ABIVAX Société Anonyme (NASDAQ:ABVX) Coverage Initiated at JMP Securities

Analysts at JMP Securities began coverage on shares of ABIVAX Société Anonyme (NASDAQ:ABVX) in a research note issued on Wednesday, Marketbeat reports. The brokerage set an “outperform” rating and a $33.00 price target on the stock. JMP Securities’ target price indicates a potential upside of 296.16% from the stock’s previous close.

ABIVAX Société Anonyme Price Performance

Shares of NASDAQ:ABVX opened at $8.33 on Wednesday. ABIVAX Société Anonyme has a 1-year low of $8.06 and a 1-year high of $17.02. The company’s fifty day moving average is $9.85 and its two-hundred day moving average is $11.61.

Institutional Trading of ABIVAX Société Anonyme

A number of institutional investors and hedge funds have recently modified their holdings of ABVX. abrdn plc grew its position 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 worth $3,645,000 after acquiring an additional 198,225 shares during the last quarter. Point72 Asset Management L.P. grew its position 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 worth $6,254,000 after acquiring an additional 119,300 shares during the last quarter. Walleye Capital LLC grew its position in shares of ABIVAX Société Anonyme by 45.8% during the third quarter. Walleye Capital LLC now owns 257,417 shares of the company’s stock worth $2,965,000 after acquiring an additional 80,807 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in shares of ABIVAX Société Anonyme by 82.6% during the third 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 last quarter. 47.91% of the stock is owned by institutional investors and hedge funds.

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.