ABIVAX Société Anonyme (NASDAQ:ABVX) Reaches New 12-Month Low – Time to Sell?

ABIVAX Société Anonyme (NASDAQ:ABVX) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $8.00 and last traded at $8.05, with a volume of 326916 shares trading hands. The stock had previously closed at $8.58.

Wall Street Analyst Weigh In

Several analysts have commented on ABVX shares. Citizens Jmp upgraded shares of ABIVAX Société Anonyme to a “strong-buy” rating in a report on Wednesday, December 4th. JMP Securities assumed coverage on ABIVAX Société Anonyme in a research report on Wednesday, December 4th. They set an “outperform” rating and a $33.00 price target on the stock. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, ABIVAX Société Anonyme currently has a consensus rating of “Buy” and an average price target of $38.67.

ABIVAX Société Anonyme Stock Performance

The business’s 50 day simple moving average is $9.62 and its two-hundred day simple moving average is $11.44.

Hedge Funds Weigh In On ABIVAX Société Anonyme

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ABVX. BNP Paribas Financial Markets raised its stake 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 worth $150,000 after purchasing an additional 5,900 shares during the last quarter. Walleye Capital LLC increased its holdings 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 buying an additional 80,807 shares in the last quarter. Point72 Asset Management L.P. raised its position in ABIVAX Société Anonyme by 28.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 542,900 shares of the company’s stock worth $6,254,000 after buying an additional 119,300 shares during the last quarter. Finally, abrdn plc lifted its stake in 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 period. 47.91% of the stock is owned by 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.