Abivax (NASDAQ:ABVX) Sets New 52-Week High - Time to Buy?

Key Points

• Abivax's share price reached a new 52-week high of $81.36 and closed at $79.43, indicating strong trading activity with over 1.25 million shares exchanged.
• Analysts have significantly raised their price targets for Abivax, with recommendations ranging from $71.00 to $112.00, leading to a consensus rating of "Buy" and a target price of $92.33.
• Institutional investors have shown increasing interest in Abivax, with notable stakes from firms like Octagon Capital Advisors and Citadel Advisors, who increased their shareholdings by 83.5%.

Abivax SA Sponsored ADR (NASDAQ:ABVX - Get Free Report)'s share price reached a new 52-week high on Thursday . The company traded as high as $81.36 and last traded at $79.43, with a volume of 1250262 shares changing hands. The stock had previously closed at $79.70.

Analyst Upgrades and Downgrades

ABVX has been the topic of a number of recent research reports. Guggenheim raised their price objective on shares of Abivax from $50.00 to $101.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. JMP Securities raised their price objective on shares of Abivax from $33.00 to $95.00 and gave the company a "market outperform" rating in a research note on Wednesday, July 23rd. Piper Sandler increased their target price on shares of Abivax from $70.00 to $112.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Morgan Stanley upgraded shares of Abivax from an "equal weight" rating to an "overweight" rating and set a $71.00 target price for the company in a report on Wednesday, July 23rd. Finally, Leerink Partners set a $74.00 target price on shares of Abivax and gave the company an "outperform" rating in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $92.33.

Abivax Price Performance

The company's fifty day moving average price is $41.04 and its 200 day moving average price is $18.53. 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 Trading of Abivax

A number of large investors have recently added to or reduced their stakes in ABVX. Octagon Capital Advisors LP purchased a new stake in Abivax during the first quarter worth about $7,688,000. Caligan Partners LP purchased a new stake in Abivax during the fourth quarter worth about $5,506,000. ADAR1 Capital Management LLC increased its holdings in Abivax by 46.0% during the first quarter. ADAR1 Capital Management LLC now owns 2,210,019 shares of the company's stock worth $13,813,000 after buying an additional 696,626 shares during the last quarter. Allostery Investments LP purchased a new stake in Abivax during the fourth quarter worth about $4,328,000. Finally, Citadel Advisors LLC increased its holdings in Abivax by 83.5% during the fourth quarter. Citadel Advisors LLC now owns 855,676 shares of the company's stock worth $6,264,000 after buying an additional 389,247 shares during the last quarter. Hedge funds and other institutional investors own 47.91% of the company's stock.

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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