Abivax (NASDAQ:ABVX) Reaches New 52-Week High – Should You Buy?

Shares of Abivax SA Sponsored ADR (NASDAQ:ABVX) hit a new 52-week high on Wednesday . The company traded as high as $137.00 and last traded at $134.6990, with a volume of 1586305 shares changing hands. The stock had previously closed at $123.04.

Wall Street Analyst Weigh In

ABVX has been the subject of a number of recent analyst reports. BTIG Research upped their target price on Abivax from $112.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Guggenheim upped their price objective on shares of Abivax from $101.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, October 10th. Citigroup reiterated a “market outperform” rating on shares of Abivax in a research note on Tuesday, November 4th. Barclays initiated coverage on shares of Abivax in a research report on Monday, October 13th. They set an “overweight” rating and a $142.00 target price for the company. Finally, Morgan Stanley raised their price target on Abivax from $71.00 to $101.00 and gave the company 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 issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Abivax presently has an average rating of “Moderate Buy” and an average price target of $123.00.

Abivax Stock Performance

The stock has a market capitalization of $10.62 billion, a price-to-earnings ratio of -78.43 and a beta of 0.49. The company’s 50 day moving average is $103.52 and its 200 day moving average is $65.96.

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

Hedge Funds Weigh In On Abivax

Several institutional investors and hedge funds have recently added to or reduced their stakes in ABVX. EverSource Wealth Advisors LLC raised its holdings in Abivax by 4,612.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 377 shares of the company’s stock valued at $32,000 after acquiring an additional 369 shares in the last quarter. First Horizon Corp bought a new stake in shares of Abivax during the third quarter valued at approximately $36,000. 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 valued at $41,000 after purchasing an additional 1,990 shares in the last quarter. Hantz Financial Services Inc. bought a new position in Abivax in the third quarter worth $52,000. Finally, Cubist Systematic Strategies LLC lifted its position in Abivax by 34.3% in the first quarter. Cubist Systematic Strategies LLC now owns 10,152 shares of the company’s stock worth $63,000 after purchasing an additional 2,595 shares during the period. 47.91% of the stock is currently owned by 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.