Abivax’s (ABVX) Sell (D-) Rating Reiterated at Weiss Ratings

Weiss Ratings restated their sell (d-) rating on shares of Abivax (NASDAQ:ABVX) in a report issued on Wednesday morning,Weiss Ratings reports.

Several other research firms also recently commented on ABVX. Morgan Stanley lifted their price objective on shares of Abivax from $71.00 to $101.00 and gave the stock an “overweight” rating in a research note on Friday, September 12th. Leerink Partners set a $74.00 price objective on shares of Abivax and gave the company an “outperform” rating in a report on Wednesday, July 23rd. Lifesci Capital boosted their price objective on shares of Abivax from $45.00 to $101.00 and gave the company an “outperform” rating in a report on Wednesday, July 23rd. Wall Street Zen upgraded shares of Abivax from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Finally, JMP Securities boosted their target price on shares of Abivax from $95.00 to $114.00 and gave the company a “market outperform” rating in a research report on Thursday, September 25th. One 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 MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $110.29.

Abivax Stock Up 3.5%

NASDAQ ABVX opened at $93.77 on Wednesday. The firm’s fifty day simple moving average is $80.21 and its two-hundred day simple moving average is $35.63. Abivax has a 12-month low of $4.77 and a 12-month high of $97.83.

Abivax (NASDAQ:ABVX) last released its quarterly earnings results on Monday, September 8th. The company reported ($0.86) earnings per share (EPS) for the quarter, topping 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 fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ABVX. Bank of America Corp DE raised its position in shares of 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 acquiring an additional 1,990 shares during the period. Two Sigma Investments LP acquired a new position in shares of Abivax in the fourth quarter worth about $144,000. GAMMA Investing LLC raised its position in shares of 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. Aberdeen Group plc raised its position in shares of Abivax by 67.5% in the first quarter. Aberdeen Group plc now owns 710,516 shares of the company’s stock worth $4,441,000 after acquiring an additional 286,335 shares during the period. Finally, Affinity Asset Advisors LLC acquired a new position in shares of Abivax in the first quarter worth about $1,250,000. Institutional investors and hedge funds own 47.91% of the company’s stock.

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.