Abivax (NASDAQ:ABVX) Sets New 12-Month High – Still a Buy?

Shares of Abivax SA Sponsored ADR (NASDAQ:ABVX) reached a new 52-week high during trading on Monday . The company traded as high as $112.50 and last traded at $111.7590, with a volume of 43223 shares traded. The stock had previously closed at $110.39.

Analyst Upgrades and Downgrades

ABVX has been the topic of several research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Abivax in a research report on Wednesday, October 8th. Piper Sandler boosted their price objective on shares of Abivax from $70.00 to $112.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. Wolfe Research raised Abivax to a “strong-buy” rating in a research report on Thursday, November 6th. JMP Securities raised their target price on Abivax from $95.00 to $114.00 and gave the stock a “market outperform” rating in a research note on Thursday, September 25th. Finally, Morgan Stanley boosted their price target on Abivax from $71.00 to $101.00 and gave the company an “overweight” rating in a research note on Friday, September 12th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $121.11.

Abivax Stock Up 2.3%

The firm has a market cap of $8.79 billion, a price-to-earnings ratio of -65.27 and a beta of 0.39. The business’s 50-day simple moving average is $91.72 and its two-hundred day simple moving average is $52.48.

Abivax (NASDAQ:ABVX) last issued its quarterly earnings data on Monday, September 8th. The company reported ($0.86) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.04. On average, analysts expect that Abivax SA Sponsored ADR will post -2.83 earnings per share for the current year.

Institutional Investors Weigh In On Abivax

Several large investors have recently bought and sold shares of ABVX. Octagon Capital Advisors LP purchased a new stake in shares of Abivax during the first quarter worth $7,688,000. Affinity Asset Advisors LLC acquired a new stake in shares of Abivax during the 1st quarter worth approximately $1,250,000. Allostery Investments LP increased its stake in Abivax by 86.0% during the first quarter. Allostery Investments LP now owns 1,099,654 shares of the company’s stock worth $6,873,000 after acquiring an additional 508,401 shares during the last quarter. Aberdeen Group plc raised its holdings in Abivax by 67.5% in the 1st quarter. Aberdeen Group plc now owns 710,516 shares of the company’s stock valued at $4,441,000 after buying an additional 286,335 shares during the period. Finally, Paloma Partners Management Co purchased a new stake in shares of Abivax in the 1st quarter valued at approximately $240,000. 47.91% of the stock is currently owned by hedge funds and other institutional investors.

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.