Abivax (NASDAQ:ABVX) Shares Gap Up After Analyst Upgrade

Shares of Abivax SA Sponsored ADR (NASDAQ:ABVX – Get Free Report) gapped up before the market opened on Tuesday after Wedbush raised their price target on the stock from $90.00 to $110.00. The stock had previously closed at $96.15, but opened at $130.90. Wedbush currently has a neutral rating on the stock. Abivax shares last traded at $131.7760, with a volume of 2,779,809 shares changing hands.

A number of other equities analysts have also issued reports on the company. Jefferies Financial Group lowered Abivax from a “buy” rating to a “hold” rating and cut their target price for the company from $160.00 to $90.00 in a research report on Tuesday, June 2nd. Truist Financial decreased their price target on shares of Abivax from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, June 2nd. Morgan Stanley dropped their price target on shares of Abivax from $145.00 to $132.00 and set an “overweight” rating for the company in a research note on Tuesday, June 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Abivax in a report on Monday, April 20th. Finally, BTIG Research increased their price objective on shares of Abivax from $150.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday. Thirteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Abivax currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.54.

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Institutional Trading of Abivax

A number of large investors have recently modified their holdings of the company. GHP Investment Advisors Inc. raised its stake in shares of Abivax by 155.6% during the first quarter. GHP Investment Advisors Inc. now owns 230 shares of the company’s stock valued at $26,000 after purchasing an additional 140 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Abivax by 4,612.5% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 377 shares of the company’s stock worth $32,000 after buying an additional 369 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of Abivax by 661.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 396 shares of the company’s stock worth $53,000 after acquiring an additional 344 shares during the period. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Abivax in the 4th quarter worth approximately $61,000. Finally, WPG Advisers LLC boosted its holdings in shares of Abivax by 125.9% in the fourth quarter. WPG Advisers LLC now owns 454 shares of the company’s stock valued at $61,000 after acquiring an additional 253 shares in the last quarter. Institutional investors and hedge funds own 47.91% of the company’s stock.

Abivax Price Performance

The firm has a market capitalization of $10.55 billion, a P/E ratio of -25.37 and a beta of 0.69. The firm’s fifty day moving average price is $110.78 and its 200-day moving average price is $117.38.

Abivax (NASDAQ:ABVX – Get Free Report) last posted its quarterly earnings data on Friday, May 22nd. The company reported ($0.71) EPS for the quarter, topping analysts’ consensus estimates of ($0.94) by $0.23. The firm had revenue of $1.56 million during the quarter, compared to the consensus estimate of $0.40 million. Analysts expect that Abivax SA Sponsored ADR will post -3.4 earnings per share for the current year.

Abivax Company Profile

(Get Free Report)

Founded in 2013 and headquartered in Paris, France, Abivax is a clinical-stage biopharmaceutical company focused on discovering and developing novel therapies for chronic inflammatory diseases and viral infections. The company’s technology platform targets host RNA biogenesis to modulate key immune pathways, offering a differentiated approach aimed at disease modification and improved safety profiles.

Abivax’s lead clinical asset, obefazimod (ABX464), is being evaluated in ulcerative colitis and other inflammatory disorders.

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