Abivax (NASDAQ:ABVX) Trading Down 3% - Should You Sell?

Shares of Abivax SA Sponsored ADR (NASDAQ:ABVX - Get Free Report) fell 3% during trading on Friday . The company traded as low as $10.02 and last traded at $10.03. 45,890 shares were traded during trading, a decline of 81% from the average session volume of 245,620 shares. The stock had previously closed at $10.34.

Wall Street Analysts Forecast Growth

ABVX has been the subject of a number of research analyst reports. Morgan Stanley reissued an "equal weight" rating and issued a $12.00 price target on shares of Abivax in a research report on Thursday, March 20th. JMP Securities set a $33.00 price target on Abivax in a report on Friday. Finally, Citigroup reissued a "market outperform" rating on shares of Abivax in a research report on Friday. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $31.00.

Abivax Price Performance

The stock has a fifty day simple moving average of $7.08 and a 200-day simple moving average of $6.79. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.25 and a current ratio of 1.25.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ABVX. Bank of America Corp DE raised 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 raised its holdings in Abivax by 34.3% during the 1st quarter. Cubist Systematic Strategies LLC now owns 10,152 shares of the company's stock worth $63,000 after purchasing an additional 2,595 shares during the last quarter. Ameriprise Financial Inc. bought a new stake in Abivax during the 4th quarter worth about $85,000. Guggenheim Capital LLC bought a new stake in Abivax during the 4th quarter worth about $92,000. Finally, Stonepine Capital Management LLC bought a new stake in Abivax during the 4th quarter worth about $110,000. 47.91% of the stock is owned by 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.

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