Abivax (NASDAQ:ABVX – Free Report) had its target price cut by Truist Financial from $155.00 to $151.00 in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports. They currently have a buy rating on the stock.
Several other research firms also recently commented on ABVX. HC Wainwright reissued a “buy” rating on shares of Abivax in a research report on Tuesday, June 30th. Piper Sandler raised their price target on shares of Abivax from $165.00 to $175.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Citigroup reaffirmed an “outperform” rating on shares of Abivax in a research note on Tuesday, June 2nd. Leerink Partners lifted their price objective on shares of Abivax from $140.00 to $148.00 and gave the company an “outperform” rating in a research note on Tuesday, June 30th. Finally, Citizens Jmp reiterated a “market outperform” rating and issued a $187.00 price objective on shares of Abivax in a report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $156.69.
View Our Latest Stock Analysis on Abivax
Abivax Price Performance
Abivax (NASDAQ:ABVX – Get Free Report) last announced its quarterly earnings results on Monday, September 21st. The company reported ($1.71) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.79). The company had revenue of $1.37 million during the quarter, compared to analyst estimates of $0.80 million. On average, equities research analysts expect that Abivax will post -4.18 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Abivax
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Engineers Gate Manager LP bought a new position in shares of Abivax in the second quarter worth about $284,000. Readystate Asset Management LP boosted its stake in Abivax by 19.6% during the 2nd quarter. Readystate Asset Management LP now owns 241,530 shares of the company’s stock valued at $32,186,000 after purchasing an additional 39,508 shares during the period. Troluce Capital Advisors LLC bought a new stake in Abivax during the 2nd quarter valued at approximately $133,000. Seven Fleet Capital Management LP boosted its stake in Abivax by 158.6% during the 2nd quarter. Seven Fleet Capital Management LP now owns 111,334 shares of the company’s stock valued at $14,836,000 after purchasing an additional 68,282 shares during the period. Finally, FNY Investment Advisers LLC grew its holdings in Abivax by 7.3% in the 2nd quarter. FNY Investment Advisers LLC now owns 7,605 shares of the company’s stock valued at $1,013,000 after buying an additional 519 shares during the last quarter. 47.91% of the stock is owned by institutional investors and hedge funds.
About Abivax
Abivax is a clinical-stage biotechnology company headquartered in Paris, France, focused on developing oral therapies for chronic inflammatory and immune-mediated diseases. Its lead investigational product is obefazimod, an oral small-molecule therapy designed to enhance the production of microRNA-124, a regulator of inflammatory pathways.
Obefazimod is being developed primarily for ulcerative colitis, a chronic inflammatory disease of the colon, and has also been evaluated in Crohn’s disease.
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