Abivax (NASDAQ:ABVX) Issues Earnings Results

Abivax (NASDAQ:ABVX) released its quarterly earnings results on Monday. The company reported ($1.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.24) by $1.00, reports. The business had revenue of $1.47 million for the quarter, compared to analysts’ expectations of $1.80 million.

Abivax Stock Down 4.1%

Shares of Abivax stock traded down $4.92 during trading on Monday, reaching $115.42. The company’s stock had a trading volume of 1,286,406 shares, compared to its average volume of 1,205,699. Abivax has a 1-year low of $4.77 and a 1-year high of $148.83. The company has a 50-day simple moving average of $119.35 and a two-hundred day simple moving average of $110.56. The company has a quick ratio of 7.86, a current ratio of 7.86 and a debt-to-equity ratio of 0.03. The company has a market cap of $9.14 billion, a price-to-earnings ratio of -27.61 and a beta of 1.01.

Analysts Set New Price Targets

ABVX has been the subject of several research reports. Oppenheimer set a $131.00 price objective on Abivax in a report on Thursday, January 8th. Citigroup reissued a “market outperform” rating on shares of Abivax in a research report on Thursday, January 8th. Truist Financial set a $140.00 price target on Abivax in a research note on Monday, November 24th. Wedbush initiated coverage on shares of Abivax in a research note on Tuesday, February 24th. They issued an “outperform” rating and a $110.00 price objective for the company. Finally, BTIG Research reiterated a “buy” rating and set a $150.00 target price on shares of Abivax in a report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Abivax has an average rating of “Moderate Buy” and an average price target of $136.69.

Institutional Investors Weigh In On Abivax

A number of institutional investors and hedge funds have recently modified their holdings of ABVX. Bank of America Corp DE raised its position 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 acquiring an additional 1,990 shares during the period. Cubist Systematic Strategies LLC increased its stake in shares of Abivax by 34.3% in the 1st quarter. Cubist Systematic Strategies LLC now owns 10,152 shares of the company’s stock valued at $63,000 after purchasing an additional 2,595 shares in the last quarter. Millennium Management LLC increased its stake in shares of Abivax by 6.0% in the 1st quarter. Millennium Management LLC now owns 987,414 shares of the company’s stock valued at $6,171,000 after purchasing an additional 56,235 shares in the last quarter. Woodline Partners LP raised its holdings in Abivax by 319.5% in the 1st quarter. Woodline Partners LP now owns 201,924 shares of the company’s stock worth $1,262,000 after purchasing an additional 153,788 shares during the period. Finally, XTX Topco Ltd purchased a new position in Abivax during the second quarter worth approximately $139,000. Institutional investors and hedge funds own 47.91% of the company’s stock.

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.