Abivax (NASDAQ:ABVX) Rating Increased to Overweight at Morgan Stanley

Abivax (NASDAQ:ABVX - Get Free Report) was upgraded by Morgan Stanley from an "equal weight" rating to an "overweight" rating in a report released on Wednesday,Finviz reports. The firm currently has a $71.00 price target on the stock.

Other research analysts have also issued reports about the stock. Citigroup reiterated a "market outperform" rating on shares of Abivax in a research note on Friday. JMP Securities boosted their price objective on Abivax from $33.00 to $95.00 and gave the stock a "market outperform" rating in a research note on Wednesday. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $78.75.

Abivax Stock Down 1.4%

NASDAQ ABVX opened at $10.00 on Wednesday. The firm's fifty day simple moving average is $7.14 and its 200-day simple moving average is $6.80. Abivax has a 1-year low of $4.77 and a 1-year high of $62.22. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.29.

Institutional Investors Weigh In On Abivax

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its position in Abivax by 56.1% during the fourth quarter. Bank of America Corp DE now owns 5,536 shares of the company's stock worth $41,000 after buying an additional 1,990 shares during the last quarter. Cubist Systematic Strategies LLC grew its stake in shares of Abivax by 34.3% in the first 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 shares of Abivax in the fourth quarter valued at about $85,000. Guggenheim Capital LLC acquired a new position in shares of Abivax during the 4th quarter worth approximately $92,000. Finally, Stonepine Capital Management LLC acquired a new stake in Abivax during the fourth quarter worth approximately $110,000. 47.91% of the stock is currently owned by institutional investors and hedge funds.

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.

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