Abivax SA Sponsored ADR (NASDAQ:ABVX – Get Free Report) shares shot up 4.4% during mid-day trading on Monday. The company traded as high as $94.67 and last traded at $95.03. Approximately 235,529 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 1,433,359 shares. The stock had previously closed at $91.06.
Analyst Upgrades and Downgrades
A number of analysts have commented on the stock. Truist Financial reduced their target price on shares of Abivax from $155.00 to $151.00 and set a “buy” rating for the company in a report on Tuesday, September 22nd. The Goldman Sachs Group initiated coverage on shares of Abivax in a research note on Wednesday, September 9th. They set a “buy” rating and a $155.00 price target on the stock. Wolfe Research set a $136.00 price objective on shares of Abivax in a research report on Wednesday, June 3rd. Jefferies Financial Group upgraded Abivax from a “hold” rating to a “buy” rating and upped their price objective for the stock from $108.00 to $158.00 in a research note on Tuesday, June 30th. Finally, Piper Sandler raised their target price on Abivax from $165.00 to $175.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $156.69.
Get Our Latest Stock Analysis on Abivax
Abivax Stock Performance
Abivax (NASDAQ:ABVX – Get Free Report) last announced its quarterly earnings data 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 analyst estimates of $0.80 million. On average, equities research analysts expect that Abivax SA Sponsored ADR will post -4.18 EPS for the current year.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in ABVX. GHP Investment Advisors Inc. increased its holdings in shares of Abivax by 155.6% in the 1st quarter. GHP Investment Advisors Inc. now owns 230 shares of the company’s stock worth $26,000 after buying an additional 140 shares during the last quarter. Versant Capital Management Inc purchased a new position in Abivax in the second quarter worth about $30,000. Assetmark Inc. grew its position in Abivax by 41.5% in the first quarter. Assetmark Inc. now owns 886 shares of the company’s stock worth $99,000 after acquiring an additional 260 shares in the last quarter. SmartHarvest Portfolios LLC increased its stake in Abivax by 11.6% during the first quarter. SmartHarvest Portfolios LLC now owns 2,696 shares of the company’s stock worth $300,000 after acquiring an additional 280 shares during the last quarter. Finally, Personal CFO Solutions LLC raised its position in Abivax by 10.5% during the first quarter. Personal CFO Solutions LLC now owns 3,027 shares of the company’s stock valued at $337,000 after purchasing an additional 288 shares during the period. 47.91% of the stock is owned by hedge funds and other institutional investors.
Abivax Company Profile
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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