Abivax (NASDAQ:ABVX) Trading Down 7.7% – Time to Sell?

Shares of Abivax SA Sponsored ADR (NASDAQ:ABVX) traded down 7.7% on Wednesday . The stock traded as low as $95.53 and last traded at $90.8880. 170,481 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 1,433,131 shares. The stock had previously closed at $98.43.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Citigroup reaffirmed an “outperform” rating on shares of Abivax in a report on Tuesday, June 2nd. Citizens Jmp upped their price objective on shares of Abivax from $131.00 to $187.00 and gave the company a “market outperform” rating in a research report on Tuesday, June 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Abivax in a research note on Monday, April 20th. Barclays lifted their target price on Abivax from $142.00 to $148.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 24th. Finally, Wedbush upgraded Abivax from an “underperform” rating to a “neutral” rating and cut their price target for the stock from $110.00 to $90.00 in a research note on Tuesday, June 2nd. Twelve investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $130.08.

Abivax Price Performance

The stock has a market capitalization of $7.39 billion, a price-to-earnings ratio of -17.90 and a beta of 0.69. The firm’s fifty day moving average is $113.03 and its 200-day moving average is $117.98.

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

Hedge Funds Weigh In On Abivax

Hedge funds have recently added to or reduced their stakes in the business. GHP Investment Advisors Inc. boosted its holdings in shares of Abivax by 155.6% in the 1st quarter. GHP Investment Advisors Inc. now owns 230 shares of the company’s stock valued at $26,000 after buying an additional 140 shares during the period. EverSource Wealth Advisors LLC increased its position in Abivax by 4,612.5% in the third quarter. EverSource Wealth Advisors LLC now owns 377 shares of the company’s stock worth $32,000 after buying an additional 369 shares during the period. Bank of America Corp DE lifted its stake in 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 buying an additional 1,990 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Abivax by 661.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 396 shares of the company’s stock valued at $53,000 after acquiring an additional 344 shares during the period. Finally, WPG Advisers LLC grew its position in shares of Abivax by 125.9% during the fourth quarter. WPG Advisers LLC now owns 454 shares of the company’s stock worth $61,000 after acquiring an additional 253 shares during the last quarter. Institutional investors and hedge funds own 47.91% of the company’s stock.

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.