Abivax SA Sponsored ADR $ABVX Shares Bought by CenterBook Partners LP

Key Points

• CenterBook Partners increased its Abivax position by 321.4% in the third quarter, to 142,496 shares valued at about $14.1 million. Institutional investors overall own 47.91% of the stock.
• Abivax reported a quarterly loss of $1.71 per share, wider than analysts’ expected loss of $0.92; revenue of $1.37 million exceeded estimates of $0.80 million.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $155. Abivax shares traded at $85.73 in Friday’s session, up 1.8% that day.

CenterBook Partners LP grew its position in shares of Abivax SA Sponsored ADR (NASDAQ:ABVX - Free Report) by 321.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 142,496 shares of the company's stock after buying an additional 108,685 shares during the period. Abivax comprises 0.6% of CenterBook Partners LP's portfolio, making the stock its 28th largest position. CenterBook Partners LP owned 0.16% of Abivax worth $14,110,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in ABVX. Versant Capital Management Inc bought a new stake in Abivax during the second quarter valued at $30,000. Assetmark Inc. lifted its position in shares of Abivax by 41.5% in the 1st quarter. Assetmark Inc. now owns 886 shares of the company's stock worth $99,000 after buying an additional 260 shares during the last quarter. Troluce Capital Advisors LLC bought a new position in shares of Abivax in the 2nd quarter worth about $133,000. Goldstein Advisors LLC boosted its holdings in shares of Abivax by 49.6% in the 3rd quarter. Goldstein Advisors LLC now owns 2,390 shares of the company's stock valued at $237,000 after buying an additional 792 shares during the period. Finally, Prime Capital Investment Advisors LLC acquired a new position in shares of Abivax in the 3rd quarter valued at about $268,000. 47.91% of the stock is currently owned by institutional investors.

Abivax Trading Up 1.8%

Abivax stock traded up $1.55 during mid-day trading on Friday, hitting $85.73. 827,191 shares of the company's stock were exchanged, compared to its average volume of 1,072,878. The stock has a market cap of $7.51 billion, a P/E ratio of -14.15 and a beta of 1.36. The stock has a 50 day moving average of $97.20 and a two-hundred day moving average of $113.33. Abivax SA Sponsored ADR has a 1-year low of $69.81 and a 1-year high of $148.83.

Abivax (NASDAQ:ABVX - Get Free Report) last issued its quarterly earnings results on Monday, September 21st. The company reported ($1.71) earnings per share for the quarter, missing analysts' consensus estimates of ($0.92) by ($0.79). The business had revenue of $1.37 million for the quarter, compared to analysts' expectations of $0.80 million. As a group, research analysts predict that Abivax SA Sponsored ADR will post -4.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ABVX has been the subject of a number of research reports. The Goldman Sachs Group began coverage on Abivax in a research note on Wednesday, September 9th. They issued a "buy" rating and a $155.00 target price for the company. Piper Sandler reiterated an "overweight" rating on shares of Abivax in a research report on Wednesday, October 21st. Truist Financial cut their price target on Abivax from $155.00 to $151.00 and set a "buy" rating on the stock in a report on Tuesday, September 22nd. Barclays restated an "overweight" rating and set a $148.00 price objective on shares of Abivax in a research report on Tuesday, September 22nd. Finally, Wedbush lowered their price objective on Abivax from $118.00 to $96.00 and set a "neutral" rating for the company in a research note on Wednesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $155.00.

Abivax Profile

Abivax SA NASDAQ: ABVX is a clinical-stage biotechnology company focused on developing therapeutics for chronic inflammatory and immune-mediated diseases. Headquartered in Paris, France, the company conducts research and clinical development aimed at addressing conditions with significant unmet medical needs.

Abivax's lead investigational product is obefazimod, an oral small-molecule therapy designed to selectively increase levels of microRNA-124, a regulatory molecule involved in controlling inflammatory responses.

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