Guggenheim Initiates Coverage on ABIVAX Société Anonyme (NASDAQ:ABVX)

Equities researchers at Guggenheim started coverage on shares of ABIVAX Société Anonyme (NASDAQ:ABVX) in a note issued to investors on Monday, MarketBeat.com reports. The brokerage set a “buy” rating and a $50.00 price target on the stock. Guggenheim’s price target would indicate a potential upside of 233.33% from the company’s current price.

Separately, Morgan Stanley upped their price objective on shares of ABIVAX Société Anonyme from $15.00 to $16.00 and gave the company an “equal weight” rating in a research note on Thursday, April 11th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.00.

ABIVAX Société Anonyme Price Performance

NASDAQ:ABVX opened at $15.00 on Monday. The firm’s fifty day moving average price is $14.57. ABIVAX Société Anonyme has a 52 week low of $7.99 and a 52 week high of $17.02.

Hedge Funds Weigh In On ABIVAX Société Anonyme

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

ABIVAX Société Anonyme Company Profile

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.