Principal Financial Group Inc. Increases Holdings in Abivax SA Sponsored ADR $ABVX

Key Points

• Principal Financial Group Inc. increased its Abivax stake by 43.3% in the first quarter, buying 94,384 additional shares and bringing its total holdings to 312,274 shares worth about $34.8 million.
• Other institutional investors also adjusted positions in Abivax, and the stock is now about 47.9% owned by hedge funds and other institutions.
• Analysts remain broadly positive on ABVX, with a Moderate Buy consensus and an average price target of $148.54; Abivax also recently beat quarterly EPS and revenue estimates.

Principal Financial Group Inc. grew its position in shares of Abivax SA Sponsored ADR (NASDAQ:ABVX - Free Report) by 43.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 312,274 shares of the company's stock after buying an additional 94,384 shares during the quarter. Principal Financial Group Inc. owned 0.39% of Abivax worth $34,772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of America Corp DE grew its holdings in shares of 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 acquiring an additional 1,990 shares during the period. Cubist Systematic Strategies LLC lifted its holdings in Abivax by 34.3% in the first quarter. Cubist Systematic Strategies LLC now owns 10,152 shares of the company's stock valued at $63,000 after acquiring an additional 2,595 shares during the period. Millennium Management LLC boosted its position in Abivax by 6.0% in 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 during the last quarter. Woodline Partners LP boosted its position in Abivax by 319.5% in the first quarter. Woodline Partners LP now owns 201,924 shares of the company's stock worth $1,262,000 after purchasing an additional 153,788 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Abivax during the 2nd quarter valued at about $139,000. 47.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ABVX shares. Morgan Stanley reduced their price target on shares of Abivax from $145.00 to $132.00 and set an "overweight" rating for the company in a research report on Tuesday, June 2nd. Jefferies Financial Group upgraded shares of Abivax from a "hold" rating to a "buy" rating and boosted their target price for the company from $108.00 to $158.00 in a research report on Tuesday, June 30th. Wolfe Research set a $136.00 target price on shares of Abivax in a report on Wednesday, June 3rd. Truist Financial increased their price target on shares of Abivax from $135.00 to $155.00 and gave the stock a "buy" rating in a research report on Thursday, July 2nd. Finally, Wall Street Zen upgraded shares of Abivax from a "sell" rating to a "hold" rating in a research note on Saturday, May 23rd. Fourteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $148.54.

Abivax Stock Down 0.8%

NASDAQ ABVX opened at $136.65 on Friday. The stock's 50-day moving average price is $116.97 and its 200-day moving average price is $118.47. Abivax SA Sponsored ADR has a 52 week low of $9.86 and a 52 week high of $148.83. The company has a market capitalization of $10.90 billion, a P/E ratio of -26.23 and a beta of 0.87.

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