Abivax (NASDAQ:ABVX) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Abivax (NASDAQ:ABVX) from a hold rating to a sell rating in a research report released on Saturday.

Several other analysts have also commented on the company. Guggenheim raised their target price on Abivax from $101.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, October 10th. JMP Securities upped their price target on shares of Abivax from $95.00 to $114.00 and gave the stock a “market outperform” rating in a research report on Thursday, September 25th. Wolfe Research raised Abivax to a “strong-buy” rating in a report on Thursday, November 6th. Truist Financial set a $140.00 price target on Abivax in a research note on Monday, November 24th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Abivax in a report on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Abivax presently has an average rating of “Moderate Buy” and a consensus target price of $123.00.

Abivax Stock Performance

NASDAQ:ABVX opened at $117.91 on Friday. The company’s 50-day simple moving average is $106.88 and its 200-day simple moving average is $69.34. Abivax has a fifty-two week low of $4.77 and a fifty-two week high of $138.49. The stock has a market capitalization of $9.19 billion, a P/E ratio of -68.16 and a beta of 0.49.

Abivax (NASDAQ:ABVX) last posted its quarterly earnings data on Monday, December 15th. The company reported ($2.46) earnings per share (EPS) for the quarter. The firm had revenue of ($4.92) million for the quarter. On average, research analysts forecast that Abivax will post -2.83 EPS for the current year.

Institutional Trading of Abivax

A number of institutional investors and hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC lifted its position in Abivax by 4,612.5% in the third quarter. EverSource Wealth Advisors LLC now owns 377 shares of the company’s stock valued at $32,000 after purchasing an additional 369 shares during the period. First Horizon Corp acquired a new stake in shares of Abivax in the 3rd quarter worth approximately $36,000. Bank of America Corp DE boosted its position in Abivax by 56.1% during the fourth quarter. Bank of America Corp DE now owns 5,536 shares of the company’s stock worth $41,000 after purchasing an additional 1,990 shares in the last quarter. Hantz Financial Services Inc. purchased a new stake in Abivax during the third quarter worth $52,000. Finally, Cubist Systematic Strategies LLC increased its position in shares of Abivax by 34.3% in the first quarter. Cubist Systematic Strategies LLC now owns 10,152 shares of the company’s stock valued at $63,000 after buying an additional 2,595 shares in the last quarter. 47.91% of the stock is currently owned by hedge funds and other institutional investors.

About Abivax

ABIVAX Société Anonyme, a clinical-stage biotechnology company, focuses on developing therapeutics that harness the body's natural regulatory mechanisms to stablize the immune response in patients with chronic inflammatory diseases. The company is evaluating its lead drug candidate, obefazimod, in Phase 3 clinical trials for the treatment of moderately to severely active ulcerative colitis in adults.