Brokerages Set ABIVAX Société Anonyme (NASDAQ:ABVX) Target Price at $39.80

ABIVAX Société Anonyme (NASDAQ:ABVX) has received a consensus recommendation of “Buy” from the seven research firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $38.67.

Several research firms recently weighed in on ABVX. Citizens Jmp raised ABIVAX Société Anonyme to a “strong-buy” rating in a research note on Wednesday. JMP Securities began coverage on shares of ABIVAX Société Anonyme in a report on Wednesday. They set an “outperform” rating and a $33.00 price objective for the company.

ABIVAX Société Anonyme Stock Performance

ABVX stock opened at $8.81 on Wednesday. ABIVAX Société Anonyme has a 52 week low of $8.06 and a 52 week high of $17.02. The company’s 50-day simple moving average is $9.78 and its 200 day simple moving average is $11.59.

Institutional Investors Weigh In On ABIVAX Société Anonyme

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets lifted its position in shares of ABIVAX Société Anonyme by 82.6% in the third quarter. BNP Paribas Financial Markets now owns 13,044 shares of the company’s stock valued at $150,000 after acquiring an additional 5,900 shares in the last quarter. Walleye Capital LLC increased its stake in 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 acquiring an additional 80,807 shares during the last quarter. abrdn plc boosted its position in shares of ABIVAX Société Anonyme by 167.7% during the 3rd quarter. abrdn plc now owns 316,431 shares of the company’s stock valued at $3,645,000 after acquiring an additional 198,225 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its stake in 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 purchasing an additional 119,300 shares in the last quarter. 47.91% of the stock is currently owned by hedge funds and other institutional investors.

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.