Abivax SA Sponsored ADR $ABVX Shares Sold by Royal Bank of Canada

Key Points

• Royal Bank of Canada cut its Abivax stake by 51% in the first quarter, selling 15,744 shares and retaining 15,123 shares worth approximately $1.68 million.
• Institutional ownership remains significant at 47.91%, with UBS, Morgan Stanley, TCG Crossover Management and others holding or increasing large positions.
• Abivax shares opened at $118.94, while analysts maintain a “Moderate Buy” consensus with an average price target of $156.50. The company also exceeded quarterly EPS and revenue expectations.

Royal Bank of Canada reduced its holdings in shares of Abivax SA Sponsored ADR (NASDAQ:ABVX - Free Report) by 51.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,123 shares of the company's stock after selling 15,744 shares during the period. Royal Bank of Canada's holdings in Abivax were worth $1,684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ABVX. UBS Group AG boosted its holdings in Abivax by 2,561.0% in the third quarter. UBS Group AG now owns 4,461,262 shares of the company's stock worth $378,761,000 after acquiring an additional 4,293,606 shares in the last quarter. Morgan Stanley increased its holdings in shares of Abivax by 114.3% during the fourth quarter. Morgan Stanley now owns 3,151,994 shares of the company's stock valued at $425,062,000 after acquiring an additional 1,681,277 shares in the last quarter. Paradigm Biocapital Advisors LP purchased a new position in shares of Abivax in the 3rd quarter valued at approximately $132,800,000. TCG Crossover Management LLC raised its position in shares of Abivax by 17.4% in the 3rd quarter. TCG Crossover Management LLC now owns 7,111,596 shares of the company's stock valued at $603,774,000 after purchasing an additional 1,055,000 shares during the last quarter. Finally, Westfield Capital Management Co. LP acquired a new stake in Abivax in the 4th quarter worth approximately $136,199,000. 47.91% of the stock is currently owned by hedge funds and other institutional investors.

Abivax Stock Down 1.5%

Shares of NASDAQ ABVX opened at $118.94 on Wednesday. Abivax SA Sponsored ADR has a 52 week low of $67.15 and a 52 week high of $148.83. The business's 50 day moving average price is $121.59 and its 200 day moving average price is $118.85. The firm has a market cap of $10.38 billion, a P/E ratio of -22.83 and a beta of 1.03.

Abivax (NASDAQ:ABVX - Get Free Report) last posted its quarterly earnings results on Friday, May 22nd. The company reported ($0.71) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.94) by $0.23. The business had revenue of $1.56 million for the quarter, compared to analysts' expectations of $0.40 million. As a group, research analysts expect that Abivax SA Sponsored ADR will post -3.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ABVX shares. Leerink Partners upped their price target on shares of Abivax from $140.00 to $148.00 and gave the company an "outperform" rating in a research note on Tuesday, June 30th. Truist Financial raised their price target on shares of Abivax from $135.00 to $155.00 and gave the stock a "buy" rating in a report on Thursday, July 2nd. Wedbush boosted their price objective on shares of Abivax from $90.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, June 30th. Weiss Ratings reissued a "sell (d-)" rating on shares of Abivax in a research report on Friday, July 17th. Finally, Wall Street Zen upgraded Abivax from a "sell" rating to a "hold" rating in a research note on Saturday, May 23rd. Thirteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $156.50.

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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