Abivax (NASDAQ:ABVX) Stock Price Up 9.3% on Analyst Upgrade

Abivax SA Sponsored ADR (NASDAQ:ABVX)’s stock price was up 9.3% on Thursday after Truist Financial raised their price target on the stock from $135.00 to $155.00. Truist Financial currently has a buy rating on the stock. Abivax traded as high as $142.32 and last traded at $144.8360. 799,124 shares changed hands during mid-day trading, a decline of 50% from the average daily volume of 1,582,796 shares. The stock had previously closed at $132.56.

ABVX has been the subject of several other research reports. HC Wainwright restated a “buy” rating on shares of Abivax in a research note on Tuesday. Citizens Jmp reiterated a “market outperform” rating and set a $187.00 price target on shares of Abivax in a research note on Wednesday. Citigroup reissued an “outperform” rating on shares of Abivax in a report on Tuesday, June 2nd. BTIG Research raised their price objective on shares of Abivax from $150.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Oddo Bhf reaffirmed an “outperform” rating on shares of Abivax in a report on Thursday, April 9th. Fourteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $146.00.

Trending Headlines about Abivax

Here are the key news stories impacting Abivax this week:

• Positive Sentiment: Truist Financial raised its price target on Abivax to $155 from $135 and kept a buy rating, implying additional upside from current levels. Truist raises Abivax price target
• Positive Sentiment: The company’s updated obefazimod trial data eased earlier safety fears, with investors viewing the malignancy findings as consistent with background rates in ulcerative colitis, helping fuel a sharp move higher in the shares. Abivax shares jump as updated trial data eases safety concerns
• Positive Sentiment: Jefferies upgraded Abivax to buy from hold and lifted its target to $158, while Citizens JMP reiterated market outperform with a $187 target, reinforcing bullish sentiment around the stock. Jefferies and Citizens JMP updates on Abivax
• Neutral Sentiment: Abivax completed the upsized sale of ADSs, with gross proceeds now totaling about $920 million after underwriters fully exercised their option, strengthening the balance sheet but also increasing share count. Abivax offering gross proceeds update
• Neutral Sentiment: The company also resumed trading on Euronext Paris after a temporary halt tied to the offering process. Abivax trading resumption
• Negative Sentiment: The large public offering and expanded fundraising may pressure the stock over time by diluting existing shareholders, even though it reduces financing risk and helps support the company’s pipeline. Abivax public offering pricing

Hedge Funds Weigh In On Abivax

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. UBS Group AG lifted its stake in shares of Abivax by 2,561.0% in the third quarter. UBS Group AG now owns 4,461,262 shares of the company’s stock valued at $378,761,000 after purchasing an additional 4,293,606 shares during the period. Darwin Global Management Ltd. acquired a new position in Abivax during the third quarter worth about $263,698,000. Morgan Stanley increased its holdings in Abivax by 114.3% in the fourth quarter. Morgan Stanley now owns 3,151,994 shares of the company’s stock valued at $425,062,000 after buying an additional 1,681,277 shares in the last quarter. Paradigm Biocapital Advisors LP purchased a new position in Abivax in the third quarter valued at about $132,800,000. Finally, TCG Crossover Management LLC lifted its position in shares of Abivax by 17.4% during the 3rd quarter. TCG Crossover Management LLC now owns 7,111,596 shares of the company’s stock valued at $603,774,000 after acquiring an additional 1,055,000 shares during the period. 47.91% of the stock is owned by institutional investors and hedge funds.

Abivax Stock Performance

The stock’s 50-day moving average price is $111.39 and its 200-day moving average price is $117.42. The company has a market capitalization of $11.55 billion, a price-to-earnings ratio of -27.66 and a beta of 0.88.

Abivax (NASDAQ:ABVX) last released its quarterly earnings results on Friday, May 22nd. The company reported ($0.71) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.94) by $0.23. The firm had revenue of $1.56 million during the quarter, compared to analyst estimates of $0.40 million. Analysts anticipate that Abivax SA Sponsored ADR will post -3.4 earnings per share for the current year.

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.