Abivax (NASDAQ:ABVX) Sees Large Volume Increase - Still a Buy?

Key Points

• Abivax (NASDAQ:ABVX) experienced a significant increase in trading volume, with 949,531 shares traded, a 34% rise from the previous session.
• Analyst ratings for Abivax are predominantly positive, with a consensus rating of "Moderate Buy" and an average price target of $102.14.
• The company is a clinical-stage biotechnology firm focusing on developing treatments for chronic inflammatory diseases, with its lead drug candidate, obefazimod, currently in Phase 3 clinical trials.

Shares of Abivax SA Sponsored ADR (NASDAQ:ABVX - Get Free Report) saw strong trading volume on Monday . 949,531 shares traded hands during trading, an increase of 34% from the previous session's volume of 707,192 shares.The stock last traded at $89.12 and had previously closed at $83.92.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ABVX. Lifesci Capital raised their target price on Abivax from $45.00 to $101.00 and gave the company an "outperform" rating in a report on Wednesday, July 23rd. Piper Sandler boosted their target price on Abivax from $70.00 to $112.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. BTIG Research reiterated a "buy" rating on shares of Abivax in a report on Monday. JMP Securities boosted their price objective on shares of Abivax from $95.00 to $114.00 and gave the stock a "market outperform" rating in a research note on Thursday, September 25th. Finally, Leerink Partners set a $74.00 target price on shares of Abivax and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $102.14.

Abivax Price Performance

The business has a 50 day moving average price of $78.33 and a 200 day moving average price of $33.17.

Abivax (NASDAQ:ABVX - Get Free Report) last issued its earnings results on Monday, September 8th. The company reported ($0.86) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.04. On average, sell-side analysts predict that Abivax SA Sponsored ADR will post -2.83 earnings per share for the current year.

Institutional Investors Weigh In On Abivax

Several institutional investors have recently added to or reduced their stakes in the stock. 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 worth $9,693,000 after buying an additional 37,000 shares during the period. Boothbay Fund Management LLC grew its position in shares of Abivax by 52.5% in the 2nd quarter. Boothbay Fund Management LLC now owns 870,438 shares of the company's stock valued at $6,659,000 after acquiring an additional 299,770 shares during the period. Paloma Partners Management Co raised its stake in Abivax by 147.4% in the second quarter. Paloma Partners Management Co now owns 95,130 shares of the company's stock valued at $728,000 after buying an additional 56,681 shares during the period. HighVista Strategies LLC boosted its position in Abivax by 4.3% during the second quarter. HighVista Strategies LLC now owns 51,156 shares of the company's stock worth $391,000 after purchasing an additional 2,092 shares during the period. Finally, NewEdge Advisors LLC acquired a new stake in shares of Abivax during the 2nd quarter worth about $230,000. 47.91% of the stock is owned by 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.

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