ABIVAX Société Anonyme (NASDAQ:ABVX) Sees Large Volume Increase – Should You Buy?

Shares of ABIVAX Société Anonyme (NASDAQ:ABVX) saw unusually-strong trading volume on Friday . Approximately 243,086 shares traded hands during mid-day trading, an increase of 160% from the previous session’s volume of 93,390 shares.The stock last traded at $10.37 and had previously closed at $10.32.

Analyst Upgrades and Downgrades

Separately, Laidlaw initiated coverage on ABIVAX Société Anonyme in a report on Monday, July 29th. They set a “buy” rating and a $48.00 target price on the stock. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $36.50.

ABIVAX Société Anonyme Trading Down 0.8 %

The business has a 50-day simple moving average of $11.02 and a two-hundred day simple moving average of $12.53.

Hedge Funds Weigh In On ABIVAX Société Anonyme

Institutional investors and hedge funds have recently made changes to their positions in the company. abrdn plc grew its position in ABIVAX Société Anonyme by 167.7% during the third 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. Janus Henderson Group PLC grew its position in ABIVAX Société Anonyme by 18.2% during the first quarter. Janus Henderson Group PLC now owns 851,839 shares of the company’s stock worth $12,113,000 after buying an additional 131,414 shares in the last quarter. Kennedy Capital Management LLC grew its position in ABIVAX Société Anonyme by 35.3% during the first quarter. Kennedy Capital Management LLC now owns 120,168 shares of the company’s stock worth $1,718,000 after buying an additional 31,331 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in ABIVAX Société Anonyme during the first quarter worth approximately $81,000. Finally, Capstone Investment Advisors LLC grew its position in ABIVAX Société Anonyme by 9.0% during the first quarter. Capstone Investment Advisors LLC now owns 62,966 shares of the company’s stock worth $900,000 after buying an additional 5,199 shares in the last quarter. Institutional investors and hedge funds 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 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.