Abivax SA Sponsored ADR $ABVX Stock Position Increased by ADAR1 Capital Management LLC

Key Points

• ADAR1 Capital Management LLC increased its stake in Abivax by 46.0%, owning approximately 2.6% of the company's portfolio after acquiring an additional 696,626 shares.
• Several other institutional investors, including Citadel Advisors LLC and Aberdeen Group plc, have significantly raised their holdings in Abivax, signaling increased investor interest.
• Brokerages have raised their price targets for Abivax, with a consensus target price of $92.33 and a majority rating of "Buy" from analysts.

ADAR1 Capital Management LLC raised its position in Abivax SA Sponsored ADR (NASDAQ:ABVX - Free Report) by 46.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,210,019 shares of the company's stock after purchasing an additional 696,626 shares during the period. Abivax accounts for 2.6% of ADAR1 Capital Management LLC's investment portfolio, making the stock its 9th biggest position. ADAR1 Capital Management LLC owned about 3.48% of Abivax worth $13,813,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bank of America Corp DE lifted its position in Abivax by 56.1% during the fourth quarter. Bank of America Corp DE now owns 5,536 shares of the company's stock valued at $41,000 after purchasing an additional 1,990 shares during the last quarter. Cubist Systematic Strategies LLC raised its position in Abivax by 34.3% in the 1st quarter. Cubist Systematic Strategies LLC now owns 10,152 shares of the company's stock worth $63,000 after purchasing an additional 2,595 shares during the period. BNP Paribas Financial Markets raised 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 purchasing an additional 6,200 shares during the last quarter. Ameriprise Financial Inc. bought a new stake in shares of Abivax in the 4th quarter worth approximately $85,000. Finally, GAMMA Investing LLC increased 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 purchasing an additional 14,855 shares during the period. Institutional investors own 47.91% of the company's stock.

Abivax Stock Performance

Shares of ABVX stock traded up $2.48 during trading hours on Friday, reaching $88.03. 3,203,311 shares of the company traded hands, compared to its average volume of 959,392. The firm has a 50-day moving average price of $51.77 and a 200 day moving average price of $22.31. Abivax SA Sponsored ADR has a 12-month low of $4.77 and a 12-month high of $92.91. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.29.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Leerink Partners set a $74.00 price target on shares of Abivax and gave the company an "outperform" rating in a research report on Wednesday, July 23rd. JMP Securities lifted their price target on Abivax from $33.00 to $95.00 and gave the stock a "market outperform" rating in a research report on Wednesday, July 23rd. Lifesci Capital increased their target price on Abivax from $45.00 to $101.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. Citigroup reissued a "market outperform" rating on shares of Abivax in a report on Friday, July 18th. Finally, Morgan Stanley raised shares of Abivax from an "equal weight" rating to an "overweight" rating and set a $71.00 price objective on the stock in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $92.33.

Abivax Company 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.