Abivax SA Sponsored ADR $ABVX Position Increased by PSquared Asset Management AG

Key Points

• PSquared Asset Management AG massively increased its Abivax stake in the first quarter, boosting holdings by 6,650% to 16,200 shares worth about $1.8 million.
• Abivax’s most recent quarterly results beat expectations, reporting a smaller-than-expected loss of $0.71 per share and revenue of $1.56 million versus the $0.40 million estimate.
• Analyst sentiment remains constructive, with 13 Buy ratings and a consensus Moderate Buy rating; the average price target is $152.50.

PSquared Asset Management AG grew its position in Abivax SA Sponsored ADR (NASDAQ:ABVX - Free Report) by 6,650.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,200 shares of the company's stock after buying an additional 15,960 shares during the quarter. Abivax makes up approximately 0.6% of PSquared Asset Management AG's portfolio, making the stock its 14th largest position. PSquared Asset Management AG's holdings in Abivax were worth $1,804,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in ABVX. GHP Investment Advisors Inc. raised its holdings in shares of Abivax by 155.6% during 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 during the period. Caitong International Asset Management Co. Ltd lifted its position in shares of Abivax by 661.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 396 shares of the company's stock valued at $53,000 after acquiring an additional 344 shares in the last quarter. T. Rowe Price Investment Management Inc. acquired a new position in Abivax in the 4th quarter worth approximately $61,000. WPG Advisers LLC boosted its stake in Abivax by 125.9% in the 4th quarter. WPG Advisers LLC now owns 454 shares of the company's stock worth $61,000 after purchasing an additional 253 shares during the period. Finally, Assetmark Inc. purchased a new position in Abivax during the 4th quarter worth approximately $84,000. 47.91% of the stock is owned by hedge funds and other institutional investors.

Abivax Stock Performance

Shares of ABVX opened at $131.16 on Friday. The company's 50 day moving average price is $117.77 and its 200 day moving average price is $118.20. Abivax SA Sponsored ADR has a 52 week low of $65.67 and a 52 week high of $148.83. The company has a market capitalization of $11.43 billion, a PE ratio of -25.17 and a beta of 0.87.

Abivax (NASDAQ:ABVX - Get Free Report) last released its quarterly earnings data on Friday, May 22nd. The company reported ($0.71) earnings per share for the quarter, beating the consensus estimate of ($0.94) by $0.23. The company had revenue of $1.56 million during the quarter, compared to analyst estimates of $0.40 million. On average, equities analysts forecast that Abivax SA Sponsored ADR will post -3.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ABVX has been the topic of several recent analyst reports. Guggenheim reissued a "buy" rating on shares of Abivax in a research note on Tuesday, June 30th. Oddo Bhf reaffirmed an "outperform" rating on shares of Abivax in a research report on Thursday, April 9th. Wedbush lifted their price target on Abivax from $90.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, June 30th. Morgan Stanley lowered their price target on Abivax from $145.00 to $132.00 and set an "overweight" rating on the stock in a report on Tuesday, June 2nd. Finally, Leerink Partners upped their price target on Abivax from $140.00 to $148.00 and gave the company an "outperform" rating in a research report on Tuesday, June 30th. Thirteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $152.50.

About Abivax

Founded in 2013 and headquartered in Paris, France, Abivax is a clinical-stage biopharmaceutical company focused on discovering and developing novel therapies for chronic inflammatory diseases and viral infections. The company’s technology platform targets host RNA biogenesis to modulate key immune pathways, offering a differentiated approach aimed at disease modification and improved safety profiles.

Abivax’s lead clinical asset, obefazimod (ABX464), is being evaluated in ulcerative colitis and other inflammatory disorders.

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