Abivax SA Sponsored ADR $ABVX Stake Decreased by Cormorant Asset Management LP

Cormorant Asset Management LP lessened its holdings in shares of Abivax SA Sponsored ADR (NASDAQ:ABVX) by 30.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,350,000 shares of the company’s stock after selling 600,000 shares during the quarter. Abivax accounts for about 8.4% of Cormorant Asset Management LP’s investment portfolio, making the stock its 3rd largest holding. Cormorant Asset Management LP owned approximately 1.71% of Abivax worth $182,054,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of ABVX. EverSource Wealth Advisors LLC boosted its stake in shares of Abivax by 4,612.5% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 377 shares of the company’s stock valued at $32,000 after buying an additional 369 shares during the last quarter. Bank of America Corp DE lifted its stake in Abivax by 56.1% during the fourth quarter. Bank of America Corp DE now owns 5,536 shares of the company’s stock worth $41,000 after purchasing an additional 1,990 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in Abivax by 661.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 396 shares of the company’s stock worth $53,000 after purchasing an additional 344 shares during the last quarter. WPG Advisers LLC lifted its stake in Abivax by 125.9% during the fourth quarter. WPG Advisers LLC now owns 454 shares of the company’s stock worth $61,000 after purchasing an additional 253 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. bought a new stake in Abivax in the fourth quarter valued at $61,000. Institutional investors and hedge funds own 47.91% of the company’s stock.

Abivax Stock Up 2.7%

Shares of NASDAQ ABVX opened at $100.15 on Thursday. The business’s 50 day moving average is $114.81 and its two-hundred day moving average is $118.49. The company has a market cap of $7.99 billion, a P/E ratio of -19.22 and a beta of 0.69. Abivax SA Sponsored ADR has a 12 month low of $5.69 and a 12 month high of $148.83.

Abivax (NASDAQ:ABVX) last released its quarterly earnings data on Friday, May 22nd. The company reported ($0.71) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.94) by $0.23. The firm had revenue of $1.56 million for the quarter, compared to the consensus estimate of $0.40 million. Sell-side analysts expect that Abivax SA Sponsored ADR will post -3.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Oddo Bhf reissued an “outperform” rating on shares of Abivax in a report on Thursday, April 9th. Wedbush raised Abivax from an “underperform” rating to a “neutral” rating and lowered their target price for the stock from $110.00 to $90.00 in a report on Tuesday, June 2nd. Jefferies Financial Group cut Abivax from a “buy” rating to a “hold” rating and dropped their price target for the stock from $160.00 to $90.00 in a research note on Tuesday, June 2nd. Wall Street Zen raised Abivax from a “sell” rating to a “hold” rating in a research note on Saturday, May 23rd. Finally, Wolfe Research set a $136.00 price objective on Abivax in a research report on Wednesday, June 3rd. Twelve equities research 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $130.08.

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.