Melqart Asset Management UK Ltd Reduces Holdings in Abivax SA Sponsored ADR $ABVX

Melqart Asset Management UK Ltd decreased its position in shares of Abivax SA Sponsored ADR (NASDAQ:ABVX) by 48.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,991 shares of the company’s stock after selling 31,166 shares during the period. Melqart Asset Management UK Ltd’s holdings in Abivax were worth $4,449,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. UBS Group AG boosted its stake in shares of Abivax by 2,561.0% during the 3rd quarter. UBS Group AG now owns 4,461,262 shares of the company’s stock worth $378,761,000 after purchasing an additional 4,293,606 shares during the period. Darwin Global Management Ltd. purchased a new stake in Abivax in the 3rd quarter worth about $263,698,000. Morgan Stanley raised its position in Abivax by 114.3% in the 4th quarter. Morgan Stanley now owns 3,151,994 shares of the company’s stock worth $425,062,000 after purchasing an additional 1,681,277 shares during the period. Paradigm Biocapital Advisors LP bought a new stake in Abivax in the third quarter worth about $132,800,000. Finally, TCG Crossover Management LLC lifted its stake in Abivax by 17.4% in the third quarter. TCG Crossover Management LLC now owns 7,111,596 shares of the company’s stock worth $603,774,000 after purchasing an additional 1,055,000 shares during the last quarter. Hedge funds and other institutional investors own 47.91% of the company’s stock.

Abivax Price Performance

Shares of ABVX stock opened at $97.50 on Wednesday. The company has a market capitalization of $7.78 billion, a P/E ratio of -18.71 and a beta of 0.69. The company’s 50-day simple moving average is $115.19 and its two-hundred day simple moving average is $118.66. Abivax SA Sponsored ADR has a one year low of $5.69 and a one year high of $148.83.

Abivax (NASDAQ:ABVX) last posted its quarterly earnings results on Friday, May 22nd. The company reported ($0.71) earnings per share for the quarter, beating the consensus estimate of ($0.94) by $0.23. The company had revenue of $1.56 million for the quarter, compared to the consensus estimate of $0.40 million. On average, research analysts expect that Abivax SA Sponsored ADR will post -3.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Abivax in a research note on Monday, April 20th. Citigroup reissued an “outperform” rating on shares of Abivax in a research note on Tuesday, June 2nd. Truist Financial dropped their price objective on Abivax from $140.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, June 2nd. Morgan Stanley cut their price objective on Abivax from $145.00 to $132.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 2nd. Finally, Wall Street Zen upgraded Abivax from a “sell” rating to a “hold” rating in a research note on Saturday, May 23rd. Twelve research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Abivax currently has an average rating of “Moderate Buy” and a consensus price target of $130.08.

Abivax Profile

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.