Abivax (NASDAQ:ABVX) Posts Quarterly Earnings Results, Beats Estimates By $0.23 EPS

Abivax (NASDAQ:ABVX) announced its quarterly earnings data on Friday. The company reported ($0.71) earnings per share for the quarter, beating the consensus estimate of ($0.94) by $0.23, FiscalAI reports. The company had revenue of $1.56 million during the quarter, compared to the consensus estimate of $0.40 million.

Abivax Trading Down 1.6%

NASDAQ ABVX traded down $2.04 on Friday, hitting $121.99. 1,160,309 shares of the company’s stock were exchanged, compared to its average volume of 1,099,281. The stock has a 50-day moving average of $117.55 and a 200-day moving average of $118.96. Abivax has a 52 week low of $5.59 and a 52 week high of $148.83. The stock has a market cap of $9.72 billion, a price-to-earnings ratio of -22.72 and a beta of 0.84.

Wall Street Analysts Forecast Growth

ABVX has been the subject of several analyst reports. Wall Street Zen cut Abivax from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. BTIG Research reiterated a “buy” rating and set a $150.00 price target on shares of Abivax in a report on Wednesday, February 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Abivax in a research report on Monday, April 20th. Barclays lifted their price objective on shares of Abivax from $142.00 to $148.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 24th. Finally, Oddo Bhf reaffirmed an “outperform” rating on shares of Abivax in a research report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Abivax presently has a consensus rating of “Moderate Buy” and an average price target of $137.15.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd raised its holdings in Abivax by 661.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 396 shares of the company’s stock valued at $53,000 after buying an additional 344 shares during the last quarter. T. Rowe Price Investment Management Inc. bought a new position in Abivax during the 4th quarter worth $61,000. &PARTNERS bought a new position in Abivax during the 4th quarter worth $299,000. SmartHarvest Portfolios LLC bought a new position in Abivax during the 4th quarter worth approximately $326,000. Finally, Fox Run Management L.L.C. bought a new position in Abivax during the 4th quarter worth approximately $339,000. 47.91% of the stock is currently owned by institutional investors.

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.