Abivax (NASDAQ:ABVX) Sets New 1-Year High – Time to Buy?

Shares of Abivax SA Sponsored ADR (NASDAQ:ABVX) hit a new 52-week high during trading on Monday . The company traded as high as $127.00 and last traded at $125.71, with a volume of 1791767 shares trading hands. The stock had previously closed at $119.12.

Analyst Ratings Changes

ABVX has been the topic of several recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Abivax in a research report on Wednesday, October 8th. Guggenheim increased their price objective on Abivax from $101.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, October 10th. JMP Securities lifted their target price on Abivax from $95.00 to $114.00 and gave the company a “market outperform” rating in a report on Thursday, September 25th. BTIG Research increased their price target on shares of Abivax from $112.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Finally, Truist Financial set a $140.00 price objective on shares of Abivax in a research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $123.00.

Abivax Price Performance

The business’s 50 day moving average is $96.35 and its two-hundred day moving average is $58.03.

Abivax (NASDAQ:ABVX) last issued its quarterly earnings results on Monday, September 8th. The company reported ($0.86) EPS for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.04. As a group, equities analysts anticipate that Abivax SA Sponsored ADR will post -2.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Abivax

Several institutional investors have recently modified their holdings of ABVX. Octagon Capital Advisors LP bought a new position in shares of Abivax during the first quarter valued at about $7,688,000. Affinity Asset Advisors LLC bought a new position in Abivax during the 1st quarter worth approximately $1,250,000. Allostery Investments LP increased its stake in Abivax by 86.0% in the 1st quarter. Allostery Investments LP now owns 1,099,654 shares of the company’s stock worth $6,873,000 after purchasing an additional 508,401 shares during the period. Aberdeen Group plc lifted its position in Abivax by 67.5% in the first quarter. Aberdeen Group plc now owns 710,516 shares of the company’s stock valued at $4,441,000 after purchasing an additional 286,335 shares during the last quarter. Finally, Paloma Partners Management Co purchased a new stake in shares of Abivax during the first quarter valued at approximately $240,000. 47.91% of the stock is currently owned by institutional investors.

About Abivax

ABIVAX Société Anonyme, a clinical-stage biotechnology company, focuses on developing therapeutics that harness the body's natural regulatory mechanisms to stablize the immune response in patients with chronic inflammatory diseases. The company is evaluating its lead drug candidate, obefazimod, in Phase 3 clinical trials for the treatment of moderately to severely active ulcerative colitis in adults.