Allostery Investments LP Purchases 508,401 Shares of Abivax SA Sponsored ADR $ABVX

Key Points

• Allostery Investments LP increased its stake in Abivax SA by 86.0%, making it the firm's largest holding, comprising 9.9% of its portfolio valued at approximately $6.87 million.
• Several institutional investors, including ADAR1 Capital Management and Nantahala Capital Management, expanded their positions in Abivax, reflecting growing interest in the company.
• Analysts have set a bullish outlook on Abivax, with price targets reaching as high as $112.00 and a consensus rating of "Buy."

Allostery Investments LP increased its position in Abivax SA Sponsored ADR (NASDAQ:ABVX - Free Report) by 86.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,099,654 shares of the company's stock after purchasing an additional 508,401 shares during the quarter. Abivax makes up about 9.9% of Allostery Investments LP's portfolio, making the stock its biggest position. Allostery Investments LP owned approximately 1.73% of Abivax worth $6,873,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Bank of America Corp DE boosted its position in Abivax by 56.1% during the 4th quarter. Bank of America Corp DE now owns 5,536 shares of the company's stock valued at $41,000 after acquiring an additional 1,990 shares in the last quarter. Cubist Systematic Strategies LLC boosted its position in Abivax by 34.3% during the 1st quarter. Cubist Systematic Strategies LLC now owns 10,152 shares of the company's stock valued at $63,000 after acquiring an additional 2,595 shares in the last quarter. BNP Paribas Financial Markets boosted its position in Abivax by 47.5% during the 4th quarter. BNP Paribas Financial Markets now owns 19,244 shares of the company's stock valued at $141,000 after acquiring an additional 6,200 shares in the last quarter. Ameriprise Financial Inc. bought a new stake in Abivax during the 4th quarter valued at $85,000. Finally, GAMMA Investing LLC boosted its position in Abivax by 373.6% during the 1st quarter. GAMMA Investing LLC now owns 18,831 shares of the company's stock valued at $118,000 after acquiring an additional 14,855 shares in the last quarter. Institutional investors own 47.91% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Lifesci Capital increased their target price on Abivax from $45.00 to $101.00 and gave the company an "outperform" rating in a research report on Wednesday, July 23rd. JMP Securities increased their target price on Abivax from $33.00 to $95.00 and gave the company a "market outperform" rating in a research report on Wednesday, July 23rd. Citigroup reaffirmed a "market outperform" rating on shares of Abivax in a research report on Friday, July 18th. Guggenheim increased their price objective on Abivax from $50.00 to $101.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, Piper Sandler increased their price objective on Abivax from $70.00 to $112.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $92.33.

Abivax Stock Up 2.9%

ABVX stock traded up $2.48 during midday trading on Friday, reaching $88.03. The stock had a trading volume of 3,203,311 shares, compared to its average volume of 959,392. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.25 and a current ratio of 1.25. The firm has a fifty day simple moving average of $51.77 and a two-hundred day simple moving average of $22.31. Abivax SA Sponsored ADR has a 52-week low of $4.77 and a 52-week high of $92.91.

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.