Bank of America Corp DE Purchases 213,440 Shares of Abivax SA Sponsored ADR $ABVX

Key Points

• Bank of America increased its Abivax stake by 40.9% in the first quarter, purchasing 213,440 additional shares for a total of 735,729 shares worth approximately $81.9 million. Institutional investors collectively own 47.91% of the company.
• Abivax reported a quarterly loss of $0.71 per share, beating estimates for a $0.94 loss, while revenue of $1.56 million exceeded the $0.40 million consensus forecast.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and a $156.50 price target versus the stock’s reported $130.93 opening price; targets range from $110 to $180.

Bank of America Corp DE increased its position in shares of Abivax SA Sponsored ADR (NASDAQ:ABVX - Free Report) by 40.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 735,729 shares of the company's stock after acquiring an additional 213,440 shares during the quarter. Bank of America Corp DE owned about 0.92% of Abivax worth $81,923,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GHP Investment Advisors Inc. lifted its holdings in shares of Abivax by 155.6% during the 1st quarter. GHP Investment Advisors Inc. now owns 230 shares of the company's stock valued at $26,000 after purchasing an additional 140 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its position in Abivax by 661.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 396 shares of the company's stock valued at $53,000 after buying an additional 344 shares in the last quarter. WPG Advisers LLC increased its position in Abivax by 125.9% during the 4th quarter. WPG Advisers LLC now owns 454 shares of the company's stock valued at $61,000 after buying an additional 253 shares in the last quarter. T. Rowe Price Investment Management Inc. purchased a new stake in Abivax in the fourth quarter valued at about $61,000. Finally, Cubist Systematic Strategies LLC raised its stake in Abivax by 34.3% in the first quarter. Cubist Systematic Strategies LLC now owns 10,152 shares of the company's stock valued at $63,000 after buying an additional 2,595 shares during the last quarter. Hedge funds and other institutional investors own 47.91% of the company's stock.

Abivax Stock Performance

NASDAQ:ABVX opened at $130.93 on Monday. The stock has a market capitalization of $11.42 billion, a PE ratio of -25.13 and a beta of 1.03. Abivax SA Sponsored ADR has a fifty-two week low of $67.15 and a fifty-two week high of $148.83. The company has a fifty day moving average of $118.46 and a two-hundred day moving average of $118.70.

Abivax (NASDAQ:ABVX - Get Free Report) last announced its earnings results on Friday, May 22nd. The company reported ($0.71) earnings per share (EPS) 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. Research analysts forecast that Abivax SA Sponsored ADR will post -3.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Wedbush boosted their price target on Abivax from $90.00 to $110.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 30th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Abivax in a research report on Friday, July 17th. Jefferies Financial Group upgraded shares of Abivax from a "hold" rating to a "buy" rating and lifted their target price for the stock from $108.00 to $158.00 in a research note on Tuesday, June 30th. Citigroup reissued an "outperform" rating on shares of Abivax in a research report on Tuesday, June 2nd. Finally, Morgan Stanley restated an "overweight" rating and set a $180.00 price target on shares of Abivax in a research note on Friday, July 24th. Thirteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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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