Weiss Ratings Reaffirms "Sell (D-)" Rating for Abivax (NASDAQ:ABVX)

Key Points

• Weiss Ratings has reaffirmed its "Sell (D-)" rating for Abivax (NASDAQ:ABVX), indicating a negative outlook for the stock.
• Despite the downgrade from Weiss, several analysts have boosted their price targets for Abivax, with BTIG Research increasing it from $112.00 to $120.00 and assigning a "buy" rating.
• Abivax's stock recently rose by 2.2%, reaching a trading price of $88.90, although it has seen significant volatility with a 12-month low of $4.77 and a high of $92.91.

Abivax (NASDAQ:ABVX - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Several other analysts also recently weighed in on the stock. BTIG Research boosted their price target on shares of Abivax from $112.00 to $120.00 and gave the stock a "buy" rating in a research note on Monday. Leerink Partners set a $74.00 target price on Abivax and gave the company an "outperform" rating in a report on Wednesday, July 23rd. Lifesci Capital raised their price target on Abivax from $45.00 to $101.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. Morgan Stanley raised their price target on Abivax from $71.00 to $101.00 and gave the stock an "overweight" rating in a research report on Friday, September 12th. Finally, JMP Securities raised their price target on Abivax from $95.00 to $114.00 and gave the stock a "market outperform" rating in a research report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $103.29.

Abivax Stock Up 2.2%

Abivax stock traded up $1.89 during mid-day trading on Wednesday, reaching $88.90. The company's stock had a trading volume of 320,094 shares, compared to its average volume of 717,328. Abivax has a 12-month low of $4.77 and a 12-month high of $92.91. The firm's fifty day moving average price is $79.08 and its two-hundred day moving average price is $34.09.

Abivax (NASDAQ:ABVX - Get Free Report) last announced its quarterly earnings results on Monday, September 8th. The company reported ($0.86) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.04. On average, analysts predict that Abivax will post -2.83 earnings per share for the current year.

Institutional Investors Weigh In On Abivax

Several institutional investors and hedge funds have recently added to or reduced their stakes in ABVX. Bank of America Corp DE boosted its holdings 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 purchasing an additional 1,990 shares during the last quarter. Cubist Systematic Strategies LLC raised its position in Abivax by 34.3% in the first quarter. Cubist Systematic Strategies LLC now owns 10,152 shares of the company's stock worth $63,000 after acquiring an additional 2,595 shares during the period. GAMMA Investing LLC raised its position in Abivax by 373.6% in the first quarter. GAMMA Investing LLC now owns 18,831 shares of the company's stock worth $118,000 after acquiring an additional 14,855 shares during the period. XTX Topco Ltd bought a new position in Abivax in the second quarter worth approximately $139,000. Finally, Two Sigma Investments LP bought a new position in Abivax in the fourth quarter worth approximately $144,000. Hedge funds and other institutional investors own 47.91% of the company's stock.

Abivax Company Profile

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.

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