Abivax (NASDAQ:ABVX) Stock Gets Price Target Reduction from Wedbush

Abivax (NASDAQ:ABVX) had its price objective decreased by Wedbush from $118.00 to $96.00 in a report issued on Wednesday,Benzinga reports. Wedbush currently has a neutral rating on the stock.

ABVX has been the topic of a number of other reports. Citizens Jmp reaffirmed a “market outperform” rating and issued a $187.00 price target on shares of Abivax in a research note on Wednesday, July 1st. The Goldman Sachs Group assumed coverage on Abivax in a report on Wednesday, September 9th. They set a “buy” rating and a $155.00 price objective for the company. Barclays reissued an “overweight” rating and set a $148.00 price objective on shares of Abivax in a research report on Tuesday, September 22nd. Guggenheim restated a “buy” rating and issued a $175.00 target price on shares of Abivax in a research note on Tuesday. Finally, HC Wainwright restated a “buy” rating on shares of Abivax in a research note on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $155.00.

Abivax Stock Performance

Shares of ABVX opened at $88.01 on Wednesday. The company’s 50 day moving average price is $103.22 and its 200 day moving average price is $113.77. Abivax has a 52 week low of $69.81 and a 52 week high of $148.83. The company has a market capitalization of $7.70 billion, a PE ratio of -14.52 and a beta of 1.14.

Abivax (NASDAQ:ABVX) last released its quarterly earnings data on Monday, September 21st. The company reported ($1.71) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.79). The business had revenue of $1.37 million for the quarter, compared to analysts’ expectations of $0.80 million. On average, equities analysts forecast that Abivax will post -4.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ABVX. Eversept Partners LP increased its position in Abivax by 42.0% in the 1st quarter. Eversept Partners LP now owns 934,423 shares of the company’s stock worth $104,048,000 after buying an additional 276,589 shares during the period. Janus Henderson Group PLC boosted its position in shares of Abivax by 31.6% in the first quarter. Janus Henderson Group PLC now owns 878,829 shares of the company’s stock valued at $98,007,000 after acquiring an additional 211,068 shares during the period. Bank of America Corp DE grew its stake in shares of Abivax by 40.9% in the first quarter. Bank of America Corp DE now owns 735,729 shares of the company’s stock worth $81,923,000 after acquiring an additional 213,440 shares during the last quarter. Two Seas Capital LP acquired a new stake in shares of Abivax in the third quarter worth $66,996,000. Finally, Orbimed Advisors LLC grew its stake in shares of Abivax by 26.6% in the first quarter. Orbimed Advisors LLC now owns 465,700 shares of the company’s stock worth $51,856,000 after acquiring an additional 97,800 shares during the last quarter. Institutional investors and hedge funds own 47.91% of the company’s stock.

About Abivax

Abivax SA (NASDAQ: ABVX) is a clinical-stage biotechnology company focused on developing therapeutics for chronic inflammatory and immune-mediated diseases. Headquartered in Paris, France, the company conducts research and clinical development aimed at addressing conditions with significant unmet medical needs.

Abivax’s lead investigational product is obefazimod, an oral small-molecule therapy designed to selectively increase levels of microRNA-124, a regulatory molecule involved in controlling inflammatory responses.