Abivax (NASDAQ:ABVX) Raised to Hold at Wall Street Zen

Key Points

• Abivax has been upgraded from a "sell" to a "hold" rating by Wall Street Zen, with several other analysts reaffirming positive outlooks and raising target prices.
• The stock is currently priced at $84.01, with a one-year high of $92.91 and a consensus target price of $99.43.
• Recent institutional investor activity includes significant increases in holdings from firms like ADAR1 Capital Management and Allostery Investments, indicating rising interest in the company's shares.

Abivax (NASDAQ:ABVX - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday.

Several other research analysts also recently commented on ABVX. Morgan Stanley lifted their price objective on Abivax from $71.00 to $101.00 and gave the stock an "overweight" rating in a report on Friday, September 12th. Guggenheim boosted their price target on Abivax from $50.00 to $101.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Citigroup reaffirmed a "market outperform" rating on shares of Abivax in a research report on Friday, July 18th. BTIG Research reaffirmed a "buy" rating and set a $112.00 price objective on shares of Abivax in a research report on Tuesday, September 9th. Finally, Leerink Partners set a $74.00 price target on Abivax and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company's stock. Based on data from MarketBeat, Abivax has an average rating of "Buy" and a consensus price target of $99.43.

Abivax Price Performance

Shares of NASDAQ ABVX traded up $2.31 during trading hours on Friday, reaching $83.31. 805,262 shares of the stock traded hands, compared to its average volume of 1,076,783. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.77 and a current ratio of 0.77. Abivax has a 52-week low of $4.77 and a 52-week high of $92.91. The company's 50-day simple moving average is $65.73 and its two-hundred day simple moving average is $27.04.

Abivax (NASDAQ:ABVX - Get Free Report) last released its quarterly earnings data on Monday, September 8th. The company reported ($0.86) EPS for the quarter, topping the consensus estimate of ($0.90) by $0.04. Equities analysts predict that Abivax will post -2.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. ADAR1 Capital Management LLC lifted its holdings in shares of Abivax by 46.0% in the 1st quarter. ADAR1 Capital Management LLC now owns 2,210,019 shares of the company's stock valued at $13,813,000 after acquiring an additional 696,626 shares during the last quarter. Nantahala Capital Management LLC boosted its position in shares of Abivax by 3.3% during the first quarter. Nantahala Capital Management LLC now owns 1,482,994 shares of the company's stock valued at $9,269,000 after buying an additional 46,947 shares during the period. Octagon Capital Advisors LP boosted its position in shares of Abivax by 3.0% during the second quarter. Octagon Capital Advisors LP now owns 1,267,000 shares of the company's stock valued at $9,693,000 after buying an additional 37,000 shares during the period. Allostery Investments LP boosted its position in shares of Abivax by 86.0% during the first quarter. Allostery Investments LP now owns 1,099,654 shares of the company's stock valued at $6,873,000 after buying an additional 508,401 shares during the period. Finally, Millennium Management LLC boosted its holdings in shares of Abivax by 6.0% in the first 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 during the period. Institutional investors own 47.91% of the company's stock.

Abivax Company Profile

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.