Walleye Capital LLC Sells 81,797 Shares of Abivax SA Sponsored ADR $ABVX

Key Points

• Walleye Capital LLC has reduced its holdings in Abivax SA by selling 81,797 shares, resulting in a total ownership of 220,845 shares, which is about 0.35% of the company.
• Several hedge funds have increased their stakes in Abivax, including Bank of America Corp DE, which boosted its position by 56.1%, reflecting strong interest from institutional investors currently owning 47.91% of the stock.
• Analysts are optimistic about Abivax, with multiple upgrades and target price increases, leading to an average rating of "Buy" and a consensus target price of $92.33.

Walleye Capital LLC lowered its stake in shares of Abivax SA Sponsored ADR (NASDAQ:ABVX - Free Report) by 27.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 220,845 shares of the company's stock after selling 81,797 shares during the quarter. Walleye Capital LLC owned about 0.35% of Abivax worth $1,380,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of ABVX. Allostery Investments LP acquired a new stake in shares of Abivax in the 4th quarter valued at $4,328,000. Ameriprise Financial Inc. acquired a new stake in shares of Abivax during the 4th quarter valued at $85,000. BNP Paribas Financial Markets boosted its holdings in shares of Abivax by 47.5% during the 4th quarter. BNP Paribas Financial Markets now owns 19,244 shares of the company's stock valued at $141,000 after acquiring an additional 6,200 shares in the last quarter. Bank of America Corp DE boosted its holdings 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 valued at $41,000 after acquiring an additional 1,990 shares in the last quarter. Finally, Citadel Advisors LLC boosted its holdings in shares of Abivax by 83.5% during the 4th quarter. Citadel Advisors LLC now owns 855,676 shares of the company's stock valued at $6,264,000 after acquiring an additional 389,247 shares in the last quarter. Institutional investors and hedge funds own 47.91% of the company's stock.

Abivax Stock Performance

Shares of ABVX stock traded up $0.86 during mid-day trading on Wednesday, hitting $82.85. The company's stock had a trading volume of 417,618 shares, compared to its average volume of 663,798. The company's fifty day simple moving average is $47.06 and its 200-day simple moving average is $20.68. Abivax SA Sponsored ADR has a 52 week low of $4.77 and a 52 week high of $83.87. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.25 and a current ratio of 1.25.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ABVX. Piper Sandler raised their price objective on Abivax from $70.00 to $112.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Citigroup reaffirmed a "market outperform" rating on shares of Abivax in a research report on Friday, July 18th. Leerink Partners set a $74.00 target price on Abivax and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. Lifesci Capital raised their target price on Abivax from $45.00 to $101.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. Finally, Morgan Stanley raised Abivax from an "equal weight" rating to an "overweight" rating and set a $71.00 target price for the company in a research report on Wednesday, July 23rd. One equities research 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.com, the company currently has an average rating of "Buy" and a consensus price target of $92.33.

About Abivax

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.