ABIVAX Société Anonyme (NASDAQ:ABVX) Shares Gap Up to $15.78

ABIVAX Société Anonyme (NASDAQ:ABVX - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $15.78, but opened at $16.63. ABIVAX Société Anonyme shares last traded at $16.15, with a volume of 31,559 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have commented on ABVX shares. Morgan Stanley lifted their target price on shares of ABIVAX Société Anonyme from $15.00 to $16.00 and gave the stock an "equal weight" rating in a report on Thursday, April 11th. Piper Sandler assumed coverage on ABIVAX Société Anonyme in a report on Monday. They issued an "overweight" rating and a $42.00 price objective for the company. Finally, Guggenheim began coverage on ABIVAX Société Anonyme in a research note on Monday. They issued a "buy" rating and a $50.00 target price on the stock. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $32.00.

ABIVAX Société Anonyme Stock Performance

The company's fifty day simple moving average is $14.51.

Hedge Funds Weigh In On ABIVAX Société Anonyme

Several institutional investors have recently modified their holdings of the business. Capstone Investment Advisors LLC acquired a new stake in ABIVAX Société Anonyme during the 4th quarter worth approximately $618,000. Ghisallo Capital Management LLC bought a new stake in shares of ABIVAX Société Anonyme during the fourth quarter worth $642,000. Rosalind Advisors Inc. acquired a new stake in shares of ABIVAX Société Anonyme during the first quarter worth $5,411,000. Franklin Resources Inc. acquired a new position in ABIVAX Société Anonyme in the 4th quarter worth $13,630,000. Finally, Great Point Partners LLC bought a new position in ABIVAX Société Anonyme during the 4th quarter worth about $16,585,000. Institutional investors own 47.91% of the company's stock.

About ABIVAX Société Anonyme

ABIVAX Société Anonyme, a clinical-stage biotechnology company, focuses on developing therapeutics that harness the body's natural regulatory mechanisms to modulate 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.