Aberdeen Group plc Increases Stock Position in Abivax SA Sponsored ADR $ABVX

Key Points

• Aberdeen Group plc increased its holdings in Abivax SA by 67.5% in Q1, owning approximately 1.12% of the company's stock valued at $4,441,000.
• Several hedge funds have also significantly raised their stakes in Abivax, with a collective 47.91% of the stock owned by institutional investors.
• Analysts have raised their price targets for Abivax shares, with targets now ranging from $74.00 to $112.00, reflecting an overall positive sentiment towards the stock.

Aberdeen Group plc grew its stake in Abivax SA Sponsored ADR (NASDAQ:ABVX - Free Report) by 67.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 710,516 shares of the company's stock after purchasing an additional 286,335 shares during the quarter. Aberdeen Group plc owned about 1.12% of Abivax worth $4,441,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Bank of America Corp DE raised its holdings in Abivax by 56.1% in the 4th quarter. Bank of America Corp DE now owns 5,536 shares of the company's stock worth $41,000 after purchasing an additional 1,990 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of Abivax by 47.5% in the 4th quarter. BNP Paribas Financial Markets now owns 19,244 shares of the company's stock worth $141,000 after buying an additional 6,200 shares during the period. Ameriprise Financial Inc. purchased a new stake in shares of Abivax in the 4th quarter worth about $85,000. Guggenheim Capital LLC purchased a new stake in shares of Abivax in the 4th quarter worth about $92,000. Finally, GAMMA Investing LLC grew its position in shares of Abivax by 373.6% in the 1st quarter. GAMMA Investing LLC now owns 18,831 shares of the company's stock worth $118,000 after buying an additional 14,855 shares during the period. 47.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ABVX shares. 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 report on Wednesday, July 23rd. Leerink Partners set a $74.00 target price on shares of Abivax and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. JMP Securities upped their target price on shares of Abivax from $33.00 to $95.00 and gave the stock a "market outperform" rating in a research report 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 report on Wednesday, July 23rd. Finally, Citigroup reaffirmed a "market outperform" rating on shares of Abivax in a research report on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. According to MarketBeat.com, Abivax has an average rating of "Buy" and an average target price of $92.33.

Abivax Price Performance

ABVX stock traded up $2.24 during trading on Tuesday, hitting $79.70. 1,721,366 shares of the stock traded hands, compared to its average volume of 1,163,546. Abivax SA Sponsored ADR has a 1 year low of $4.77 and a 1 year high of $80.00. The firm's 50 day moving average is $39.57 and its two-hundred day moving average is $18.10. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.25 and a current ratio of 1.25.

Abivax 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.