676,589 Shares in Abivax SA Sponsored ADR $ABVX Acquired by Two Seas Capital LP

Key Points

• Two Seas Capital LP acquired 676,589 Abivax shares worth approximately $67 million, giving it a 0.77% stake; institutional investors collectively own 47.91% of the company.
• Abivax shares fell 3.8% to $88.22, while the company reported a quarterly loss of $1.71 per share, missing analyst expectations of a $0.92 loss.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $156.69, despite some recent target-price reductions.

Two Seas Capital LP acquired a new position in Abivax SA Sponsored ADR (NASDAQ:ABVX - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 676,589 shares of the company's stock, valued at approximately $66,996,000. Abivax accounts for 0.8% of Two Seas Capital LP's holdings, making the stock its 14th biggest position. Two Seas Capital LP owned approximately 0.77% of Abivax at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ABVX. Versant Capital Management Inc bought a new position in shares of Abivax during the second quarter valued at approximately $30,000. GHP Investment Advisors Inc. boosted its holdings in Abivax by 155.6% in the first quarter. GHP Investment Advisors Inc. now owns 230 shares of the company's stock valued at $26,000 after acquiring an additional 140 shares in the last quarter. Assetmark Inc. increased its position in Abivax by 41.5% during the 1st quarter. Assetmark Inc. now owns 886 shares of the company's stock valued at $99,000 after purchasing an additional 260 shares during the period. Troluce Capital Advisors LLC purchased a new position in Abivax during the 2nd quarter valued at $133,000. Finally, Corps Capital Advisors LLC bought a new position in Abivax in the 4th quarter worth $221,000. 47.91% of the stock is currently owned by institutional investors.

Abivax Trading Down 3.8%

ABVX traded down $3.51 during midday trading on Tuesday, reaching $88.22. The company's stock had a trading volume of 2,000,515 shares, compared to its average volume of 1,434,733. Abivax SA Sponsored ADR has a 1 year low of $69.81 and a 1 year high of $148.83. The stock's 50-day moving average is $113.28 and its 200-day moving average is $116.22. The firm has a market capitalization of $7.71 billion, a price-to-earnings ratio of -14.56 and a beta of 1.14.

Abivax (NASDAQ:ABVX - Get Free Report) last released its earnings results on Monday, September 21st. The company reported ($1.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.92) by ($0.79). The firm had revenue of $1.37 million for the quarter, compared to analysts' expectations of $0.80 million. As a group, equities research analysts forecast that Abivax SA Sponsored ADR will post -4.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ABVX. Barclays reaffirmed an "overweight" rating and set a $148.00 target price on shares of Abivax in a research note on Tuesday, September 22nd. Wedbush lowered their price objective on shares of Abivax from $140.00 to $118.00 and set a "neutral" rating for the company in a report on Tuesday, September 22nd. Citizens Jmp reiterated a "market outperform" rating and set a $187.00 target price on shares of Abivax in a report on Wednesday, July 1st. Guggenheim reissued a "buy" rating on shares of Abivax in a research report on Tuesday, June 30th. Finally, Truist Financial lowered their target price on Abivax from $155.00 to $151.00 and set a "buy" rating for the company in a research note on Tuesday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $156.69.

About Abivax

Abivax is a clinical-stage biotechnology company focused on developing therapeutics for chronic inflammatory and immune-mediated diseases. The company's lead investigational product is obefazimod, an oral small-molecule treatment being developed for ulcerative colitis, a chronic inflammatory disease of the colon.

Obefazimod, formerly known as ABX464, is designed to increase levels of microRNA-124, a molecule involved in regulating inflammatory responses. Abivax is evaluating the therapy in late-stage clinical studies for ulcerative colitis and has also investigated its potential in other inflammatory conditions, including Crohn's disease.

Founded in 2013 and headquartered in Paris, France, Abivax conducts its development activities through international clinical programs and serves the global biopharmaceutical market.

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