Abivax SA Sponsored ADR (NASDAQ:ABVX) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Abivax has a “Moderate Buy” consensus rating from 16 analysts: 13 recommend buying, one rates it a strong buy, one says hold, and one recommends selling. The average 12-month price target is $156.38.
• Recent analyst actions have generally been positive, including Goldman Sachs initiating coverage with a buy rating and a $155 target, while Wedbush raised its target to $110 but maintained a neutral rating.
• ABVX opened at $105.04, with a $9.18 billion market capitalization, and institutional investors own 47.91% of the stock. Abivax is developing obefazimod, an oral therapy for inflammatory diseases including ulcerative colitis and Crohn’s disease.

Abivax SA Sponsored ADR (NASDAQ:ABVX - Get Free Report) has been given a consensus rating of "Moderate Buy" by the sixteen research firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, thirteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $156.3846.

Several equities research analysts have recently issued reports on the company. HC Wainwright reaffirmed a "buy" rating on shares of Abivax in a research report on Tuesday, June 30th. The Goldman Sachs Group started coverage on Abivax in a research note on Wednesday, September 9th. They set a "buy" rating and a $155.00 target price for the company. Wedbush lifted their price target on Abivax from $90.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 30th. Citigroup reiterated an "outperform" rating on shares of Abivax in a report on Tuesday, June 2nd. Finally, Guggenheim restated a "buy" rating on shares of Abivax in a research note on Tuesday, June 30th.

Abivax Price Performance

Shares of ABVX opened at $105.04 on Monday. The company has a market capitalization of $9.18 billion, a PE ratio of -20.16 and a beta of 0.96. Abivax has a one year low of $69.81 and a one year high of $148.83. The company's fifty day moving average price is $121.41 and its 200 day moving average price is $117.72.

Institutional Trading of Abivax

Hedge funds have recently bought and sold shares of the stock. Engineers Gate Manager LP bought a new position in shares of Abivax during the 2nd quarter worth about $284,000. Readystate Asset Management LP lifted its stake in shares of Abivax by 19.6% in the second quarter. Readystate Asset Management LP now owns 241,530 shares of the company's stock valued at $32,186,000 after buying an additional 39,508 shares during the period. Troluce Capital Advisors LLC acquired a new stake in Abivax during the second quarter worth about $133,000. Seven Fleet Capital Management LP grew its position in Abivax by 158.6% during the second quarter. Seven Fleet Capital Management LP now owns 111,334 shares of the company's stock worth $14,836,000 after buying an additional 68,282 shares in the last quarter. Finally, FNY Investment Advisers LLC increased its stake in Abivax by 7.3% during the second quarter. FNY Investment Advisers LLC now owns 7,605 shares of the company's stock valued at $1,013,000 after acquiring an additional 519 shares during the period. 47.91% of the stock is owned by institutional investors.

About Abivax

Abivax is a clinical-stage biotechnology company headquartered in Paris, France, focused on developing oral therapies for chronic inflammatory and immune-mediated diseases. Its lead investigational product is obefazimod, an oral small-molecule therapy designed to enhance the production of microRNA-124, a regulator of inflammatory pathways.

Obefazimod is being developed primarily for ulcerative colitis, a chronic inflammatory disease of the colon, and has also been evaluated in Crohn's disease.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.