Abivax (NASDAQ:ABVX) Research Coverage Started at Truist Financial

Truist Financial started coverage on shares of Abivax (NASDAQ:ABVX) in a research note released on Monday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $140.00 target price on the stock.

A number of other equities analysts have also recently commented on the company. Morgan Stanley raised their target price on Abivax from $71.00 to $101.00 and gave the stock an “overweight” rating in a report on Friday, September 12th. Guggenheim upped their price target on Abivax from $101.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, October 10th. Piper Sandler lifted their price objective on Abivax from $70.00 to $112.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. Barclays initiated coverage on Abivax in a research note on Monday, October 13th. They set an “overweight” rating and a $142.00 price objective for the company. Finally, Wolfe Research raised shares of Abivax to a “strong-buy” rating in a report on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $123.00.

Abivax Trading Down 2.0%

ABVX opened at $125.68 on Monday. The company’s 50 day moving average is $97.24 and its 200 day moving average is $58.50. The company has a market cap of $9.78 billion, a price-to-earnings ratio of -72.65 and a beta of 0.38. Abivax has a 12-month low of $4.77 and a 12-month high of $130.25.

Abivax (NASDAQ:ABVX) last released its quarterly earnings results on Monday, September 8th. The company reported ($0.86) earnings per share for the quarter, topping the consensus estimate of ($0.90) by $0.04. As a group, analysts predict that Abivax will post -2.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Abivax

A number of institutional investors have recently added to or reduced their stakes in the stock. TCG Crossover Management LLC lifted its holdings in shares of Abivax by 17.4% in the third 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 in the last quarter. UBS Group AG grew its stake in Abivax by 2,561.0% during the third quarter. UBS Group AG now owns 4,461,262 shares of the company’s stock valued at $378,761,000 after acquiring an additional 4,293,606 shares in the last quarter. Darwin Global Management Ltd. bought a new stake in Abivax in the 3rd quarter valued at $263,698,000. ADAR1 Capital Management LLC lifted its stake in Abivax by 46.0% in the 1st quarter. ADAR1 Capital Management LLC now owns 2,210,019 shares of the company’s stock worth $13,813,000 after purchasing an additional 696,626 shares in the last quarter. Finally, Paradigm Biocapital Advisors LP purchased a new stake in Abivax in the 3rd quarter worth $132,800,000. 47.91% of the stock is owned by hedge funds and other institutional investors.

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.