Abivax SA Sponsored ADR (NASDAQ:ABVX) Given Consensus Rating of "Buy" by Analysts

Key Points

• Abivax SA Sponsored ADR (NASDAQ:ABVX) has received an average rating of "Buy" from eight brokerages, with seven analysts giving a buy recommendation and one providing a strong buy.
• The average 1-year price objective for Abivax among brokerages is $92.33, with some analysts raising their target prices significantly, such as JMP Securities increasing it to $95.00.
• Institutional investors now own 47.91% of Abivax's stock, with notable increases in holdings by firms like ADAR1 Capital Management, which boosted its position by 46.0% during the first quarter.

Shares of Abivax SA Sponsored ADR (NASDAQ:ABVX - Get Free Report) have earned a consensus recommendation of "Buy" from the eight analysts that are covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $92.3333.

Several research analysts have recently issued reports on the stock. Lifesci Capital upped their target price on shares of Abivax from $45.00 to $101.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 23rd. Guggenheim upped 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, July 23rd. Citigroup reiterated a "market outperform" rating on shares of Abivax in a research note on Friday, July 18th. Morgan Stanley upgraded 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, Piper Sandler upped their target price on shares of Abivax from $70.00 to $112.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE raised its holdings in shares of Abivax by 56.1% during the fourth quarter. Bank of America Corp DE now owns 5,536 shares of the company's stock valued at $41,000 after purchasing an additional 1,990 shares during the last quarter. HighVista Strategies LLC raised its holdings in shares of Abivax by 4.3% during the second quarter. HighVista Strategies LLC now owns 51,156 shares of the company's stock valued at $391,000 after purchasing an additional 2,092 shares during the last quarter. Cubist Systematic Strategies LLC raised its holdings in shares of Abivax by 34.3% during the first quarter. Cubist Systematic Strategies LLC now owns 10,152 shares of the company's stock valued at $63,000 after purchasing an additional 2,595 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in Abivax by 47.5% during the fourth quarter. BNP Paribas Financial Markets now owns 19,244 shares of the company's stock valued at $141,000 after buying an additional 6,200 shares during the last quarter. Finally, Ameriprise Financial Inc. purchased a new stake in Abivax during the fourth quarter valued at approximately $85,000. 47.91% of the stock is owned by hedge funds and other institutional investors.

Abivax Stock Performance

Shares of NASDAQ ABVX traded up $2.54 during midday trading on Friday, hitting $74.43. The stock had a trading volume of 1,553,936 shares, compared to its average volume of 1,662,222. The business's 50 day moving average is $35.28 and its 200-day moving average is $16.53. Abivax has a 52 week low of $4.77 and a 52 week high of $75.51. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.29.

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.