Abivax (NASDAQ:ABVX) Shares Gap Up After Analyst Upgrade

Abivax SA Sponsored ADR (NASDAQ:ABVX) shares gapped up prior to trading on Tuesday after Wedbush raised their price target on the stock from $90.00 to $110.00. The stock had previously closed at $96.15, but opened at $130.90. Wedbush currently has a neutral rating on the stock. Abivax shares last traded at $131.7760, with a volume of 2,779,809 shares changing hands.

A number of other equities analysts also recently weighed in on the stock. BTIG Research upped their price target on shares of Abivax from $150.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday. Citigroup reissued an “outperform” rating on shares of Abivax in a research report on Tuesday, June 2nd. Wolfe Research set a $136.00 target price on Abivax in a research note on Wednesday, June 3rd. Citizens Jmp upped their target price on Abivax from $131.00 to $187.00 and gave the stock a “market outperform” rating in a research report on Tuesday, June 2nd. Finally, Barclays raised their price target on Abivax from $142.00 to $148.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 24th. Thirteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Abivax has an average rating of “Moderate Buy” and a consensus target price of $133.54.

Institutional Trading of Abivax

Several hedge funds have recently added to or reduced their stakes in ABVX. TCG Crossover Management LLC lifted its holdings 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 worth $603,774,000 after buying an additional 1,055,000 shares during the last quarter. UBS Group AG grew its stake in shares of Abivax by 2,561.0% in the third quarter. UBS Group AG now owns 4,461,262 shares of the company’s stock worth $378,761,000 after acquiring an additional 4,293,606 shares during the last quarter. Darwin Global Management Ltd. increased its position in Abivax by 0.4% during the fourth quarter. Darwin Global Management Ltd. now owns 3,178,501 shares of the company’s stock worth $439,714,000 after acquiring an additional 14,000 shares during the period. Morgan Stanley increased its position in Abivax by 114.3% during the fourth quarter. Morgan Stanley now owns 3,151,994 shares of the company’s stock worth $425,062,000 after acquiring an additional 1,681,277 shares during the period. Finally, Vestal Point Capital LP raised its stake in Abivax by 90.0% during the 4th quarter. Vestal Point Capital LP now owns 1,900,000 shares of the company’s stock valued at $256,224,000 after purchasing an additional 900,000 shares during the last quarter. Institutional investors own 47.91% of the company’s stock.

Abivax Stock Performance

The company’s 50 day moving average is $110.78 and its 200 day moving average is $117.38. The stock has a market capitalization of $10.55 billion, a price-to-earnings ratio of -25.37 and a beta of 0.69.

Abivax (NASDAQ:ABVX) last announced its quarterly earnings data on Friday, May 22nd. The company reported ($0.71) earnings per share 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 analyst estimates of $0.40 million. On average, equities research analysts anticipate that Abivax SA Sponsored ADR will post -3.4 earnings per share for the current fiscal 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.