Brummer Multi Strategy AB boosted its position in shares of Abivax SA Sponsored ADR (NASDAQ:ABVX – Free Report) by 56.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,428 shares of the company’s stock after buying an additional 8,053 shares during the quarter. Abivax accounts for approximately 10.4% of Brummer Multi Strategy AB’s investment portfolio, making the stock its 4th largest position. Brummer Multi Strategy AB’s holdings in Abivax were worth $2,497,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. lifted its holdings in shares of Abivax by 43.3% in the 1st quarter. Principal Financial Group Inc. now owns 312,274 shares of the company’s stock worth $34,772,000 after acquiring an additional 94,384 shares during the last quarter. Diversify Wealth Management LLC grew its holdings in Abivax by 470.3% during the 1st quarter. Diversify Wealth Management LLC now owns 17,736 shares of the company’s stock valued at $1,884,000 after purchasing an additional 14,626 shares during the last quarter. Candriam S.C.A. bought a new position in Abivax during the 1st quarter valued at about $4,015,000. Hsbc Holdings PLC raised its position in Abivax by 335.9% in the 1st quarter. Hsbc Holdings PLC now owns 15,426 shares of the company’s stock worth $1,712,000 after purchasing an additional 11,887 shares during the period. Finally, Personal CFO Solutions LLC raised its position in Abivax by 10.5% in the 1st quarter. Personal CFO Solutions LLC now owns 3,027 shares of the company’s stock worth $337,000 after purchasing an additional 288 shares during the period. Institutional investors own 47.91% of the company’s stock.
Analyst Ratings Changes
Several research analysts have issued reports on ABVX shares. Truist Financial boosted their target price on Abivax from $135.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Morgan Stanley decreased their price target on Abivax from $145.00 to $132.00 and set an “overweight” rating for the company in a research note on Tuesday, June 2nd. Citizens Jmp restated a “market outperform” rating and set a $187.00 price objective on shares of Abivax in a report on Wednesday, July 1st. Wolfe Research set a $136.00 price objective on Abivax in a research report on Wednesday, June 3rd. Finally, Piper Sandler increased their target price on Abivax from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Fourteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $148.54.
Abivax Stock Performance
Shares of NASDAQ ABVX opened at $137.77 on Friday. Abivax SA Sponsored ADR has a 52-week low of $9.78 and a 52-week high of $148.83. The firm has a market capitalization of $10.99 billion, a price-to-earnings ratio of -26.44 and a beta of 0.87. The stock has a 50 day moving average price of $116.69 and a 200 day moving average price of $118.34.
Abivax (NASDAQ:ABVX – Get Free Report) last released its quarterly earnings data on Friday, May 22nd. The company reported ($0.71) EPS for the quarter, topping the consensus estimate of ($0.94) by $0.23. The firm had revenue of $1.56 million for the quarter, compared to analysts’ expectations of $0.40 million. Analysts forecast that Abivax SA Sponsored ADR will post -3.4 earnings per share for the current year.
Abivax Profile
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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