Abivax (NASDAQ:ABVX) Stock Price Up 6.5% - Time to Buy?

Abivax SA Sponsored ADR (NASDAQ:ABVX - Get Free Report)'s stock price shot up 6.5% during mid-day trading on Monday . The company traded as high as $8.78 and last traded at $8.81. 248,886 shares traded hands during trading, an increase of 43% from the average session volume of 174,466 shares. The stock had previously closed at $8.27.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Morgan Stanley reiterated an "equal weight" rating and set a $12.00 target price on shares of Abivax in a report on Thursday, March 20th. JMP Securities reiterated a "market outperform" rating and set a $33.00 target price on shares of Abivax in a report on Wednesday, April 30th.

Abivax Stock Up 6.8%

The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.29. The company's fifty day simple moving average is $6.87 and its 200 day simple moving average is $6.72.

Institutional Trading of Abivax

Institutional investors and hedge funds have recently bought and sold shares of the stock. Two Sigma Investments LP purchased a new stake in Abivax in the fourth quarter worth about $144,000. JPMorgan Chase & Co. purchased a new stake in Abivax in the fourth quarter worth about $5,336,000. GAMMA Investing LLC lifted its holdings in Abivax by 373.6% in the first quarter. GAMMA Investing LLC now owns 18,831 shares of the company's stock worth $118,000 after buying an additional 14,855 shares during the period. Guggenheim Capital LLC bought a new position in shares of Abivax during the fourth quarter valued at approximately $92,000. Finally, Millennium Management LLC increased its stake in shares of Abivax by 44.2% during the fourth quarter. Millennium Management LLC now owns 931,179 shares of the company's stock valued at $6,816,000 after purchasing an additional 285,542 shares in the last quarter. 47.91% of the stock is currently owned by hedge funds and other institutional investors.

About Abivax

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.