Abivax (NASDAQ:ABVX) Releases Quarterly Earnings Results, Beats Expectations By $1.00 EPS

Abivax (NASDAQ:ABVX) released its earnings results on Monday. The company reported ($1.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.24) by $1.00, reports. The firm had revenue of $1.45 million for the quarter, compared to analysts’ expectations of $1.80 million.

Abivax Stock Down 4.1%

ABVX opened at $115.42 on Tuesday. The firm has a 50-day simple moving average of $119.30 and a two-hundred day simple moving average of $110.77. Abivax has a 52 week low of $4.77 and a 52 week high of $148.83. The company has a market capitalization of $9.14 billion, a PE ratio of -27.61 and a beta of 1.01. The company has a quick ratio of 7.86, a current ratio of 7.86 and a debt-to-equity ratio of 0.03.

Institutional Investors Weigh In On Abivax

Hedge funds have recently made changes to their positions in the company. Harvey Capital Management Inc. bought a new position in Abivax during the fourth quarter valued at $445,000. Brooklyn Investment Group bought a new stake in shares of Abivax in the 4th quarter worth about $445,000. Fox Run Management L.L.C. bought a new stake in shares of Abivax in the 4th quarter worth about $339,000. SmartHarvest Portfolios LLC purchased a new position in shares of Abivax during the 4th quarter worth about $326,000. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of Abivax during the 3rd quarter worth about $320,000. 47.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ABVX has been the subject of a number of analyst reports. Jefferies Financial Group started coverage on Abivax in a research note on Monday, March 16th. They issued a “buy” rating and a $160.00 price target for the company. BTIG Research reaffirmed a “buy” rating and issued a $150.00 price objective on shares of Abivax in a research note on Wednesday, February 25th. Guggenheim reiterated a “buy” rating and set a $175.00 target price on shares of Abivax in a research report on Thursday, December 18th. Citigroup reissued a “market outperform” rating on shares of Abivax in a research note on Thursday, January 8th. Finally, Truist Financial set a $140.00 price target on Abivax in a research note on Monday, November 24th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $136.69.

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.