Abivax (NASDAQ:ABVX) Sees Strong Trading Volume - What's Next?

Key Points

• Abivax shares experienced a trading volume decline of 27%, with 513,755 shares traded, and the stock currently sits at $84.90 after previously closing at $83.33.
• Wall Street analysts have raised their price targets for Abivax, with Morgan Stanley and Lifesci Capital setting a new target of $101.00, while BTIG Research has issued a target price of $112.00.
• Abivax's consensus rating is "Buy" with a price target of $102.14, and the company is actively involved in clinical trials for its lead drug candidate addressing chronic inflammatory diseases.

Abivax SA Sponsored ADR (NASDAQ:ABVX - Get Free Report) shares saw an uptick in trading volume on Tuesday . 513,755 shares were traded during trading, a decline of 27% from the previous session's volume of 700,819 shares.The stock last traded at $84.90 and had previously closed at $83.33.

Wall Street Analysts Forecast Growth

Several research firms have commented on ABVX. Morgan Stanley lifted their price target on Abivax from $71.00 to $101.00 and gave the stock an "overweight" rating in a research report on Friday, September 12th. Lifesci Capital lifted their price target on Abivax from $45.00 to $101.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. BTIG Research reiterated a "buy" rating and issued a $112.00 target price on shares of Abivax in a research note on Tuesday, September 9th. Citigroup restated an "outperform" rating on shares of Abivax in a research note on Thursday, September 25th. Finally, Leerink Partners set a $74.00 price target on Abivax and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $102.14.

Abivax Trading Down 0.2%

The company has a debt-to-equity ratio of 1.29, a current ratio of 0.77 and a quick ratio of 0.77. The company has a 50-day moving average price of $75.95 and a 200-day moving average price of $31.02.

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

Institutional Investors Weigh In On Abivax

Several institutional investors and hedge funds have recently added to or reduced their stakes in ABVX. Octagon Capital Advisors LP acquired a new stake in Abivax during the first quarter worth about $7,688,000. ADAR1 Capital Management LLC grew its stake in shares of Abivax by 46.0% in the first quarter. ADAR1 Capital Management LLC now owns 2,210,019 shares of the company's stock valued at $13,813,000 after buying an additional 696,626 shares in the last quarter. Allostery Investments LP grew its stake in shares of Abivax by 86.0% in 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 in the last quarter. Boothbay Fund Management LLC grew its stake in shares of Abivax by 52.5% in the second quarter. Boothbay Fund Management LLC now owns 870,438 shares of the company's stock valued at $6,659,000 after buying an additional 299,770 shares in the last quarter. Finally, Aberdeen Group plc grew its stake in shares of Abivax by 67.5% in the first quarter. Aberdeen Group plc now owns 710,516 shares of the company's stock valued at $4,441,000 after buying an additional 286,335 shares in the last quarter. 47.91% of the stock is currently owned by institutional investors and hedge funds.

About Abivax

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.