First Turn Management LLC lifted its stake in shares of Abivax SA Sponsored ADR (NASDAQ:ABVX – Free Report) by 30.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 381,233 shares of the company’s stock after buying an additional 89,413 shares during the period. Abivax comprises about 5.9% of First Turn Management LLC’s holdings, making the stock its largest position. First Turn Management LLC’s holdings in Abivax were worth $51,411,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of ABVX. UBS Group AG increased its position in shares of Abivax by 2,561.0% during the third quarter. UBS Group AG now owns 4,461,262 shares of the company’s stock valued at $378,761,000 after buying an additional 4,293,606 shares during the period. Darwin Global Management Ltd. purchased a new position in shares of Abivax during the third quarter valued at about $263,698,000. Morgan Stanley increased its position in shares of Abivax by 114.3% during the fourth quarter. Morgan Stanley now owns 3,151,994 shares of the company’s stock valued at $425,062,000 after buying an additional 1,681,277 shares during the period. Paradigm Biocapital Advisors LP purchased a new position in shares of Abivax during the third quarter valued at about $132,800,000. Finally, TCG Crossover Management LLC increased its position in shares of Abivax by 17.4% during the third quarter. TCG Crossover Management LLC now owns 7,111,596 shares of the company’s stock valued at $603,774,000 after buying an additional 1,055,000 shares during the period. Hedge funds and other institutional investors own 47.91% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on ABVX. Wedbush upgraded shares of Abivax from an “underperform” rating to a “neutral” rating and reduced their price target for the company from $110.00 to $90.00 in a research report on Tuesday, June 2nd. BTIG Research reiterated a “buy” rating and set a $150.00 price target on shares of Abivax in a research report on Tuesday, June 2nd. Wolfe Research set a $136.00 price target on shares of Abivax in a research report on Wednesday, June 3rd. Jefferies Financial Group cut shares of Abivax from a “buy” rating to a “hold” rating and cut their price objective for the stock from $160.00 to $90.00 in a report on Tuesday, June 2nd. Finally, Wall Street Zen upgraded shares of Abivax from a “sell” rating to a “hold” rating in a report on Saturday, May 23rd. Twelve research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $130.08.
Abivax Stock Performance
Shares of ABVX opened at $96.55 on Friday. The stock has a market cap of $7.69 billion, a PE ratio of -18.53 and a beta of 0.69. Abivax SA Sponsored ADR has a fifty-two week low of $5.69 and a fifty-two week high of $148.83. The firm’s 50-day simple moving average is $116.01 and its two-hundred day simple moving average is $119.12.
Abivax (NASDAQ:ABVX – Get Free Report) last announced its quarterly earnings data on Friday, May 22nd. The company reported ($0.71) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.94) by $0.23. The business had revenue of $1.56 million during the quarter, compared to analysts’ expectations of $0.40 million. Equities research analysts predict that Abivax SA Sponsored ADR will post -3.4 EPS for the current year.
About Abivax
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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