JMP Securities Reiterates “Market Outperform” Rating for ABIVAX Société Anonyme (NASDAQ:ABVX)

ABIVAX Société Anonyme (NASDAQ:ABVX)‘s stock had its “market outperform” rating reaffirmed by analysts at JMP Securities in a note issued to investors on Wednesday,Benzinga reports. They presently have a $33.00 target price on the stock. JMP Securities’ price target would suggest a potential upside of 377.57% from the company’s previous close.

Separately, Morgan Stanley reissued an “equal weight” rating and set a $12.00 target price on shares of ABIVAX Société Anonyme in a research report on Thursday, March 20th. One research 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’s stock. According to data from MarketBeat.com, ABIVAX Société Anonyme presently has an average rating of “Buy” and a consensus price target of $34.00.

ABIVAX Société Anonyme Price Performance

ABVX opened at $6.91 on Wednesday. ABIVAX Société Anonyme has a fifty-two week low of $4.77 and a fifty-two week high of $15.10. The company’s 50-day moving average is $6.60 and its 200 day moving average is $7.56.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. ADAR1 Capital Management LLC lifted its stake in ABIVAX Société Anonyme by 190.1% in the fourth quarter. ADAR1 Capital Management LLC now owns 1,513,393 shares of the company’s stock valued at $11,078,000 after purchasing an additional 991,781 shares during the last quarter. Franklin Resources Inc. raised 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 valued at $10,732,000 after buying an additional 141,710 shares during the period. Nantahala Capital Management LLC lifted its position in shares of ABIVAX Société Anonyme by 45.7% during the 4th quarter. Nantahala Capital Management LLC now owns 1,436,047 shares of the company’s stock valued at $10,512,000 after buying an additional 450,413 shares during the last quarter. Millennium Management LLC grew its stake in shares of ABIVAX Société Anonyme by 44.2% during the 4th quarter. Millennium Management LLC now owns 931,179 shares of the company’s stock worth $6,816,000 after acquiring an additional 285,542 shares during the period. Finally, Citadel Advisors LLC increased its holdings in ABIVAX Société Anonyme by 83.5% in the 4th quarter. Citadel Advisors LLC now owns 855,676 shares of the company’s stock worth $6,264,000 after acquiring an additional 389,247 shares during the last quarter. 47.91% of the stock is owned by 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.