Abivax (NASDAQ:ABVX) Sees Large Volume Increase on Analyst Upgrade

Abivax SA Sponsored ADR (NASDAQ:ABVX) saw unusually-strong trading volume on Monday after Morgan Stanley raised their price target on the stock from $101.00 to $145.00. Morgan Stanley currently has an overweight rating on the stock. Approximately 2,646,946 shares changed hands during trading, an increase of 24% from the previous session’s volume of 2,126,757 shares.The stock last traded at $120.2010 and had previously closed at $114.40.

Several other research analysts have also weighed in on ABVX. Barclays started coverage on Abivax in a research report on Monday, October 13th. They issued an “overweight” rating and a $142.00 target price on the stock. Guggenheim reaffirmed a “buy” rating and set a $175.00 price objective on shares of Abivax in a research report on Thursday, December 18th. Truist Financial set a $140.00 target price on shares of Abivax in a research note on Monday, November 24th. Wolfe Research raised shares of Abivax to a “strong-buy” rating in a research report on Thursday, November 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Abivax in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $135.08.

Hedge Funds Weigh In On Abivax

Several hedge funds and other institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its stake in shares of Abivax by 4,612.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 377 shares of the company’s stock valued at $32,000 after purchasing an additional 369 shares in the last quarter. First Horizon Corp acquired a new stake in shares of Abivax during the third quarter worth approximately $36,000. Bank of America Corp DE raised its stake 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 valued at $41,000 after acquiring an additional 1,990 shares during the last quarter. Hantz Financial Services Inc. bought a new position in shares of Abivax in the third quarter valued at approximately $52,000. Finally, Cubist Systematic Strategies LLC grew its stake in shares of Abivax by 34.3% during the first 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 during the last quarter. Institutional investors own 47.91% of the company’s stock.

Abivax Stock Up 5.6%

The firm has a market cap of $9.41 billion, a price-to-earnings ratio of -28.42 and a beta of 0.68. The company has a debt-to-equity ratio of 0.03, a current ratio of 7.86 and a quick ratio of 7.86. The firm has a 50 day moving average price of $120.17 and a 200-day moving average price of $85.64.

Abivax (NASDAQ:ABVX) last announced its quarterly earnings results on Monday, December 15th. The company reported ($2.46) earnings per share (EPS) for the quarter. The business had revenue of ($4.92) million during the quarter. As a group, equities analysts predict that Abivax SA Sponsored ADR will post -2.83 EPS for the current fiscal 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.