ABIVAX Société Anonyme (NASDAQ:ABVX) Rating Increased to Strong-Buy at Citizens Jmp

ABIVAX Société Anonyme (NASDAQ:ABVX) was upgraded by equities researchers at Citizens Jmp to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

Separately, JMP Securities started coverage on ABIVAX Société Anonyme in a report on Wednesday. They issued an “outperform” rating and a $33.00 target price on the stock. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, ABIVAX Société Anonyme has an average rating of “Buy” and a consensus price target of $38.67.

ABIVAX Société Anonyme Price Performance

Shares of ABVX stock opened at $8.33 on Wednesday. ABIVAX Société Anonyme has a 12-month low of $8.06 and a 12-month high of $17.02. The firm has a 50-day moving average price of $9.85 and a 200 day moving average price of $11.61.

Institutional Trading of ABIVAX Société Anonyme

Hedge funds and other institutional investors have recently modified their holdings of the stock. abrdn plc lifted its holdings in ABIVAX Société Anonyme by 167.7% during the 3rd quarter. abrdn plc now owns 316,431 shares of the company’s stock worth $3,645,000 after buying an additional 198,225 shares in the last quarter. Walleye Capital LLC boosted its stake in ABIVAX Société Anonyme by 45.8% in the third quarter. Walleye Capital LLC now owns 257,417 shares of the company’s stock valued at $2,965,000 after acquiring an additional 80,807 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in ABIVAX Société Anonyme by 82.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 13,044 shares of the company’s stock worth $150,000 after acquiring an additional 5,900 shares during the period. Finally, Point72 Asset Management L.P. lifted its stake in shares of ABIVAX Société Anonyme by 28.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 542,900 shares of the company’s stock valued at $6,254,000 after purchasing an additional 119,300 shares during the period. Institutional investors and hedge funds own 47.91% of the company’s stock.

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 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.