Barclays Reiterates “Overweight” Rating for Abivax (NASDAQ:ABVX)

Abivax (NASDAQ:ABVX)‘s stock had its “overweight” rating reissued by research analysts at Barclays in a research report issued on Tuesday, Benzinga reports. They currently have a $148.00 price target on the stock. Barclays‘s price objective points to a potential upside of 62.53% from the company’s previous close.

Other research analysts also recently issued reports about the company. Truist Financial upped their price target on Abivax from $135.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Morgan Stanley restated an “overweight” rating and set a $180.00 price objective on shares of Abivax in a report on Friday, July 24th. Citigroup reaffirmed an “outperform” rating on shares of Abivax in a research report on Tuesday, June 2nd. Citizens Jmp reiterated a “market outperform” rating and issued a $187.00 target price on shares of Abivax in a report on Wednesday, July 1st. Finally, HC Wainwright 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 issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.69.

Abivax Trading Down 4.0%

NASDAQ ABVX traded down $3.81 on Tuesday, hitting $91.06. 1,484,795 shares of the company were exchanged, compared to its average volume of 1,440,811. The company has a market cap of $7.95 billion, a PE ratio of -15.03 and a beta of 0.96. The stock has a fifty day moving average of $118.31 and a 200-day moving average of $117.31. Abivax has a 12 month low of $69.81 and a 12 month high of $148.83.

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

Institutional Trading of Abivax

Institutional investors and hedge funds have recently modified their holdings of the stock. GHP Investment Advisors Inc. raised its holdings in shares of Abivax by 155.6% in the first quarter. GHP Investment Advisors Inc. now owns 230 shares of the company’s stock valued at $26,000 after purchasing an additional 140 shares during the last quarter. Versant Capital Management Inc purchased a new stake in Abivax in the 2nd quarter valued at about $30,000. Assetmark Inc. lifted its position in shares of Abivax by 41.5% during the 1st quarter. Assetmark Inc. now owns 886 shares of the company’s stock worth $99,000 after buying an additional 260 shares in the last quarter. SmartHarvest Portfolios LLC boosted its stake in shares of Abivax by 11.6% in the 1st quarter. SmartHarvest Portfolios LLC now owns 2,696 shares of the company’s stock worth $300,000 after buying an additional 280 shares during the last quarter. Finally, Personal CFO Solutions LLC grew its holdings in shares of Abivax by 10.5% in the first quarter. Personal CFO Solutions LLC now owns 3,027 shares of the company’s stock valued at $337,000 after acquiring an additional 288 shares in the last quarter. 47.91% of the stock is owned by hedge funds and other 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.