Abivax (NASDAQ:ABVX) Sets New 52-Week High - Time to Buy?

Key Points

• Abivax's stock price reached a new 52-week high of $73.55, with significant trading volume of 376,555 shares.
• Several analysts have upgraded their price targets for Abivax, with estimates reaching as high as $112.00, indicating strong investor confidence.
• Institutional investors own 47.91% of Abivax's stock, highlighting increasing interest and support from major financial entities.

Abivax SA Sponsored ADR (NASDAQ:ABVX - Get Free Report)'s stock price hit a new 52-week high on Thursday . The company traded as high as $73.55 and last traded at $73.42, with a volume of 376555 shares trading hands. The stock had previously closed at $70.84.

Analyst Upgrades and Downgrades

ABVX has been the topic of a number of analyst reports. Citigroup reiterated a "market outperform" rating on shares of Abivax in a research report on Friday, July 18th. Piper Sandler lifted their price objective on shares of Abivax from $70.00 to $112.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Lifesci Capital raised their target price on shares of Abivax from $45.00 to $101.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. JMP Securities lifted their price objective on shares of Abivax from $33.00 to $95.00 and gave the stock a "market outperform" rating in a research report on Wednesday, July 23rd. Finally, Guggenheim lifted their price objective on shares of Abivax from $50.00 to $101.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $92.33.

Abivax Price Performance

The stock has a 50 day moving average of $17.46 and a 200 day moving average of $10.33. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.25 and a quick ratio of 1.25.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE increased 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 valued at $41,000 after buying an additional 1,990 shares during the period. Cubist Systematic Strategies LLC grew its position in shares of Abivax by 34.3% during the 1st quarter. Cubist Systematic Strategies LLC now owns 10,152 shares of the company's stock worth $63,000 after buying an additional 2,595 shares during the period. Ameriprise Financial Inc. acquired a new stake in shares of Abivax during the 4th quarter worth approximately $85,000. Guggenheim Capital LLC acquired a new stake in shares of Abivax during the 4th quarter worth approximately $92,000. Finally, Stonepine Capital Management LLC acquired a new stake in shares of Abivax during the 4th quarter worth approximately $110,000. Institutional investors and hedge funds own 47.91% of the company's stock.

About Abivax

ABIVAX Société Anonyme, a clinical-stage biotechnology company, focuses on developing therapeutics that harness the body's natural regulatory mechanisms to stablize the immune response in patients with chronic inflammatory diseases. The company is evaluating its lead drug candidate, obefazimod, in Phase 3 clinical trials for the treatment of moderately to severely active ulcerative colitis in adults.