ABIVAX Société Anonyme (NASDAQ:ABVX) Shares Gap Up to $15.78

ABIVAX Société Anonyme (NASDAQ:ABVX) gapped up prior to trading on Monday . The stock had previously closed at $15.78, but opened at $16.63. ABIVAX Société Anonyme shares last traded at $16.15, with a volume of 31,559 shares traded.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ABVX. Morgan Stanley upped their target price on ABIVAX Société Anonyme from $15.00 to $16.00 and gave the company an “equal weight” rating in a report on Thursday, April 11th. Piper Sandler began coverage on shares of ABIVAX Société Anonyme in a report on Monday. They issued an “overweight” rating and a $42.00 price objective for the company. Finally, Guggenheim started coverage on shares of ABIVAX Société Anonyme in a research note on Monday. They set a “buy” rating and a $50.00 target price on the stock. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, ABIVAX Société Anonyme has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

ABIVAX Société Anonyme Stock Down 3.4 %

The business has a fifty day simple moving average of $14.57.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Capstone Investment Advisors LLC purchased a new stake in ABIVAX Société Anonyme in the fourth quarter worth about $618,000. Ghisallo Capital Management LLC bought a new stake in shares of ABIVAX Société Anonyme in the 4th quarter worth approximately $642,000. Rosalind Advisors Inc. purchased a new stake in shares of ABIVAX Société Anonyme in the 1st quarter worth approximately $5,411,000. Franklin Resources Inc. bought a new position in ABIVAX Société Anonyme during the 4th quarter valued at approximately $13,630,000. Finally, Great Point Partners LLC purchased a new position in ABIVAX Société Anonyme during the fourth quarter valued at $16,585,000. 47.91% of the stock is owned by hedge funds and other institutional investors.

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.