Abivax (NASDAQ:ABVX) Sees Large Volume Increase – Here’s What Happened

Abivax SA Sponsored ADR (NASDAQ:ABVX) saw unusually-high trading volume on Thursday . Approximately 956,903 shares traded hands during trading, a decline of 30% from the previous session’s volume of 1,368,668 shares.The stock last traded at $97.1860 and had previously closed at $90.15.

Analysts Set New Price Targets

ABVX has been the topic of a number of recent analyst reports. Citizens Jmp upped their price target on shares of Abivax from $131.00 to $187.00 and gave the company a “market outperform” rating in a research note on Tuesday. BTIG Research restated a “buy” rating and issued a $150.00 target price on shares of Abivax in a research report on Tuesday. Oddo Bhf restated an “outperform” rating on shares of Abivax in a report on Thursday, April 9th. Truist Financial decreased their price target on shares of Abivax from $140.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Jefferies Financial Group lowered shares of Abivax from a “buy” rating to a “hold” rating and lowered their price target for the stock from $160.00 to $90.00 in a research report on Tuesday. Twelve analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Abivax presently has a consensus rating of “Moderate Buy” and an average price target of $130.08.

Abivax Trading Up 7.0%

The company’s 50 day moving average is $117.10 and its 200 day moving average is $119.87. The stock has a market capitalization of $7.68 billion, a price-to-earnings ratio of -18.50 and a beta of 0.69.

Abivax (NASDAQ:ABVX) last issued its 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 firm had revenue of $1.56 million during the quarter, compared to analysts’ expectations of $0.40 million. Analysts anticipate that Abivax SA Sponsored ADR will post -3.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ABVX. GHP Investment Advisors Inc. raised its holdings in shares of Abivax by 155.6% during the first quarter. GHP Investment Advisors Inc. now owns 230 shares of the company’s stock valued at $26,000 after buying an additional 140 shares during the last quarter. WPG Advisers LLC boosted its position in Abivax by 125.9% during the 4th quarter. WPG Advisers LLC now owns 454 shares of the company’s stock worth $61,000 after acquiring an additional 253 shares during the period. Assetmark Inc. grew its stake in shares of Abivax by 41.5% in the first quarter. Assetmark Inc. now owns 886 shares of the company’s stock worth $99,000 after purchasing an additional 260 shares in the last quarter. SmartHarvest Portfolios LLC boosted its holdings in shares of Abivax by 11.6% in the first quarter. SmartHarvest Portfolios LLC now owns 2,696 shares of the company’s stock valued at $300,000 after acquiring an additional 280 shares in the last quarter. Finally, Personal CFO Solutions LLC increased its stake in Abivax by 10.5% in the 1st quarter. Personal CFO Solutions LLC now owns 3,027 shares of the company’s stock worth $337,000 after purchasing an additional 288 shares in the last quarter. 47.91% of the stock is currently owned by hedge funds and other institutional investors.

Abivax Company 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.