Shares of Abivax SA Sponsored ADR (NASDAQ:ABVX - Get Free Report) saw strong trading volume on Monday . 230,917 shares were traded during mid-day trading, an increase of 19% from the previous session's volume of 193,858 shares.The stock last traded at $10.33 and had previously closed at $9.95.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the stock. Citigroup reaffirmed a "market outperform" rating on shares of Abivax in a research report on Friday, July 18th. Piper Sandler raised their target price on shares of Abivax from $42.00 to $70.00 and gave the company an "overweight" rating in a research report on Wednesday. Leerink Partners set a $74.00 price target on shares of Abivax and gave the company an "outperform" rating in a research note on Wednesday. Guggenheim increased their price target on shares of Abivax from $50.00 to $101.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Morgan Stanley upgraded 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 investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $80.00.
Read Our Latest Research Report on Abivax
Abivax Stock Up 1.7%
The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.29. The firm's 50 day simple moving average is $8.55 and its two-hundred day simple moving average is $7.26.
Institutional Trading of Abivax
Several hedge funds and other institutional investors have recently bought and sold shares of ABVX. Octagon Capital Advisors LP bought a new position in Abivax in the 1st quarter valued at about $7,688,000. ADAR1 Capital Management LLC increased its holdings in Abivax by 190.1% in the 4th quarter. ADAR1 Capital Management LLC now owns 1,513,393 shares of the company's stock valued at $11,078,000 after buying an additional 991,781 shares during the period. Caligan Partners LP bought a new position in Abivax in the 4th quarter valued at about $5,506,000. JPMorgan Chase & Co. bought a new position in Abivax in the 4th quarter valued at about $5,336,000. Finally, Allostery Investments LP bought a new position in Abivax in the 4th quarter valued at about $4,328,000. Institutional investors and hedge funds own 47.91% of the company's stock.
Abivax Company Profile
(
Get Free Report)
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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