Abivax Target of Unusually Large Options Trading (NASDAQ:ABVX)

Abivax SA Sponsored ADR (NASDAQ:ABVX) saw unusually large options trading activity on Tuesday. Traders purchased 3,575 call options on the company. This represents an increase of approximately 82% compared to the average daily volume of 1,967 call options.

Analysts Set New Price Targets

A number of brokerages have issued reports on ABVX. Guggenheim increased their target price on shares of Abivax from $101.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, October 10th. Wolfe Research raised Abivax to a “strong-buy” rating in a report on Thursday, November 6th. Citigroup reiterated a “market outperform” rating on shares of Abivax in a report on Tuesday, November 4th. JMP Securities upped their target price on Abivax from $95.00 to $114.00 and gave the company a “market outperform” rating in a report on Thursday, September 25th. Finally, Morgan Stanley raised their price objective on shares of Abivax from $71.00 to $101.00 and gave the stock an “overweight” rating in a research report on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $123.00.

Hedge Funds Weigh In On Abivax

Large investors have recently modified their holdings of the company. Kennedy Capital Management LLC raised its position in Abivax by 7.1% in the 2nd quarter. Kennedy Capital Management LLC now owns 241,188 shares of the company’s stock worth $1,845,000 after purchasing an additional 15,997 shares during the period. Quadrature Capital Ltd purchased a new position in Abivax in the 2nd quarter worth approximately $148,000. Octagon Capital Advisors LP bought a new position in shares of Abivax in the first quarter worth approximately $7,688,000. Saturn V Capital Management LP boosted its position in Abivax by 12.6% during the 2nd quarter. Saturn V Capital Management LP now owns 622,479 shares of the company’s stock valued at $4,762,000 after buying an additional 69,553 shares during the period. Finally, Affinity Asset Advisors LLC bought a new stake in Abivax in the 1st quarter worth $1,250,000. 47.91% of the stock is currently owned by institutional investors.

Abivax Stock Performance

NASDAQ:ABVX traded up $6.80 during trading on Tuesday, reaching $121.85. The company’s stock had a trading volume of 548,224 shares, compared to its average volume of 812,822. The firm has a market cap of $9.49 billion, a price-to-earnings ratio of -69.77 and a beta of 0.49. Abivax has a 12 month low of $4.77 and a 12 month high of $130.25. The firm has a 50 day moving average of $102.76 and a 200-day moving average of $65.13.

Abivax (NASDAQ:ABVX) last posted its quarterly earnings results on Monday, September 8th. The company reported ($0.86) earnings per share for the quarter, beating the consensus estimate of ($0.90) by $0.04. Equities research analysts forecast that Abivax will post -2.83 earnings per share for the current fiscal year.

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.