Abivax (NASDAQ:ABVX – Get Free Report)‘s stock had its “buy” rating reissued by stock analysts at Guggenheim in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $175.00 price objective on the stock. Guggenheim’s target price suggests a potential upside of 88.68% from the company’s previous close.
A number of other brokerages also recently weighed in on ABVX. Barclays restated an “overweight” rating and issued a $148.00 target price on shares of Abivax in a research note on Tuesday, September 22nd. Wedbush dropped their price target on shares of Abivax from $140.00 to $118.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 22nd. Wall Street Zen downgraded Abivax from a “hold” rating to a “sell” rating in a research note on Saturday, September 26th. Jefferies Financial Group upgraded shares of Abivax from a “hold” rating to a “buy” rating and boosted their price target for the company from $108.00 to $158.00 in a research report on Tuesday, June 30th. Finally, BTIG Research raised their target price on shares of Abivax from $150.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Abivax has a consensus rating of “Moderate Buy” and a consensus price target of $156.69.
Check Out Our Latest Report on Abivax
Abivax Trading Up 6.0%
ABVX stock traded up $5.26 during mid-day trading on Tuesday, reaching $92.75. The company’s stock had a trading volume of 1,311,742 shares, compared to its average volume of 1,427,945. The business’s 50 day moving average price is $105.79 and its 200 day moving average price is $114.49. The company has a market cap of $8.12 billion, a price-to-earnings ratio of -15.28 and a beta of 1.14. Abivax has a 12 month low of $69.81 and a 12 month high of $148.83.
Abivax (NASDAQ:ABVX – Get Free Report) last issued its 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 firm had revenue of $1.37 million during the quarter, compared to the consensus estimate of $0.80 million. As a group, equities analysts expect that Abivax will post -4.04 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the company. Two Seas Capital LP bought a new stake in Abivax in the 3rd quarter valued at $66,996,000. Eversept Partners LP boosted its holdings in shares of Abivax by 42.0% during the 1st quarter. Eversept Partners LP now owns 934,423 shares of the company’s stock valued at $104,048,000 after purchasing an additional 276,589 shares during the last quarter. Bank of America Corp DE grew its position in shares of Abivax by 40.9% during the first quarter. Bank of America Corp DE now owns 735,729 shares of the company’s stock valued at $81,923,000 after purchasing an additional 213,440 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Abivax by 31.6% during the first quarter. Janus Henderson Group PLC now owns 878,829 shares of the company’s stock valued at $98,007,000 after purchasing an additional 211,068 shares in the last quarter. Finally, Readystate Asset Management LP increased its holdings in shares of Abivax by 111.0% in the first quarter. Readystate Asset Management LP now owns 202,022 shares of the company’s stock worth $22,495,000 after purchasing an additional 106,293 shares during the last quarter. 47.91% of the stock is owned by hedge funds and other institutional investors.
About Abivax
Abivax SA (NASDAQ: ABVX) is a clinical-stage biotechnology company focused on developing therapeutics for chronic inflammatory and immune-mediated diseases. Headquartered in Paris, France, the company conducts research and clinical development aimed at addressing conditions with significant unmet medical needs.
Abivax’s lead investigational product is obefazimod, an oral small-molecule therapy designed to selectively increase levels of microRNA-124, a regulatory molecule involved in controlling inflammatory responses.
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