Cormorant Asset Management LP Has $182.05 Million Position in Abivax SA Sponsored ADR $ABVX

Cormorant Asset Management LP cut its holdings in Abivax SA Sponsored ADR (NASDAQ:ABVX) by 30.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,350,000 shares of the company’s stock after selling 600,000 shares during the quarter. Abivax makes up about 8.4% of Cormorant Asset Management LP’s holdings, making the stock its 3rd largest holding. Cormorant Asset Management LP’s holdings in Abivax were worth $182,054,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. UBS Group AG grew its holdings in shares of Abivax by 2,561.0% during the third quarter. UBS Group AG now owns 4,461,262 shares of the company’s stock worth $378,761,000 after buying an additional 4,293,606 shares in the last quarter. Darwin Global Management Ltd. acquired a new stake in shares of Abivax in the third quarter valued at approximately $263,698,000. Morgan Stanley lifted its holdings in Abivax by 114.3% during the 4th quarter. Morgan Stanley now owns 3,151,994 shares of the company’s stock worth $425,062,000 after purchasing an additional 1,681,277 shares during the last quarter. Paradigm Biocapital Advisors LP acquired a new stake in Abivax during the 3rd quarter worth approximately $132,800,000. Finally, TCG Crossover Management LLC lifted its holdings in Abivax by 17.4% during the 3rd quarter. TCG Crossover Management LLC now owns 7,111,596 shares of the company’s stock worth $603,774,000 after purchasing an additional 1,055,000 shares during the last quarter. 47.91% of the stock is currently owned by institutional investors and hedge funds.

Abivax Stock Up 2.7%

Shares of Abivax stock opened at $100.15 on Thursday. The company has a market cap of $7.99 billion, a PE ratio of -19.22 and a beta of 0.69. Abivax SA Sponsored ADR has a 52 week low of $5.69 and a 52 week high of $148.83. The business has a 50 day moving average price of $114.81 and a 200-day moving average price of $118.49.

Abivax (NASDAQ:ABVX) last issued its quarterly earnings results on Friday, May 22nd. The company reported ($0.71) EPS for the quarter, beating analysts’ consensus estimates of ($0.94) by $0.23. The business had revenue of $1.56 million for the quarter, compared to analysts’ expectations of $0.40 million. As a group, research analysts anticipate that Abivax SA Sponsored ADR will post -3.4 EPS for the current year.

Wall Street Analysts Forecast Growth

ABVX has been the subject of several analyst reports. Oddo Bhf reaffirmed an “outperform” rating on shares of Abivax in a report on Thursday, April 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Abivax in a report on Monday, April 20th. Citizens Jmp boosted their price objective on Abivax from $131.00 to $187.00 and gave the stock a “market outperform” rating in a research report on Tuesday, June 2nd. BTIG Research restated a “buy” rating and set a $150.00 price objective on shares of Abivax in a research report on Tuesday. Finally, Citigroup reiterated an “outperform” rating on shares of Abivax in a research report on Tuesday, June 2nd. Twelve analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $130.08.

Abivax Profile

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.