Abivax (NASDAQ:ABVX) Sees Strong Trading Volume – Still a Buy?

Abivax SA Sponsored ADR (NASDAQ:ABVX) shares saw strong trading volume on Thursday . 956,903 shares traded hands during mid-day trading, a decline of 30% from the previous session’s volume of 1,368,668 shares.The stock last traded at $97.1860 and had previously closed at $90.15.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ABVX shares. Citigroup reaffirmed an “outperform” rating on shares of Abivax in a research report on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of Abivax in a research note on Monday, April 20th. Wedbush upgraded shares of Abivax from an “underperform” rating to a “neutral” rating and decreased their price target for the stock from $110.00 to $90.00 in a research report on Tuesday. Wolfe Research set a $136.00 target price on Abivax in a research note on Wednesday. Finally, Jefferies Financial Group cut shares of Abivax from a “buy” rating to a “hold” rating and cut their price target for the stock from $160.00 to $90.00 in a research note on Tuesday. Twelve research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Abivax currently has an average rating of “Moderate Buy” and a consensus target price of $130.08.

Abivax Trading Up 7.0%

The company has a 50 day moving average price of $117.10 and a 200-day moving average price of $119.87. The company has a market cap of $7.68 billion, a P/E ratio of -18.50 and a beta of 0.69.

Abivax (NASDAQ:ABVX) last announced its earnings results on Friday, May 22nd. The company reported ($0.71) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.94) by $0.23. The business had revenue of $1.56 million during the quarter, compared to analysts’ expectations of $0.40 million. Equities analysts expect that Abivax SA Sponsored ADR will post -3.03 earnings per share for the current year.

Hedge Funds Weigh In On Abivax

A number of hedge funds have recently modified their holdings of ABVX. Optiver Holding B.V. raised its position in shares of Abivax by 985.6% during the 1st quarter. Optiver Holding B.V. now owns 4,538 shares of the company’s stock valued at $505,000 after purchasing an additional 4,120 shares during the period. Avidity Partners Management LP bought a new position in Abivax in the 1st quarter worth $1,114,000. Bank of America Corp DE increased its stake in Abivax by 40.9% in the 1st quarter. Bank of America Corp DE now owns 735,729 shares of the company’s stock worth $81,923,000 after buying an additional 213,440 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Abivax by 31.6% in the first quarter. Janus Henderson Group PLC now owns 878,829 shares of the company’s stock valued at $98,007,000 after acquiring an additional 211,068 shares in the last quarter. Finally, Oddo BHF Asset Management Sas boosted its stake in shares of Abivax by 2.7% in the first quarter. Oddo BHF Asset Management Sas now owns 81,496 shares of the company’s stock worth $9,075,000 after acquiring an additional 2,146 shares during the period. 47.91% of the stock is currently owned by institutional investors.

Abivax Company 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.