Abivax SA Sponsored ADR $ABVX Shares Bought by Jennison Associates LLC

Key Points

• Jennison Associates LLC increased its Abivax stake by 64.6% in the first quarter, buying 82,627 additional shares and bringing its total holding to 210,534 shares valued at about $23.4 million.
• Several other institutional investors also boosted their positions, and hedge funds and institutions now own 47.91% of Abivax’s stock.
• Abivax shares were down 3.8% to $131.50, while analysts remain mostly bullish: 14 Buy ratings support a consensus Moderate Buy and average price target of $148.54.

Jennison Associates LLC grew its holdings in Abivax SA Sponsored ADR (NASDAQ:ABVX - Free Report) by 64.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 210,534 shares of the company's stock after acquiring an additional 82,627 shares during the quarter. Jennison Associates LLC owned 0.27% of Abivax worth $23,443,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ABVX. Dorsey Wright & Associates raised its position in shares of Abivax by 41.1% in the 1st quarter. Dorsey Wright & Associates now owns 23,452 shares of the company's stock valued at $2,611,000 after purchasing an additional 6,832 shares during the last quarter. Assetmark Inc. grew its position in Abivax by 41.5% during the 1st quarter. Assetmark Inc. now owns 886 shares of the company's stock worth $99,000 after purchasing an additional 260 shares during the last quarter. Brummer Multi Strategy AB grew its position in Abivax by 56.0% during the 1st quarter. Brummer Multi Strategy AB now owns 22,428 shares of the company's stock worth $2,497,000 after purchasing an additional 8,053 shares during the last quarter. Principal Financial Group Inc. increased its stake in Abivax by 43.3% during the 1st quarter. Principal Financial Group Inc. now owns 312,274 shares of the company's stock valued at $34,772,000 after purchasing an additional 94,384 shares in the last quarter. Finally, Diversify Wealth Management LLC raised its holdings in shares of Abivax by 470.3% in the first quarter. Diversify Wealth Management LLC now owns 17,736 shares of the company's stock worth $1,884,000 after buying an additional 14,626 shares during the last quarter. Hedge funds and other institutional investors own 47.91% of the company's stock.

Abivax Trading Down 3.8%

Shares of ABVX stock opened at $131.50 on Tuesday. Abivax SA Sponsored ADR has a twelve month low of $9.95 and a twelve month high of $148.83. The stock has a market cap of $11.46 billion, a P/E ratio of -25.24 and a beta of 0.87. The stock has a 50 day moving average of $117.16 and a 200 day moving average of $118.26.

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

Analyst Upgrades and Downgrades

ABVX has been the topic of several research reports. Citizens Jmp reissued a "market outperform" rating and issued a $187.00 target price on shares of Abivax in a research report on Wednesday, July 1st. BTIG Research lifted their price target on Abivax from $150.00 to $175.00 and gave the stock a "buy" rating in a research report on Tuesday, June 30th. Barclays boosted their price target on Abivax from $142.00 to $148.00 and gave the company an "overweight" rating in a research note on Tuesday, March 24th. Morgan Stanley cut their price objective on Abivax from $145.00 to $132.00 and set an "overweight" rating on the stock in a report on Tuesday, June 2nd. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Abivax in a research note on Friday. Fourteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $148.54.

Abivax Company Profile

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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