ABIVAX Société Anonyme (NASDAQ:ABVX) Shares Down 4.9%

ABIVAX Société Anonyme (NASDAQ:ABVX)’s share price was down 4.9% on Wednesday . The stock traded as low as $10.42 and last traded at $10.43. Approximately 110,839 shares were traded during mid-day trading, an increase of 33% from the average daily volume of 83,373 shares. The stock had previously closed at $10.97.

Wall Street Analyst Weigh In

Separately, Laidlaw started coverage on shares of ABIVAX Société Anonyme in a research report on Monday, July 29th. They issued a “buy” rating and a $48.00 target price for the company. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $36.50.

ABIVAX Société Anonyme Stock Performance

The business has a fifty day moving average of $11.62 and a 200 day moving average of $13.22. The company has a quick ratio of 4.08, a current ratio of 3.04 and a debt-to-equity ratio of 0.48.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Capstone Investment Advisors LLC boosted 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 purchasing an additional 5,199 shares during the period. BNP Paribas Financial Markets acquired a new position in ABIVAX Société Anonyme in the 1st quarter valued at $81,000. Kennedy Capital Management LLC grew its stake in ABIVAX Société Anonyme by 35.3% in the 1st quarter. Kennedy Capital Management LLC now owns 120,168 shares of the company’s stock valued at $1,718,000 after buying an additional 31,331 shares during the last quarter. Ghisallo Capital Management LLC bought a new position in ABIVAX Société Anonyme in the 4th quarter worth $642,000. Finally, Janus Henderson Group PLC boosted its holdings 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 valued at $12,113,000 after acquiring an additional 131,414 shares during the period. 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.