Brokerages Set Abivax SA Sponsored ADR (NASDAQ:ABVX) Target Price at $78.75

Abivax SA Sponsored ADR (NASDAQ:ABVX - Get Free Report) has received an average rating of "Buy" from the nine ratings firms that are currently covering the company, Marketbeat.com reports. Eight analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $80.00.

Several equities research analysts recently issued reports on the company. JMP Securities lifted their price objective on Abivax from $33.00 to $95.00 and gave the stock a "market outperform" rating in a report on Wednesday. Leerink Partners set a $74.00 price target on Abivax and gave the stock an "outperform" rating in a research report on Wednesday. Piper Sandler boosted their price target on Abivax from $42.00 to $70.00 and gave the stock an "overweight" rating in a research report on Wednesday. Lifesci Capital boosted their price target on Abivax from $45.00 to $101.00 and gave the stock an "outperform" rating in a research report on Wednesday. Finally, Guggenheim raised their target price on shares of Abivax from $50.00 to $101.00 and gave the stock a "buy" rating in a research note on Wednesday.

Abivax Stock Performance

Shares of Abivax stock traded down $3.27 on Wednesday, reaching $66.49. The company's stock had a trading volume of 3,538,569 shares, compared to its average volume of 2,638,802. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.29. Abivax has a 52-week low of $4.77 and a 52-week high of $72.90. The stock has a 50-day moving average price of $11.03 and a 200-day moving average price of $8.11.

Hedge Funds Weigh In On Abivax

A number of hedge funds have recently made changes to their positions in the stock. ADAR1 Capital Management LLC boosted its position in shares of Abivax by 46.0% during the 1st 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 period. Nantahala Capital Management LLC boosted its position in shares of Abivax by 3.3% during the 1st quarter. Nantahala Capital Management LLC now owns 1,482,994 shares of the company's stock worth $9,269,000 after purchasing an additional 46,947 shares during the period. Franklin Resources Inc. boosted its position in shares of Abivax by 10.7% during the 4th quarter. Franklin Resources Inc. now owns 1,466,062 shares of the company's stock worth $10,732,000 after purchasing an additional 141,710 shares during the period. Octagon Capital Advisors LP purchased a new position in shares of Abivax during the 1st quarter worth approximately $7,688,000. Finally, Allostery Investments LP boosted its position in shares of Abivax by 86.0% during the 1st 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 period. 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.