Diversify Wealth Management LLC Purchases 14,626 Shares of Abivax SA Sponsored ADR $ABVX

Key Points

• Diversify Wealth Management LLC boosted its Abivax stake by 470.3% in the first quarter, buying 14,626 additional shares and bringing its total position to 17,736 shares worth about $1.88 million.
• Abivax shares were down 0.8% in Wednesday trading, though the stock has ranged from a 1-year low of $8.85 to a 1-year high of $148.83 and currently carries a market cap of about $10.76 billion.
• The company posted a narrower-than-expected quarterly loss, with EPS of -$0.71 versus estimates of -$0.94, while revenue of $1.56 million also beat forecasts; analysts remain broadly bullish with a consensus rating of Moderate Buy and an average target price of $148.54.

Diversify Wealth Management LLC increased its position in shares of Abivax SA Sponsored ADR (NASDAQ:ABVX - Free Report) by 470.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,736 shares of the company's stock after acquiring an additional 14,626 shares during the quarter. Diversify Wealth Management LLC's holdings in Abivax were worth $1,884,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ABVX. GHP Investment Advisors Inc. raised its holdings in Abivax by 155.6% during the 1st quarter. GHP Investment Advisors Inc. now owns 230 shares of the company's stock worth $26,000 after purchasing an additional 140 shares during the last quarter. Bank of America Corp DE lifted its position in Abivax by 56.1% during the 4th quarter. Bank of America Corp DE now owns 5,536 shares of the company's stock valued at $41,000 after purchasing an additional 1,990 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in shares of Abivax by 661.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 396 shares of the company's stock valued at $53,000 after purchasing an additional 344 shares during the last quarter. WPG Advisers LLC boosted its stake in shares of Abivax by 125.9% in the 4th quarter. WPG Advisers LLC now owns 454 shares of the company's stock valued at $61,000 after purchasing an additional 253 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. acquired a new stake in shares of Abivax during the 4th quarter worth approximately $61,000. Institutional investors own 47.91% of the company's stock.

Abivax Trading Down 0.8%

Shares of ABVX opened at $134.91 on Wednesday. The stock has a market cap of $10.76 billion, a P/E ratio of -25.89 and a beta of 0.87. The stock's 50-day moving average price is $116.22 and its two-hundred day moving average price is $118.45. Abivax SA Sponsored ADR has a 1 year low of $8.85 and a 1 year high of $148.83.

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Barclays boosted their price target on shares of Abivax from $142.00 to $148.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 24th. HC Wainwright reaffirmed a "buy" rating on shares of Abivax in a research note on Tuesday, June 30th. Wolfe Research set a $136.00 target price on shares of Abivax in a report on Wednesday, June 3rd. BTIG Research upped their target price on shares of Abivax from $150.00 to $175.00 and gave the company a "buy" rating in a research report on Tuesday, June 30th. Finally, Citigroup reiterated an "outperform" rating on shares of Abivax in a research report on Tuesday, June 2nd. Fourteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently 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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