Abivax SA Sponsored ADR $ABVX Stock Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA grew its stake in shares of Abivax SA Sponsored ADR (NASDAQ:ABVX) by 4.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 514,540 shares of the company’s stock after acquiring an additional 22,472 shares during the period. Pictet Asset Management Holding SA’s holdings in Abivax were worth $50,949,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Versant Capital Management Inc acquired a new position in shares of Abivax in the second quarter valued at approximately $30,000. Assetmark Inc. increased its stake in shares of Abivax by 41.5% during the first quarter. Assetmark Inc. now owns 886 shares of the company’s stock worth $99,000 after purchasing an additional 260 shares during the period. FNY Investment Advisers LLC lifted its holdings in Abivax by 7.3% during the 2nd quarter. FNY Investment Advisers LLC now owns 7,605 shares of the company’s stock worth $1,013,000 after purchasing an additional 519 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Abivax by 16.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,766 shares of the company’s stock worth $419,000 after purchasing an additional 521 shares during the last quarter. Finally, Avior Wealth Management LLC lifted its holdings in Abivax by 17.9% during the 3rd quarter. Avior Wealth Management LLC now owns 3,581 shares of the company’s stock worth $355,000 after purchasing an additional 544 shares during the last quarter. Institutional investors own 47.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Barclays restated an “overweight” rating and issued a $148.00 price target on shares of Abivax in a research note on Tuesday, September 22nd. Guggenheim reiterated a “buy” rating and set a $175.00 price objective on shares of Abivax in a research note on Tuesday, October 20th. The Goldman Sachs Group initiated coverage on shares of Abivax in a report on Wednesday, September 9th. They set a “buy” rating and a $155.00 price target for the company. Morgan Stanley reissued an “overweight” rating and issued a $180.00 price objective on shares of Abivax in a research note on Friday, July 24th. Finally, Piper Sandler restated an “overweight” rating on shares of Abivax in a research report on Wednesday, October 21st. 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 company’s stock. Based on data from MarketBeat, Abivax presently has a consensus rating of “Moderate Buy” and an average target price of $155.00.

Abivax Trading Up 3.4%

Shares of NASDAQ ABVX opened at $90.00 on Wednesday. The company has a market cap of $7.88 billion, a price-to-earnings ratio of -14.85 and a beta of 1.36. Abivax SA Sponsored ADR has a 12 month low of $69.81 and a 12 month high of $148.83. The stock has a 50-day moving average price of $96.24 and a two-hundred day moving average price of $112.99.

Abivax (NASDAQ:ABVX) last released its quarterly earnings data on Monday, September 21st. The company reported ($1.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.79). The company had revenue of $1.37 million for the quarter, compared to analyst estimates of $0.80 million. On average, sell-side analysts predict that Abivax SA Sponsored ADR will post -4.14 earnings per share for the current year.

Abivax Profile

Abivax is a clinical-stage biopharmaceutical company headquartered in Paris, France. It develops treatments for chronic inflammatory diseases, with a focus on therapies that regulate the body’s immune response. The company’s lead candidate, obefazimod (formerly known as ABX464), is an oral small molecule being studied for ulcerative colitis and other inflammatory conditions. It is designed to increase production of miR-124, a molecule involved in regulating inflammation. Founded in 2013, Abivax conducts clinical development internationally.