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

Shares of ABIVAX Société Anonyme (NASDAQ:ABVX) gapped up before the market opened 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 trading hands.

Analysts Set New Price Targets

ABVX has been the subject of a number of analyst reports. Piper Sandler initiated coverage on ABIVAX Société Anonyme in a research report on Monday. They issued an “overweight” rating and a $42.00 price target for the company. Guggenheim assumed coverage on ABIVAX Société Anonyme in a report on Monday. They set a “buy” rating and a $50.00 price objective on the stock. Finally, Morgan Stanley raised their price target on ABIVAX Société Anonyme from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 11th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.00.

ABIVAX Société Anonyme Trading Up 2.7 %

The company has a fifty day moving average price of $14.44.

Hedge Funds Weigh In On ABIVAX Société Anonyme

Large investors have recently added to or reduced their stakes in the business. Blackstone Inc. purchased a new stake in ABIVAX Société Anonyme during the fourth quarter valued at approximately $25,345,000. Commodore Capital LP purchased a new position in ABIVAX Société Anonyme during the 4th quarter valued at about $20,277,000. Great Point Partners LLC bought a new stake in shares of ABIVAX Société Anonyme in the 4th quarter valued at about $16,585,000. Franklin Resources Inc. purchased a new stake in shares of ABIVAX Société Anonyme in the 4th quarter valued at $13,630,000. Finally, Rosalind Advisors Inc. acquired a new position in shares of ABIVAX Société Anonyme in the 1st quarter valued at $5,411,000. Hedge funds and other institutional investors 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 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.