Abpro (NASDAQ:ABP) Trading Up 3.5% – Still a Buy?

Abpro Co. (NASDAQ:ABP)’s share price traded up 3.5% during trading on Monday . The stock traded as high as $0.50 and last traded at $0.50. 34,690 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 66,552 shares. The stock had previously closed at $0.48.

Analysts Set New Price Targets

Separately, Maxim Group assumed coverage on Abpro in a report on Monday, February 24th. They issued a “buy” rating and a $4.00 price target for the company.

Abpro Price Performance

The business’s fifty day moving average is $0.95.

Hedge Funds Weigh In On Abpro

A number of hedge funds have recently modified their holdings of the stock. Jane Street Group LLC acquired a new position in shares of Abpro in the 4th quarter worth approximately $37,000. Geode Capital Management LLC acquired a new position in shares of Abpro in the 4th quarter worth approximately $53,000. LMR Partners LLP acquired a new position in shares of Abpro in the 4th quarter worth approximately $112,000. AQR Arbitrage LLC acquired a new position in shares of Abpro in the 4th quarter worth approximately $157,000. Finally, Atlas Merchant Capital LLC acquired a new position in shares of Abpro in the 4th quarter worth approximately $157,000. 23.30% of the stock is owned by institutional investors and hedge funds.

About Abpro

Abpro Holdings Inc is a biotechnology company. The company’s mission is to improve the lives of mankind facing severe and life-threatening diseases with next-generation antibody therapies. Abpro Holdings Inc, formerly known as Atlantic Coastal Acquisition Corp. II, is based in WOBURN, Mass.