Abivax (NASDAQ:ABVX) Shares Gap Down - What's Next?

Key Points

• Abivax (NASDAQ:ABVX) shares experienced a gap down at trading open on Friday, starting at $83.00 after closing at $85.96.
• Analysts have increased price targets significantly for Abivax, with Piper Sandler setting a new target at $112.00, reflecting confidence in the company's potential.
• Despite a recent trading dip of 3.7%, more than 47% of Abivax's stock is held by institutional investors, indicating substantial market interest.

Abivax SA Sponsored ADR (NASDAQ:ABVX - Get Free Report) shares gapped down prior to trading on Friday . The stock had previously closed at $85.96, but opened at $83.00. Abivax shares last traded at $84.06, with a volume of 292,216 shares trading hands.

Analysts Set New Price Targets

ABVX has been the topic of a number of recent analyst reports. Piper Sandler raised their target price on shares of Abivax from $70.00 to $112.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Lifesci Capital raised their target price on shares of Abivax from $45.00 to $101.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. JMP Securities raised their target price 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. Morgan Stanley raised shares of Abivax from an "equal weight" rating to an "overweight" rating and set a $71.00 target price on the stock in a research note on Wednesday, July 23rd. Finally, BTIG Research reaffirmed a "buy" rating and issued a $112.00 target price on shares of Abivax in a research note on Tuesday. One investment 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, Abivax currently has an average rating of "Buy" and a consensus price target of $95.14.

Abivax Trading Down 3.7%

The firm's 50 day simple moving average is $58.20 and its 200 day simple moving average is $24.43. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.25 and a current ratio of 0.77.

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Octagon Capital Advisors LP bought a new position in shares of Abivax in the first quarter worth approximately $7,688,000. ADAR1 Capital Management LLC grew its holdings 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 worth $13,813,000 after purchasing an additional 696,626 shares during the last quarter. Allostery Investments LP grew its holdings 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 worth $6,873,000 after purchasing an additional 508,401 shares during the last quarter. Citadel Advisors LLC grew its holdings in shares of Abivax by 83.5% in the fourth quarter. Citadel Advisors LLC now owns 855,676 shares of the company's stock worth $6,264,000 after purchasing an additional 389,247 shares during the last quarter. Finally, Boothbay Fund Management LLC grew its holdings 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 worth $6,659,000 after purchasing an additional 299,770 shares during the last quarter. 47.91% of the stock is owned by hedge funds and other institutional investors.

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.

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