Abivax (NASDAQ:ABVX) Releases Earnings Results

Abivax (NASDAQ:ABVX) issued its quarterly earnings results on Monday. The company reported ($2.46) earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of ($4.92) million during the quarter.

Abivax Stock Performance

ABVX stock traded down $7.63 during trading on Monday, reaching $117.91. 1,663,831 shares of the company traded hands, compared to its average volume of 849,252. The company has a market capitalization of $9.19 billion, a price-to-earnings ratio of -68.16 and a beta of 0.49. The business has a 50 day simple moving average of $106.26 and a 200 day simple moving average of $68.55. Abivax has a 12 month low of $4.77 and a 12 month high of $138.49.

Wall Street Analyst Weigh In

ABVX has been the topic of several recent research reports. Guggenheim raised 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. BTIG Research raised their target price on Abivax from $112.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. Truist Financial set a $140.00 price objective on Abivax in a report on Monday, November 24th. Citigroup reaffirmed a “market outperform” rating on shares of Abivax in a research report on Tuesday, November 4th. Finally, Wolfe Research raised shares of Abivax to a “strong-buy” rating in a research note on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Abivax currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.00.

Institutional Trading of Abivax

Large investors have recently bought and sold shares of the stock. Bank of America Corp DE lifted 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 valued at $41,000 after acquiring an additional 1,990 shares during the period. Aberdeen Group plc boosted its holdings in Abivax by 67.5% during the first quarter. Aberdeen Group plc now owns 710,516 shares of the company’s stock worth $4,441,000 after buying an additional 286,335 shares in the last quarter. Affinity Asset Advisors LLC purchased a new stake in Abivax during the first quarter worth $1,250,000. Cubist Systematic Strategies LLC grew its position in Abivax by 34.3% during the first quarter. Cubist Systematic Strategies LLC now owns 10,152 shares of the company’s stock valued at $63,000 after buying an additional 2,595 shares during the period. Finally, Nantahala Capital Management LLC increased its holdings in Abivax by 3.3% in the first quarter. Nantahala Capital Management LLC now owns 1,482,994 shares of the company’s stock valued at $9,269,000 after buying an additional 46,947 shares in the last quarter. 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.