Brummer Multi Strategy AB Boosts Position in Abivax SA Sponsored ADR $ABVX

Key Points

• Brummer Multi Strategy AB increased its stake in Abivax by 56.0% in the first quarter, bringing its holdings to 22,428 shares worth about $2.5 million. Abivax is now its fourth-largest position and makes up 10.4% of the portfolio.
• Analysts remain broadly positive on ABVX: BTIG raised its price target to $175, Citizens JMP set a $187 target, and MarketBeat shows a consensus rating of Moderate Buy with an average target of $148.54.
• Abivax recently reported earnings of ($0.71) per share, beating expectations, and revenue of $1.56 million, well above forecasts. The stock has also traded near its 52-week high, opening at $137.77 versus a high of $148.83.

Brummer Multi Strategy AB grew its stake in shares of Abivax SA Sponsored ADR (NASDAQ:ABVX - Free Report) by 56.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,428 shares of the company's stock after buying an additional 8,053 shares during the period. Abivax accounts for 10.4% of Brummer Multi Strategy AB's portfolio, making the stock its 4th biggest holding. Brummer Multi Strategy AB's holdings in Abivax were worth $2,497,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Nan Fung Trinity HK Ltd. lifted its holdings in Abivax by 11.8% during the fourth quarter. Nan Fung Trinity HK Ltd. now owns 113,365 shares of the company's stock valued at $15,288,000 after purchasing an additional 12,000 shares in the last quarter. Total Clarity Wealth Management Inc. bought a new position in shares of Abivax in the fourth quarter worth approximately $1,247,000. Hudson Bay Capital Management LP purchased a new stake in shares of Abivax in the third quarter worth $7,731,000. Tudor Investment Corp ET AL purchased a new stake in shares of Abivax in the third quarter worth $2,792,000. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of Abivax during the 4th quarter valued at $1,193,000. 47.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on ABVX. BTIG Research upped their target price on shares of Abivax from $150.00 to $175.00 and gave the stock a "buy" rating in a report on Tuesday, June 30th. Weiss Ratings reissued a "sell (d-)" rating on shares of Abivax in a report on Monday, April 20th. Guggenheim restated a "buy" rating on shares of Abivax in a research report on Tuesday, June 30th. Citizens Jmp reaffirmed a "market outperform" rating and issued a $187.00 price objective on shares of Abivax in a research note on Wednesday, July 1st. Finally, Wall Street Zen upgraded Abivax from a "sell" rating to a "hold" rating in a research report on Saturday, May 23rd. Fourteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $148.54.

Abivax Stock Performance

Shares of ABVX opened at $137.77 on Friday. The stock has a market capitalization of $10.99 billion, a PE ratio of -26.44 and a beta of 0.87. The company's fifty day moving average is $116.69 and its 200 day moving average is $118.34. Abivax SA Sponsored ADR has a fifty-two week low of $9.78 and a fifty-two week high of $148.83.

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

About Abivax

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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