Spruce Street Capital LP Invests $6.62 Million in Abivax SA Sponsored ADR $ABVX

Spruce Street Capital LP acquired a new position in Abivax SA Sponsored ADR (NASDAQ:ABVX) in the 4th quarter, HoldingsChannel reports. The firm acquired 49,119 shares of the company’s stock, valued at approximately $6,624,000. Abivax accounts for about 2.2% of Spruce Street Capital LP’s holdings, making the stock its 17th biggest position.

Several other institutional investors and hedge funds have also recently modified their holdings of ABVX. EverSource Wealth Advisors LLC raised its stake in shares of Abivax by 4,612.5% in the third quarter. EverSource Wealth Advisors LLC now owns 377 shares of the company’s stock worth $32,000 after purchasing an additional 369 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Abivax by 56.1% in the fourth quarter. Bank of America Corp DE now owns 5,536 shares of the company’s stock worth $41,000 after purchasing an additional 1,990 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in shares of Abivax by 661.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 396 shares of the company’s stock worth $53,000 after purchasing an additional 344 shares during the last quarter. WPG Advisers LLC raised its stake in shares of Abivax by 125.9% in the fourth quarter. WPG Advisers LLC now owns 454 shares of the company’s stock worth $61,000 after purchasing an additional 253 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its holdings in shares of Abivax by 34.3% in the first quarter. Cubist Systematic Strategies LLC now owns 10,152 shares of the company’s stock valued at $63,000 after acquiring an additional 2,595 shares in the last quarter. 47.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Truist Financial reduced their target price on Abivax from $140.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, June 2nd. Wedbush raised Abivax from an “underperform” rating to a “neutral” rating and reduced their target price for the company from $110.00 to $90.00 in a report on Tuesday, June 2nd. BTIG Research reaffirmed a “buy” rating and issued a $150.00 target price on shares of Abivax in a report on Tuesday, June 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Abivax in a report on Monday, April 20th. Finally, Morgan Stanley reduced their target price on Abivax from $145.00 to $132.00 and set an “overweight” rating for the company in a report on Tuesday, June 2nd. Twelve analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Abivax currently has an average rating of “Moderate Buy” and a consensus price target of $130.08.

Abivax Price Performance

NASDAQ:ABVX opened at $98.26 on Tuesday. The company has a market capitalization of $7.84 billion, a P/E ratio of -18.86 and a beta of 0.69. The business has a fifty day simple moving average of $115.61 and a two-hundred day simple moving average of $118.86. Abivax SA Sponsored ADR has a 1 year low of $5.69 and a 1 year high of $148.83.

Abivax (NASDAQ:ABVX) last issued its earnings results on Friday, May 22nd. The company reported ($0.71) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.94) by $0.23. The firm had revenue of $1.56 million during the quarter, compared to the consensus estimate of $0.40 million. As a group, analysts anticipate that Abivax SA Sponsored ADR will post -3.4 earnings per share for the current year.

About Abivax

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.