Wall Street Zen Upgrades Abivax (NASDAQ:ABVX) to "Hold"

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 equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Saturday.

Other research analysts have also recently issued research reports about the company. Piper Sandler upped their price target on Abivax from $70.00 to $112.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Lifesci Capital lifted their price target on Abivax from $45.00 to $101.00 and gave the company an "outperform" rating in a research report on Wednesday, July 23rd. Leerink Partners set a $74.00 price target on Abivax and gave the company an "outperform" rating in a research report on Wednesday, July 23rd. Morgan Stanley lifted their price target on Abivax from $71.00 to $101.00 and gave the company an "overweight" rating in a research report on Friday. Finally, BTIG Research reiterated a "buy" rating and issued a $112.00 price target on shares of Abivax in a research report on Tuesday, September 9th. One analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $99.43.

Abivax Stock Performance

Shares of Abivax stock traded up $1.86 during trading hours on Friday, hitting $85.87. 858,681 shares of the company's stock traded hands, compared to its average volume of 1,152,597. Abivax has a 12-month low of $4.77 and a 12-month high of $92.91. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.29. The company has a fifty day simple moving average of $61.28 and a 200-day simple moving average of $25.75.

Abivax (NASDAQ:ABVX - Get Free Report) last issued its quarterly earnings results on Monday, September 8th. The company reported ($0.86) EPS for the quarter, beating analysts' consensus estimates of ($0.90) by $0.04. As a group, analysts anticipate that Abivax will post -2.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Abivax

A number of large investors have recently modified their holdings of the company. Ameriprise Financial Inc. purchased a new position in Abivax in the 4th quarter worth $85,000. BNP Paribas Financial Markets raised its position in Abivax by 47.5% in the 4th quarter. BNP Paribas Financial Markets now owns 19,244 shares of the company's stock worth $141,000 after purchasing an additional 6,200 shares during the period. Bank of America Corp DE raised its position in Abivax by 56.1% in the 4th quarter. Bank of America Corp DE now owns 5,536 shares of the company's stock worth $41,000 after purchasing an additional 1,990 shares during the period. Citadel Advisors LLC raised its position in Abivax by 83.5% in the 4th quarter. Citadel Advisors LLC now owns 855,676 shares of the company's stock worth $6,264,000 after purchasing an additional 389,247 shares during the period. Finally, Millennium Management LLC raised its position in Abivax by 44.2% in the 4th quarter. Millennium Management LLC now owns 931,179 shares of the company's stock worth $6,816,000 after purchasing an additional 285,542 shares during the period. 47.91% of the stock is owned by hedge funds and other institutional investors.

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.