Perceptive Advisors LLC Cuts Position in Abivax SA Sponsored ADR $ABVX

Key Points

• Perceptive Advisors cut its Abivax stake by 28.2% in the first quarter, selling 129,459 shares and retaining 328,884 shares worth approximately $36.6 million. Institutional investors and hedge funds collectively own 47.91% of Abivax.
• Analysts remain broadly optimistic, with 13 Buy ratings, one Hold and one Sell; the consensus rating is Moderate Buy with a $156.50 price target. Piper Sandler and BTIG Research recently raised their targets to $175.
• Abivax shares opened at $124.92, compared with a 52-week range of $67.09 to $148.83. The company exceeded quarterly expectations, reporting an adjusted loss of $0.71 per share versus the expected $0.94 loss and revenue of $1.56 million.

Perceptive Advisors LLC decreased its stake in Abivax SA Sponsored ADR (NASDAQ:ABVX - Free Report) by 28.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 328,884 shares of the company's stock after selling 129,459 shares during the period. Perceptive Advisors LLC owned approximately 0.41% of Abivax worth $36,621,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its stake in shares of Abivax by 56.1% during the 4th quarter. Bank of America Corp DE now owns 5,536 shares of the company's stock worth $41,000 after acquiring an additional 1,990 shares in the last quarter. Cubist Systematic Strategies LLC raised its holdings in Abivax by 34.3% during the first quarter. Cubist Systematic Strategies LLC now owns 10,152 shares of the company's stock worth $63,000 after purchasing an additional 2,595 shares during the last quarter. Millennium Management LLC boosted its position 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 purchasing an additional 56,235 shares in the last quarter. Woodline Partners LP grew its holdings in Abivax by 319.5% in the first quarter. Woodline Partners LP now owns 201,924 shares of the company's stock valued at $1,262,000 after purchasing an additional 153,788 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in Abivax in the second quarter valued at $139,000. 47.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Oddo Bhf reiterated an "outperform" rating on shares of Abivax in a research report on Thursday, April 9th. Piper Sandler upped their price target on shares of Abivax from $165.00 to $175.00 and gave the company an "overweight" rating in a report on Thursday, July 9th. Wall Street Zen upgraded shares of Abivax from a "sell" rating to a "hold" rating in a research report on Saturday, May 23rd. BTIG Research lifted their price objective on Abivax from $150.00 to $175.00 and gave the stock a "buy" rating in a research report on Tuesday, June 30th. Finally, Wedbush increased their target price on Abivax from $90.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, June 30th. Thirteen 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's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $156.50.

Abivax Price Performance

NASDAQ:ABVX opened at $124.92 on Friday. The firm has a market cap of $10.90 billion, a PE ratio of -23.98 and a beta of 0.87. The firm has a 50 day simple moving average of $118.54 and a 200-day simple moving average of $118.41. Abivax SA Sponsored ADR has a 1-year low of $67.09 and a 1-year high of $148.83.

Abivax (NASDAQ:ABVX - Get Free Report) last announced its earnings results on Friday, May 22nd. The company reported ($0.71) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.94) by $0.23. The firm had revenue of $1.56 million for the quarter, compared to analyst estimates of $0.40 million. As a group, sell-side analysts expect that Abivax SA Sponsored ADR will post -3.22 earnings per share for the current fiscal year.

Abivax 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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