Readystate Asset Management LP Raises Stake in Abivax SA Sponsored ADR $ABVX

Key Points

• Readystate Asset Management increased its Abivax stake by 19.6% in the second quarter, holding 241,530 shares valued at approximately $32.2 million. Institutional investors collectively own 47.91% of the company.
• Abivax shares opened at $114.79, with a market capitalization of about $10.02 billion and a 52-week range of $69.81 to $148.83.
• Analyst sentiment remains broadly positive, with 13 Buy ratings, one Hold, and one Sell; the stock has a “Moderate Buy” consensus and an average price target of $156.50.

Readystate Asset Management LP grew its stake in Abivax SA Sponsored ADR (NASDAQ:ABVX - Free Report) by 19.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 241,530 shares of the company's stock after acquiring an additional 39,508 shares during the quarter. Abivax comprises approximately 1.1% of Readystate Asset Management LP's investment portfolio, making the stock its 15th biggest position. Readystate Asset Management LP owned about 0.28% of Abivax worth $32,186,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. UBS Group AG boosted its holdings in Abivax by 2,561.0% in the 3rd quarter. UBS Group AG now owns 4,461,262 shares of the company's stock valued at $378,761,000 after purchasing an additional 4,293,606 shares during the last quarter. Morgan Stanley grew its stake in shares of Abivax by 114.3% in the 4th quarter. Morgan Stanley now owns 3,151,994 shares of the company's stock valued at $425,062,000 after buying an additional 1,681,277 shares during the period. Paradigm Biocapital Advisors LP acquired a new stake in shares of Abivax during the 3rd quarter worth approximately $132,800,000. TCG Crossover Management LLC increased its holdings in shares of Abivax by 17.4% during the 3rd quarter. TCG Crossover Management LLC now owns 7,111,596 shares of the company's stock worth $603,774,000 after buying an additional 1,055,000 shares during the last quarter. Finally, Westfield Capital Management Co. LP purchased a new stake in shares of Abivax during the 4th quarter valued at approximately $136,199,000. Hedge funds and other institutional investors own 47.91% of the company's stock.

Abivax Stock Performance

NASDAQ:ABVX opened at $114.79 on Monday. The stock has a market capitalization of $10.02 billion, a P/E ratio of -22.03 and a beta of 0.96. The company has a 50 day moving average price of $126.10 and a 200 day moving average price of $118.64. Abivax SA Sponsored ADR has a fifty-two week low of $69.81 and a fifty-two week high of $148.83.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Piper Sandler upped their price objective on Abivax from $165.00 to $175.00 and gave the company an "overweight" rating in a report on Thursday, July 9th. Weiss Ratings restated a "sell (d-)" rating on shares of Abivax in a research report on Friday, July 17th. Wall Street Zen raised Abivax from a "sell" rating to a "hold" rating in a research note on Saturday, May 23rd. Wolfe Research set a $136.00 price target on Abivax in a report on Wednesday, June 3rd. Finally, HC Wainwright reissued a "buy" rating on shares of Abivax in a research report on Tuesday, June 30th. Thirteen 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $156.50.

Abivax Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.