Abivax (NASDAQ:ABVX) Stock Rating Reaffirmed as “Overweight” by Barclays

Abivax (NASDAQ:ABVX)‘s stock had its “overweight” rating reissued by Barclays in a note issued to investors on Tuesday, Benzinga reports. They currently have a $148.00 price target on the stock. Barclays‘s price target indicates a potential upside of 52.81% from the stock’s previous close.

A number of other research firms also recently weighed in on ABVX. Citizens Jmp reissued a “market outperform” rating and set a $187.00 target price on shares of Abivax in a report on Wednesday, July 1st. BTIG Research boosted their price target on shares of Abivax from $150.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, June 30th. Citigroup restated an “outperform” rating on shares of Abivax in a research note on Tuesday, June 2nd. Piper Sandler raised their price target on shares of Abivax from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Finally, Guggenheim reissued a “buy” rating on shares of Abivax in a research report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $156.69.

Abivax Stock Up 6.4%

Shares of ABVX stock traded up $5.79 during trading on Tuesday, reaching $96.85. The company’s stock had a trading volume of 1,679,970 shares, compared to its average volume of 1,283,654. The business has a fifty day moving average price of $117.40 and a 200-day moving average price of $117.18. The company has a market cap of $8.46 billion, a price-to-earnings ratio of -15.98 and a beta of 0.96. Abivax has a one year low of $69.81 and a one year high of $148.83.

Abivax (NASDAQ:ABVX) last announced its quarterly earnings data on Monday, September 21st. The company reported ($1.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.79). The firm had revenue of $1.37 million for the quarter, compared to analyst estimates of $0.80 million. Research analysts anticipate that Abivax will post -4.18 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Engineers Gate Manager LP bought a new position in shares of Abivax in the second quarter worth approximately $284,000. Readystate Asset Management LP raised its stake in shares of Abivax by 19.6% during the second quarter. Readystate Asset Management LP now owns 241,530 shares of the company’s stock worth $32,186,000 after acquiring an additional 39,508 shares in the last quarter. Troluce Capital Advisors LLC purchased a new position in shares of Abivax during the second quarter worth approximately $133,000. Seven Fleet Capital Management LP raised its stake in shares of Abivax by 158.6% during the second quarter. Seven Fleet Capital Management LP now owns 111,334 shares of the company’s stock worth $14,836,000 after acquiring an additional 68,282 shares in the last quarter. Finally, FNY Investment Advisers LLC raised its stake in shares of Abivax by 7.3% during the second quarter. FNY Investment Advisers LLC now owns 7,605 shares of the company’s stock worth $1,013,000 after acquiring an additional 519 shares in the last quarter. 47.91% of the stock is currently owned by institutional investors.

About Abivax

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.