ABIVAX Société Anonyme (NASDAQ:ABVX) Reaches New 1-Year Low – Should You Sell?

Shares of ABIVAX Société Anonyme (NASDAQ:ABVX) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $8.00 and last traded at $8.05, with a volume of 326916 shares traded. The stock had previously closed at $8.58.

Analyst Ratings Changes

Several equities analysts recently commented on ABVX shares. JMP Securities assumed coverage on ABIVAX Société Anonyme in a research report on Wednesday, December 4th. They set an “outperform” rating and a $33.00 target price for the company. Citizens Jmp raised ABIVAX Société Anonyme to a “strong-buy” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $38.67.

ABIVAX Société Anonyme Stock Down 8.0 %

The company has a fifty day moving average price of $9.62 and a 200 day moving average price of $11.44.

Institutional Trading of ABIVAX Société Anonyme

A number of institutional investors have recently made changes to their positions in ABVX. BNP Paribas Financial Markets boosted its position 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 valued at $150,000 after buying an additional 5,900 shares during the period. Walleye Capital LLC grew its position in shares of ABIVAX Société Anonyme by 45.8% in the 3rd quarter. Walleye Capital LLC now owns 257,417 shares of the company’s stock worth $2,965,000 after buying an additional 80,807 shares during the last quarter. abrdn plc increased its stake in shares of ABIVAX Société Anonyme by 167.7% during the third quarter. abrdn plc now owns 316,431 shares of the company’s stock valued at $3,645,000 after buying an additional 198,225 shares during the period. Finally, Point72 Asset Management L.P. raised its holdings in shares of ABIVAX Société Anonyme by 28.2% during the third quarter. Point72 Asset Management L.P. now owns 542,900 shares of the company’s stock valued at $6,254,000 after acquiring an additional 119,300 shares in the last quarter. 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 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.