ABIVAX Société Anonyme (NASDAQ:ABVX) Trading Up 3%

Shares of ABIVAX Société Anonyme (NASDAQ:ABVX) rose 3% during trading on Wednesday . The stock traded as high as $15.17 and last traded at $15.17. Approximately 8,071 shares were traded during trading, a decline of 93% from the average daily volume of 110,175 shares. The stock had previously closed at $14.73.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley lifted their price target on shares of ABIVAX Société Anonyme from $15.00 to $16.00 and gave the company an “equal weight” rating in a research report on Thursday, April 11th.

ABIVAX Société Anonyme Price Performance

The business’s 50-day moving average is $14.02.

Institutional Trading of ABIVAX Société Anonyme

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blackstone Inc. purchased a new stake in ABIVAX Société Anonyme in the fourth quarter valued at approximately $25,345,000. Commodore Capital LP purchased a new stake in shares of ABIVAX Société Anonyme during the fourth quarter worth $20,277,000. Great Point Partners LLC purchased a new stake in shares of ABIVAX Société Anonyme during the fourth quarter worth $16,585,000. Franklin Resources Inc. purchased a new stake in shares of ABIVAX Société Anonyme during the fourth quarter worth $13,630,000. Finally, Nantahala Capital Management LLC purchased a new stake in shares of ABIVAX Société Anonyme during the fourth quarter worth $10,807,000. Hedge funds and other 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.