Abivax (NASDAQ:ABVX) Sees Unusually-High Trading Volume - Should You Buy?

Key Points

• Abivax (NASDAQ:ABVX) experienced a 20% increase in trading volume with 688,149 shares traded, rising from 572,645 shares in the previous session, and the stock price rose from $66.49 to $67.58.
• Equities research analysts have significantly raised their target prices for Abivax, with JMP Securities projecting a target of $95.00 and an overall consensus rating of "Buy" with an average target of $80.00.
• Institutional investors are showing strong interest, with major firms like JPMorgan Chase and Franklin Resources increasing their stakes, indicating confidence in the company's future potential.

Abivax SA Sponsored ADR (NASDAQ:ABVX - Get Free Report) saw unusually-high trading volume on Monday . Approximately 688,149 shares were traded during mid-day trading, an increase of 20% from the previous session's volume of 572,645 shares.The stock last traded at $67.58 and had previously closed at $66.49.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Leerink Partners set a $74.00 price target on Abivax and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. Morgan Stanley upgraded shares of Abivax from an "equal weight" rating to an "overweight" rating and set a $71.00 target price on the stock in a report on Wednesday, July 23rd. Guggenheim raised their target price on shares of Abivax from $50.00 to $101.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. JMP Securities upped their price target on shares of Abivax from $33.00 to $95.00 and gave the stock a "market outperform" rating in a research report on Wednesday, July 23rd. Finally, Piper Sandler lifted their price objective on shares of Abivax from $70.00 to $112.00 and gave the company an "overweight" rating in a report on Tuesday. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Abivax currently has an average rating of "Buy" and an average price target of $92.33.

Abivax Stock Up 0.2%

The company has a 50 day moving average of $16.14 and a two-hundred day moving average of $9.85. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.29.

Institutional Investors Weigh In On Abivax

Several large investors have recently bought and sold shares of the company. Bank of America Corp DE boosted its stake in shares of Abivax by 56.1% in the fourth quarter. Bank of America Corp DE now owns 5,536 shares of the company's stock worth $41,000 after acquiring an additional 1,990 shares during the last quarter. Cubist Systematic Strategies LLC lifted its holdings in Abivax by 34.3% in the 1st quarter. Cubist Systematic Strategies LLC now owns 10,152 shares of the company's stock valued at $63,000 after purchasing an additional 2,595 shares in the last quarter. Ameriprise Financial Inc. acquired a new stake in Abivax during the 4th quarter worth $85,000. Guggenheim Capital LLC purchased a new stake in shares of Abivax during the fourth quarter worth $92,000. Finally, Stonepine Capital Management LLC purchased a new stake in shares of Abivax during the fourth quarter worth $110,000. 47.91% of the stock is currently owned by hedge funds and other institutional investors.

Abivax 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.