Pictet Asset Management Holding SA Reduces Position in Abivax SA Sponsored ADR $ABVX

Key Points

• Pictet Asset Management cut its Abivax stake by 16.8% in the first quarter, selling 20,904 shares and leaving it with 103,545 shares valued at about $11.2 million.
• Despite some selling, institutional ownership remains high, with hedge funds and other institutional investors holding 47.91% of Abivax shares overall.
• Analysts are still broadly positive on the stock: Abivax has 14 Buy ratings, one Hold, and one Sell, with an average price target of $146 and the shares recently trading near that level.

Pictet Asset Management Holding SA decreased its holdings in shares of Abivax SA Sponsored ADR (NASDAQ:ABVX - Free Report) by 16.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,545 shares of the company's stock after selling 20,904 shares during the period. Pictet Asset Management Holding SA owned about 0.13% of Abivax worth $11,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of ABVX. GHP Investment Advisors Inc. raised its holdings in Abivax by 155.6% in 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 period. EverSource Wealth Advisors LLC grew its holdings in Abivax by 4,612.5% during the third quarter. EverSource Wealth Advisors LLC now owns 377 shares of the company's stock valued at $32,000 after purchasing an additional 369 shares during the period. Bank of America Corp DE increased its position in Abivax by 56.1% in the fourth quarter. Bank of America Corp DE now owns 5,536 shares of the company's stock worth $41,000 after buying an additional 1,990 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in Abivax by 661.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 396 shares of the company's stock worth $53,000 after buying an additional 344 shares in the last quarter. Finally, WPG Advisers LLC raised its stake in shares of Abivax by 125.9% in the fourth quarter. WPG Advisers LLC now owns 454 shares of the company's stock worth $61,000 after buying an additional 253 shares during the period. 47.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Citigroup reaffirmed an "outperform" rating on shares of Abivax in a research report on Tuesday, June 2nd. Guggenheim reissued a "buy" rating on shares of Abivax in a report on Tuesday. Wall Street Zen upgraded shares of Abivax from a "sell" rating to a "hold" rating in a research note on Saturday, May 23rd. Morgan Stanley lowered their price target on shares of Abivax from $145.00 to $132.00 and set an "overweight" rating on the stock in a report on Tuesday, June 2nd. Finally, Wedbush upped their price target on shares of Abivax from $90.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday. Fourteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Abivax presently has an average rating of "Moderate Buy" and an average price target of $146.00.

Abivax Price Performance

NASDAQ:ABVX opened at $144.65 on Friday. The business's 50-day simple moving average is $112.63 and its two-hundred day simple moving average is $117.74. Abivax SA Sponsored ADR has a 52 week low of $7.64 and a 52 week high of $148.83. The stock has a market cap of $11.54 billion, a PE ratio of -27.76 and a beta of 0.87.

Abivax (NASDAQ:ABVX - Get Free Report) last released its quarterly earnings data on Friday, May 22nd. The company reported ($0.71) earnings per share for the quarter, topping analysts' consensus estimates of ($0.94) by $0.23. The business had revenue of $1.56 million during the quarter, compared to the consensus estimate of $0.40 million. Sell-side analysts anticipate that Abivax SA Sponsored ADR will post -3.4 earnings per share for the current fiscal year.

Key Stories Impacting Abivax

Here are the key news stories impacting Abivax this week:

• Positive Sentiment: Abivax completed a major ADS offering and fully exercised the underwriters’ option, lifting gross proceeds to about $920 million, which strengthens its balance sheet and reduces near-term financing risk. Article Title
• Positive Sentiment: Truist raised its price target on ABVX to $155 from $135 and reiterated a buy rating, signaling confidence that the shares still have room to run. Article Title
• Positive Sentiment: Market coverage noted that shares continued climbing after the biotech firm moved to bolster its balance sheet, with investor appetite supported by positive clinical-trial data. Article Title
• Neutral Sentiment: Bullish commentary on a stock-picking Substack highlighted ABVX as a potential buy, adding to the recent positive investor narrative. Article Title
• Neutral Sentiment: Some coverage also warned that ABVX may look expensive even after its strong trial progress, which could temper enthusiasm if the valuation becomes harder to justify. Article Title

About Abivax

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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