Abivax (NASDAQ:ABVX - Free Report) had its price target boosted by Guggenheim from $50.00 to $101.00 in a report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.
Other analysts have also issued research reports about the stock. JMP Securities upped their target price on shares of Abivax from $33.00 to $95.00 and gave the stock a "market outperform" rating in a report on Wednesday. Citigroup reaffirmed a "market outperform" rating on shares of Abivax in a report on Friday, July 18th. Finally, Morgan Stanley raised shares of Abivax from an "equal weight" rating to an "overweight" rating and set a $71.00 price target for the company in a research note on Wednesday. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $80.00.
Check Out Our Latest Research Report on Abivax
Abivax Price Performance
Abivax stock traded down $3.27 during midday trading on Wednesday, reaching $66.49. 3,538,569 shares of the stock were exchanged, compared to its average volume of 2,638,802. The company's fifty day moving average is $11.03 and its 200-day moving average is $8.11. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.25 and a current ratio of 1.25. Abivax has a 52 week low of $4.77 and a 52 week high of $72.90.
Institutional Investors Weigh In On Abivax
A number of institutional investors have recently made changes to their positions in the business. Woodline Partners LP boosted its position in Abivax by 319.5% during the 1st quarter. Woodline Partners LP now owns 201,924 shares of the company's stock valued at $1,262,000 after buying an additional 153,788 shares during the period. Octagon Capital Advisors LP bought a new stake in shares of Abivax during the 1st quarter valued at about $7,688,000. Millennium Management LLC boosted its stake in shares of Abivax by 6.0% during the 1st quarter. Millennium Management LLC now owns 987,414 shares of the company's stock valued at $6,171,000 after purchasing an additional 56,235 shares in the last quarter. Allostery Investments LP boosted its stake in Abivax by 86.0% during the first quarter. Allostery Investments LP now owns 1,099,654 shares of the company's stock worth $6,873,000 after acquiring an additional 508,401 shares in the last quarter. Finally, ADAR1 Capital Management LLC boosted its stake in Abivax by 46.0% during the first quarter. ADAR1 Capital Management LLC now owns 2,210,019 shares of the company's stock worth $13,813,000 after acquiring an additional 696,626 shares in the last quarter. Hedge funds and other institutional investors own 47.91% of the company's stock.
Abivax Company Profile
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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.
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