Mirae Asset Global Investments Co. Ltd. Buys 32,321 Shares of Abivax SA Sponsored ADR $ABVX

Key Points

• Mirae Asset Global Investments opened a new position in Abivax, buying 32,321 shares worth approximately $3.2 million in the third quarter. Institutional investors collectively own 47.91% of the stock.
• Analyst sentiment is broadly positive: Abivax has a consensus “Moderate Buy” rating and a $155 average price target, though ratings range from Strong Buy to Sell.
• Abivax shares traded at $85.73, below their 50-day and 200-day moving averages. The company reported a quarterly loss of $1.71 per share, worse than analysts’ $0.92 loss estimate.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Abivax SA Sponsored ADR (NASDAQ:ABVX - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 32,321 shares of the company's stock, valued at approximately $3,200,000.

Several other hedge funds also recently modified their holdings of the business. China Universal Asset Management Co. Ltd. raised its stake in shares of Abivax by 15.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 10,631 shares of the company's stock valued at $1,047,000 after buying an additional 1,406 shares in the last quarter. Angeles Wealth Management LLC acquired a new position in Abivax during the 3rd quarter valued at about $497,000. Iridian Asset Management LLC CT raised its position in shares of Abivax by 85.5% during the 3rd quarter. Iridian Asset Management LLC CT now owns 17,005 shares of the company's stock valued at $1,684,000 after acquiring an additional 7,840 shares during the last quarter. Guardian Partners Inc. boosted its holdings in Abivax by 92.6% during the third quarter. Guardian Partners Inc. now owns 5,200 shares of the company's stock worth $515,000 after buying an additional 2,500 shares during the last quarter. Finally, Diversify Advisory Services LLC boosted its position in shares of Abivax by 19.0% during the third quarter. Diversify Advisory Services LLC now owns 24,780 shares of the company's stock worth $2,289,000 after purchasing an additional 3,963 shares in the last quarter. 47.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ABVX has been the subject of several analyst reports. Wall Street Zen cut Abivax from a "hold" rating to a "sell" rating in a report on Saturday, September 26th. Barclays restated an "overweight" rating and issued a $148.00 price target on shares of Abivax in a research note on Tuesday, September 22nd. The Goldman Sachs Group initiated coverage on Abivax in a research report on Wednesday, September 9th. They set a "buy" rating and a $155.00 price target on the stock. Truist Financial cut their price objective on Abivax from $155.00 to $151.00 and set a "buy" rating for the company in a report on Tuesday, September 22nd. Finally, Morgan Stanley reissued an "overweight" rating and issued a $180.00 target price on shares of Abivax in a research note on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $155.00.

Abivax Price Performance

NASDAQ ABVX traded up $1.55 on Friday, reaching $85.73. The stock had a trading volume of 827,191 shares, compared to its average volume of 1,072,878. The company has a market cap of $7.51 billion, a P/E ratio of -14.15 and a beta of 1.36. Abivax SA Sponsored ADR has a 1-year low of $69.81 and a 1-year high of $148.83. The firm has a fifty day moving average of $97.20 and a two-hundred day moving average of $113.33.

Abivax (NASDAQ:ABVX - Get Free Report) last issued its quarterly earnings results on Monday, September 21st. The company reported ($1.71) EPS for the quarter, missing analysts' consensus estimates of ($0.92) by ($0.79). The company had revenue of $1.37 million during the quarter, compared to the consensus estimate of $0.80 million. Research analysts predict that Abivax SA Sponsored ADR will post -4.14 EPS for the current fiscal year.

Abivax Profile

Abivax SA NASDAQ: ABVX is a clinical-stage biotechnology company focused on developing therapeutics for chronic inflammatory and immune-mediated diseases. Headquartered in Paris, France, the company conducts research and clinical development aimed at addressing conditions with significant unmet medical needs.

Abivax's lead investigational product is obefazimod, an oral small-molecule therapy designed to selectively increase levels of microRNA-124, a regulatory molecule involved in controlling inflammatory responses.

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