Abivax (NASDAQ:ABVX) Sets New 12-Month High - Should You 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 stock traded as high as $73.55 and last traded at $73.42, with a volume of 376555 shares traded. The stock had previously closed at $70.84.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ABVX. Morgan Stanley upgraded shares of Abivax from an "equal weight" rating to an "overweight" rating and set a $71.00 price target on the stock in a report on Wednesday, July 23rd. Leerink Partners set a $74.00 price target on shares of Abivax and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. Lifesci Capital increased their price target on shares of Abivax from $45.00 to $101.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. Piper Sandler increased their price target on shares of Abivax from $70.00 to $112.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Finally, JMP Securities raised their price objective on shares of Abivax from $33.00 to $95.00 and gave the stock a "market outperform" rating in a research note on Wednesday, July 23rd. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $92.33.

Abivax Stock Performance

The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.25 and a current ratio of 1.25. The business has a 50-day moving average price of $17.46 and a 200-day moving average price of $10.36.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its holdings in Abivax by 56.1% in the 4th quarter. Bank of America Corp DE now owns 5,536 shares of the company's stock valued at $41,000 after purchasing an additional 1,990 shares in the last quarter. Cubist Systematic Strategies LLC grew its position in Abivax by 34.3% in the 1st 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. Ameriprise Financial Inc. acquired a new position in Abivax in the 4th quarter valued at about $85,000. Guggenheim Capital LLC acquired a new position in Abivax in the 4th quarter valued at about $92,000. Finally, Stonepine Capital Management LLC acquired a new position in Abivax in the 4th quarter valued at about $110,000. Hedge funds and other institutional investors 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.