Paloma Partners Management Co Purchases Shares of 38,449 Abivax SA Sponsored ADR $ABVX

Key Points

• Paloma Partners Management Co has acquired a new position in Abivax SA, totaling approximately $240,000 for 38,449 shares, representing about 0.06% of the company.
• Analysts have raised their price targets for Abivax, with JMP Securities setting a target as high as $95.00 and Piper Sandler at $112.00, resulting in a consensus rating of "Buy" with an average price target of $92.33.
• As of the latest reports, approximately 47.91% of Abivax shares are owned by institutional investors, showing growing interest in the company.

Paloma Partners Management Co bought a new position in shares of Abivax SA Sponsored ADR (NASDAQ:ABVX - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm bought 38,449 shares of the company's stock, valued at approximately $240,000. Paloma Partners Management Co owned approximately 0.06% of Abivax as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Nantahala Capital Management LLC increased its position in shares of Abivax by 3.3% during the 1st quarter. Nantahala Capital Management LLC now owns 1,482,994 shares of the company's stock worth $9,269,000 after purchasing an additional 46,947 shares in the last quarter. Millennium Management LLC increased its position in shares of Abivax by 44.2% during the 4th quarter. Millennium Management LLC now owns 931,179 shares of the company's stock worth $6,816,000 after purchasing an additional 285,542 shares in the last quarter. Citadel Advisors LLC increased its position in shares of Abivax by 83.5% during the 4th quarter. Citadel Advisors LLC now owns 855,676 shares of the company's stock worth $6,264,000 after purchasing an additional 389,247 shares in the last quarter. Aberdeen Group plc increased its position in Abivax by 67.5% in the 1st quarter. Aberdeen Group plc now owns 710,516 shares of the company's stock valued at $4,441,000 after acquiring an additional 286,335 shares in the last quarter. Finally, Affinity Asset Advisors LLC acquired a new stake in Abivax in the 1st quarter valued at about $1,250,000. Institutional investors and hedge funds own 47.91% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Citigroup restated a "market outperform" rating on shares of Abivax in a research report on Friday, July 18th. Leerink Partners set a $74.00 price objective on shares of Abivax and gave the company an "outperform" rating in a research report on Wednesday, July 23rd. JMP Securities raised their price objective on shares of Abivax from $33.00 to $95.00 and gave the company a "market outperform" rating in a research report on Wednesday, July 23rd. Piper Sandler raised their price objective on shares of Abivax from $70.00 to $112.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Finally, Lifesci Capital raised their price objective on shares of Abivax from $45.00 to $101.00 and gave the company an "outperform" rating in a research report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $92.33.

Abivax Price Performance

Abivax stock traded up $2.48 during midday trading on Friday, hitting $88.03. 3,203,311 shares of the stock were exchanged, compared to its average volume of 959,392. The company has a fifty day simple moving average of $51.77 and a two-hundred day simple moving average of $22.21. Abivax SA Sponsored ADR has a 52 week low of $4.77 and a 52 week high of $92.91. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.29.

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.