Abivax (NASDAQ:ABVX) Shares Gap Up on Analyst Upgrade

Abivax SA Sponsored ADR (NASDAQ:ABVX)’s share price gapped up prior to trading on Wednesday after Citizens Jmp raised their price target on the stock from $131.00 to $187.00. The stock had previously closed at $72.50, but opened at $81.26. Citizens Jmp currently has a market outperform rating on the stock. Abivax shares last traded at $82.01, with a volume of 2,267,241 shares trading hands.

Other equities research analysts have also recently issued reports about the company. Jefferies Financial Group cut Abivax from a “buy” rating to a “hold” rating and decreased their price target for the company from $160.00 to $90.00 in a research note on Tuesday. Oddo Bhf reiterated an “outperform” rating on shares of Abivax in a research note on Thursday, April 9th. Morgan Stanley decreased their price target on Abivax from $145.00 to $132.00 and set an “overweight” rating for the company in a research note on Tuesday. Wedbush upgraded Abivax from an “underperform” rating to a “neutral” rating and decreased their price target for the company from $110.00 to $90.00 in a research note on Tuesday. Finally, Citigroup reiterated an “outperform” rating on shares of Abivax in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.15.

Key Stories Impacting Abivax

Here are the key news stories impacting Abivax this week:

• Positive Sentiment: Abivax announced that obefazimod met the main goal and key secondary endpoints in the ABTECT maintenance study for moderately to severely active ulcerative colitis, supporting the drug’s efficacy and potential commercial value. Article Title
• Positive Sentiment: Several analysts responded favorably to the clinical data, with JPM raising its price target, Wedbush upgrading the stock, and BTIG reaffirming a Buy rating, signaling that some on Wall Street still see significant upside. Article Title
• Neutral Sentiment: Abivax said the cancer cases observed in the trial were believed to be unrelated to treatment, but the market is still waiting for more detail on the risk profile and regulatory implications. Article Title
• Negative Sentiment: Despite the efficacy win, shares were hit hard after rare malignancy cases in the Phase 3 trial raised safety concerns and overshadowed the drug’s positive results. Article Title
• Negative Sentiment: Several reports noted the stock’s steep decline, arguing that the safety signal has undercut the prior takeover premium and pushed investors to reassess the drug’s risk/reward profile. Article Title

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. GHP Investment Advisors Inc. raised its stake in shares of Abivax by 155.6% in the first 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 raised its stake in shares of Abivax by 4,612.5% in the third 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 raised its stake 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 purchasing an additional 1,990 shares during the last quarter. Hantz Financial Services Inc. purchased a new position in shares of Abivax in the third quarter worth about $52,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of Abivax by 661.5% in the fourth 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. 47.91% of the stock is currently owned by hedge funds and other institutional investors.

Abivax Stock Up 13.1%

The firm has a 50 day moving average price of $118.57 and a 200-day moving average price of $120.16. The stock has a market capitalization of $6.54 billion, a PE ratio of -15.74 and a beta of 0.69.

Abivax (NASDAQ:ABVX) last announced its quarterly earnings results on Friday, May 22nd. The company reported ($0.71) earnings per share for the quarter, beating the consensus estimate of ($0.94) by $0.23. The company had revenue of $1.56 million for the quarter, compared to analysts’ expectations of $0.40 million. Equities analysts expect that Abivax SA Sponsored ADR will post -3.27 earnings per share for the current fiscal year.

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.