Readystate Asset Management LP Boosts Stake in Abivax SA Sponsored ADR $ABVX

Readystate Asset Management LP grew its stake in Abivax SA Sponsored ADR (NASDAQ:ABVX) by 111.0% during the first quarter, HoldingsChannel reports. The fund owned 202,022 shares of the company’s stock after acquiring an additional 106,293 shares during the quarter. Abivax comprises about 1.0% of Readystate Asset Management LP’s holdings, making the stock its 21st largest position. Readystate Asset Management LP’s holdings in Abivax were worth $22,495,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in ABVX. GHP Investment Advisors Inc. lifted its stake in shares of Abivax by 155.6% during the 1st quarter. GHP Investment Advisors Inc. now owns 230 shares of the company’s stock worth $26,000 after purchasing an additional 140 shares during the last quarter. WPG Advisers LLC grew its stake in Abivax by 125.9% in the fourth quarter. WPG Advisers LLC now owns 454 shares of the company’s stock valued at $61,000 after purchasing an additional 253 shares during the last quarter. Assetmark Inc. grew its stake in Abivax by 41.5% in the first quarter. Assetmark Inc. now owns 886 shares of the company’s stock valued at $99,000 after purchasing an additional 260 shares during the last quarter. SmartHarvest Portfolios LLC raised its holdings in Abivax by 11.6% in the first quarter. SmartHarvest Portfolios LLC now owns 2,696 shares of the company’s stock worth $300,000 after purchasing an additional 280 shares in the last quarter. Finally, Personal CFO Solutions LLC raised its holdings in Abivax by 10.5% in the first quarter. Personal CFO Solutions LLC now owns 3,027 shares of the company’s stock worth $337,000 after purchasing an additional 288 shares in the last quarter. 47.91% of the stock is owned by institutional investors.

Abivax Trading Down 2.9%

Shares of Abivax stock opened at $124.23 on Wednesday. Abivax SA Sponsored ADR has a 12-month low of $66.11 and a 12-month high of $148.83. The firm has a market capitalization of $10.84 billion, a price-to-earnings ratio of -23.84 and a beta of 0.87. The firm’s 50 day simple moving average is $118.49 and its two-hundred day simple moving average is $118.27.

Abivax (NASDAQ:ABVX) last posted its quarterly earnings results on Friday, May 22nd. The company reported ($0.71) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.94) by $0.23. The company had revenue of $1.56 million during the quarter, compared to analysts’ expectations of $0.40 million. On average, sell-side analysts predict that Abivax SA Sponsored ADR will post -3.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Oddo Bhf reaffirmed an “outperform” rating on shares of Abivax in a research report on Thursday, April 9th. Wedbush raised their target price on shares of Abivax from $90.00 to $110.00 and gave the company a “neutral” rating in a research note on Tuesday, June 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Abivax in a report on Friday, July 17th. BTIG Research raised their price objective on Abivax from $150.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, June 30th. Finally, Wolfe Research set a $136.00 target price on Abivax in a research note on Wednesday, June 3rd. Thirteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $156.50.

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.