Silverarc Capital Management LLC Sells 176,540 Shares of ABIVAX Société Anonyme (NASDAQ:ABVX)

Silverarc Capital Management LLC cut its stake in shares of ABIVAX Société Anonyme (NASDAQ:ABVX) by 38.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 285,120 shares of the company’s stock after selling 176,540 shares during the quarter. Silverarc Capital Management LLC’s holdings in ABIVAX Société Anonyme were worth $2,087,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. abrdn plc lifted its stake in shares of ABIVAX Société Anonyme by 34.1% in the 4th quarter. abrdn plc now owns 424,181 shares of the company’s stock worth $3,105,000 after purchasing an additional 107,750 shares during the period. GAMMA Investing LLC bought a new stake in ABIVAX Société Anonyme during the 4th quarter worth approximately $29,000. JPMorgan Chase & Co. purchased a new position in ABIVAX Société Anonyme during the fourth quarter valued at approximately $5,336,000. Franklin Resources Inc. increased its stake in shares of ABIVAX Société Anonyme by 10.7% in the fourth quarter. Franklin Resources Inc. now owns 1,466,062 shares of the company’s stock worth $10,732,000 after purchasing an additional 141,710 shares in the last quarter. Finally, ADAR1 Capital Management LLC lifted its stake in shares of ABIVAX Société Anonyme by 190.1% during the 4th quarter. ADAR1 Capital Management LLC now owns 1,513,393 shares of the company’s stock valued at $11,078,000 after buying an additional 991,781 shares in the last quarter. 47.91% of the stock is currently owned by hedge funds and other institutional investors.

ABIVAX Société Anonyme Stock Down 2.7 %

Shares of NASDAQ:ABVX opened at $6.23 on Tuesday. The company has a 50-day moving average price of $6.69 and a 200 day moving average price of $7.67. ABIVAX Société Anonyme has a 12 month low of $4.77 and a 12 month high of $16.63.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. JMP Securities reissued a “market outperform” rating and set a $33.00 target price on shares of ABIVAX Société Anonyme in a research note on Friday, January 10th. Morgan Stanley reiterated an “equal weight” rating and issued a $12.00 price target on shares of ABIVAX Société Anonyme in a research note on Thursday, March 20th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $38.00.

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 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.