Octagon Capital Advisors LP Acquires Shares of 1,230,000 Abivax SA Sponsored ADR $ABVX

Key Points

• Octagon Capital Advisors LP has acquired a new stake in Abivax SA Sponsored ADR, purchasing 1,230,000 shares valued at approximately $7.69 million, making it the firm's 25th largest holding.
• Several institutional investors, including ADAR1 Capital Management LLC and Allostery Investments LP, have significantly increased their stakes in Abivax, indicating growing confidence in the company's prospects.
• Abivax's share price performance has been notable, with recent analyst ratings reflecting a consensus “Buy” and target prices up to $112.00 following releases of reports citing the company’s potential in the biotechnology sector.

Octagon Capital Advisors LP bought a new stake in Abivax SA Sponsored ADR (NASDAQ:ABVX - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,230,000 shares of the company's stock, valued at approximately $7,688,000. Abivax comprises 0.8% of Octagon Capital Advisors LP's portfolio, making the stock its 25th biggest position. Octagon Capital Advisors LP owned approximately 1.94% of Abivax as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. ADAR1 Capital Management LLC grew its stake in Abivax by 46.0% in the first quarter. ADAR1 Capital Management LLC now owns 2,210,019 shares of the company's stock valued at $13,813,000 after purchasing an additional 696,626 shares in the last quarter. Nantahala Capital Management LLC boosted its holdings in shares of Abivax by 3.3% in the 1st quarter. Nantahala Capital Management LLC now owns 1,482,994 shares of the company's stock valued at $9,269,000 after buying an additional 46,947 shares during the last quarter. Allostery Investments LP grew its stake in shares of Abivax by 86.0% in the first quarter. Allostery Investments LP now owns 1,099,654 shares of the company's stock valued at $6,873,000 after buying an additional 508,401 shares in the last quarter. Millennium Management LLC increased its holdings in Abivax by 6.0% during the first quarter. Millennium Management LLC now owns 987,414 shares of the company's stock worth $6,171,000 after buying an additional 56,235 shares during the last quarter. Finally, Citadel Advisors LLC raised its position in Abivax by 83.5% during the fourth quarter. Citadel Advisors LLC now owns 855,676 shares of the company's stock worth $6,264,000 after acquiring an additional 389,247 shares in the last quarter. 47.91% of the stock is owned by institutional investors and hedge funds.

Abivax Stock Performance

Abivax stock traded down $1.95 during trading hours on Friday, hitting $84.01. The company had a trading volume of 1,042,052 shares, compared to its average volume of 1,152,597. The firm has a 50-day moving average of $59.72 and a 200 day moving average of $25.20. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.29. Abivax SA Sponsored ADR has a one year low of $4.77 and a one year high of $92.91.

Abivax (NASDAQ:ABVX - Get Free Report) last posted its earnings results on Monday, September 8th. The company reported ($0.86) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.04. As a group, equities research analysts anticipate that Abivax SA Sponsored ADR will post -2.83 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on ABVX shares. Wall Street Zen raised shares of Abivax from a "sell" rating to a "hold" rating in a research report on Saturday. Piper Sandler lifted their price target on Abivax from $70.00 to $112.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Citigroup restated a "market outperform" rating on shares of Abivax in a research note on Friday, July 18th. Lifesci Capital raised their price objective on Abivax from $45.00 to $101.00 and gave the company an "outperform" rating in a research report on Wednesday, July 23rd. Finally, Guggenheim lifted their target price on Abivax from $50.00 to $101.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. Based on data from MarketBeat.com, Abivax has a consensus rating of "Buy" and an average price target of $99.43.

Abivax Profile

ABIVAX Société Anonyme, a clinical-stage biotechnology company, focuses on developing therapeutics that harness the body's natural regulatory mechanisms to stablize the immune response in patients with chronic inflammatory diseases. The company is evaluating its lead drug candidate, obefazimod, in Phase 3 clinical trials for the treatment of moderately to severely active ulcerative colitis in adults.