ABIVAX Société Anonyme (NASDAQ:ABVX) Given Consensus Rating of “Buy” by Brokerages

ABIVAX Société Anonyme (NASDAQ:ABVX) has been assigned an average rating of “Buy” from the seven analysts that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $38.00.

A number of research analysts have recently issued reports on ABVX shares. JMP Securities reiterated a “market outperform” rating and set a $33.00 price objective on shares of ABIVAX Société Anonyme in a report on Friday, January 10th. Morgan Stanley reissued an “equal weight” rating and issued a $12.00 price objective on shares of ABIVAX Société Anonyme in a research note on Thursday, March 20th.

ABIVAX Société Anonyme Stock Up 6.8 %

NASDAQ ABVX opened at $5.97 on Tuesday. The firm’s fifty day moving average price is $6.71 and its two-hundred day moving average price is $7.89. ABIVAX Société Anonyme has a fifty-two week low of $4.77 and a fifty-two week high of $16.63.

Institutional Trading of ABIVAX Société Anonyme

A number of institutional investors and hedge funds have recently modified their holdings of ABVX. ADAR1 Capital Management LLC increased its holdings in ABIVAX Société Anonyme by 190.1% during the fourth quarter. ADAR1 Capital Management LLC now owns 1,513,393 shares of the company’s stock worth $11,078,000 after buying an additional 991,781 shares during the last quarter. Franklin Resources Inc. lifted its stake in ABIVAX Société Anonyme by 10.7% in the fourth quarter. Franklin Resources Inc. now owns 1,466,062 shares of the company’s stock valued at $10,732,000 after purchasing an additional 141,710 shares during the last quarter. Nantahala Capital Management LLC grew its holdings in ABIVAX Société Anonyme by 45.7% during the fourth quarter. Nantahala Capital Management LLC now owns 1,436,047 shares of the company’s stock valued at $10,512,000 after purchasing an additional 450,413 shares during the period. Millennium Management LLC raised its stake in shares of ABIVAX Société Anonyme by 44.2% in the fourth quarter. Millennium Management LLC now owns 931,179 shares of the company’s stock valued at $6,816,000 after buying an additional 285,542 shares during the period. Finally, Citadel Advisors LLC raised its stake in shares of ABIVAX Société Anonyme by 83.5% in the fourth quarter. Citadel Advisors LLC now owns 855,676 shares of the company’s stock valued at $6,264,000 after buying an additional 389,247 shares during the period. 47.91% of the stock is owned by hedge funds and other institutional investors.

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.