ABIVAX Société Anonyme (NASDAQ:ABVX) Reaches New 52-Week Low – Here’s What Happened

Shares of ABIVAX Société Anonyme (NASDAQ:ABVX) hit a new 52-week low on Tuesday . The stock traded as low as $8.27 and last traded at $8.39, with a volume of 8114 shares changing hands. The stock had previously closed at $8.50.

Wall Street Analyst Weigh In

Separately, Laidlaw began coverage on shares of ABIVAX Société Anonyme in a report on Monday, July 29th. They issued a “buy” rating and a $48.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $39.80.

ABIVAX Société Anonyme Stock Performance

The firm has a 50 day simple moving average of $10.23 and a 200-day simple moving average of $11.86.

Institutional Trading of ABIVAX Société Anonyme

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 Asset Management L.P. increased its position in shares of ABIVAX Société Anonyme by 28.2% during the third quarter. Point72 Asset Management L.P. now owns 542,900 shares of the company’s stock valued at $6,254,000 after acquiring an additional 119,300 shares during the last quarter. Walleye Capital LLC boosted its position in shares of ABIVAX Société Anonyme by 45.8% during the 3rd quarter. Walleye Capital LLC now owns 257,417 shares of the company’s stock worth $2,965,000 after purchasing an additional 80,807 shares during the period. BNP Paribas Financial Markets increased its holdings in ABIVAX Société Anonyme by 82.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 13,044 shares of the company’s stock valued at $150,000 after purchasing an additional 5,900 shares during the last quarter. abrdn plc raised its position in ABIVAX Société Anonyme by 167.7% in the third quarter. abrdn plc now owns 316,431 shares of the company’s stock valued at $3,645,000 after purchasing an additional 198,225 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in ABIVAX Société Anonyme by 18.2% during the first quarter. Janus Henderson Group PLC now owns 851,839 shares of the company’s stock worth $12,113,000 after purchasing an additional 131,414 shares in the last quarter. 47.91% of the stock is currently owned by hedge funds and other institutional investors.

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.