Abivax (NASDAQ:ABVX) Sees Strong Trading Volume – Still a Buy?

Shares of Abivax SA Sponsored ADR (NASDAQ:ABVX) saw unusually-strong trading volume on Thursday . Approximately 956,903 shares were traded during mid-day trading, a decline of 30% from the previous session’s volume of 1,368,668 shares.The stock last traded at $97.1860 and had previously closed at $90.15.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ABVX shares. Wolfe Research set a $136.00 price target on shares of Abivax in a research report on Wednesday. Oddo Bhf reaffirmed an “outperform” rating on shares of Abivax in a research report on Thursday, April 9th. Citizens Jmp raised their price target on shares of Abivax from $131.00 to $187.00 and gave the company a “market outperform” rating in a research report on Tuesday. Truist Financial dropped their price target on shares of Abivax from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Wedbush raised shares of Abivax from an “underperform” rating to a “neutral” rating and dropped their target price for the stock from $110.00 to $90.00 in a research report on Tuesday. Twelve analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $130.08.

Abivax Trading Down 3.2%

The company’s 50-day simple moving average is $116.81 and its 200 day simple moving average is $119.70. The stock has a market cap of $8.09 billion, a P/E ratio of -19.49 and a beta of 0.69.

Abivax (NASDAQ:ABVX) last posted its earnings results on Friday, May 22nd. The company reported ($0.71) EPS for the quarter, topping the consensus estimate of ($0.94) by $0.23. The firm had revenue of $1.56 million for the quarter, compared to the consensus estimate of $0.40 million. Research analysts anticipate that Abivax SA Sponsored ADR will post -3.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Abivax

Large investors have recently modified their holdings of the stock. GHP Investment Advisors Inc. increased its stake in shares of Abivax by 155.6% during the 1st quarter. GHP Investment Advisors Inc. now owns 230 shares of the company’s stock worth $26,000 after purchasing an additional 140 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Abivax by 4,612.5% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 377 shares of the company’s stock worth $32,000 after purchasing an additional 369 shares during the last quarter. Bank of America Corp DE increased its stake 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 worth $41,000 after purchasing an additional 1,990 shares during the last quarter. Hantz Financial Services Inc. purchased a new stake in shares of Abivax during the 3rd quarter worth approximately $52,000. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of Abivax by 661.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 396 shares of the company’s stock worth $53,000 after purchasing an additional 344 shares during the last quarter. Hedge funds and other institutional investors own 47.91% of the company’s stock.

About Abivax

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.