter valued at about $618,000. Janus Henderson Group PLC lifted its position in shares of ABIVAX Société Anonyme by 18.2% in 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 during the period. Commodore Capital LP bought a new stake in shares of ABIVAX Société Anonyme during the 4th quarter valued at about $20,277,000. Blackstone Inc. purchased a new stake in ABIVAX Société Anonyme in the fourth quarter worth about $25,345,000. Finally, Franklin Resources Inc. bought a new stake in ABIVAX Société Anonyme during the 4th quarter valued at approximately $13,630,000. 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.