Abivax SA Sponsored ADR $ABVX Position Raised by Nan Fung Trinity HK Ltd.

Nan Fung Trinity HK Ltd. increased its stake in Abivax SA Sponsored ADR (NASDAQ:ABVX) by 280.3% during the third quarter, according to its most recent filing with the SEC. The fund owned 142,083 shares of the company’s stock after buying an additional 104,723 shares during the quarter. Abivax accounts for approximately 1.3% of Nan Fung Trinity HK Ltd.’s portfolio, making the stock its 29th largest holding. Nan Fung Trinity HK Ltd.’s holdings in Abivax were worth $14,069,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jefferies Financial Group Inc. increased its holdings in Abivax by 3,436.1% during the third quarter. Jefferies Financial Group Inc. now owns 168,705 shares of the company’s stock worth $16,705,000 after buying an additional 163,934 shares during the last quarter. Clear Wave Wealth Management LLC raised its position in Abivax by 26.2% in the third quarter. Clear Wave Wealth Management LLC now owns 2,979 shares of the company’s stock worth $295,000 after acquiring an additional 619 shares during the period. Pictet Asset Management Holding SA raised its position in Abivax by 4.6% in the third quarter. Pictet Asset Management Holding SA now owns 514,540 shares of the company’s stock worth $50,949,000 after acquiring an additional 22,472 shares during the period. CenterBook Partners LP boosted its stake in Abivax by 321.4% in the third quarter. CenterBook Partners LP now owns 142,496 shares of the company’s stock valued at $14,110,000 after acquiring an additional 108,685 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Abivax in the third quarter valued at about $3,200,000. 47.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on ABVX shares. The Goldman Sachs Group initiated coverage on shares of Abivax in a research report on Wednesday, September 9th. They set a “buy” rating and a $155.00 target price for the company. Barclays reaffirmed an “overweight” rating and issued a $148.00 price target on shares of Abivax in a report on Tuesday, September 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Abivax in a research note on Thursday, October 15th. Piper Sandler reiterated an “overweight” rating on shares of Abivax in a research note on Wednesday, October 21st. Finally, Truist Financial reduced their price objective on Abivax from $155.00 to $151.00 and set a “buy” rating for the company in a report on Tuesday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $155.00.

Abivax Stock Performance

Shares of ABVX opened at $90.20 on Friday. The business has a 50-day moving average of $95.37 and a 200 day moving average of $112.69. Abivax SA Sponsored ADR has a fifty-two week low of $69.81 and a fifty-two week high of $148.83. The firm has a market cap of $7.90 billion, a P/E ratio of -14.88 and a beta of 1.36.

Abivax (NASDAQ:ABVX) last announced its quarterly earnings data on Monday, September 21st. The company reported ($1.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.79). The company had revenue of $1.37 million during the quarter, compared to analyst estimates of $0.80 million. As a group, research analysts predict that Abivax SA Sponsored ADR will post -4.14 earnings per share for the current fiscal year.

About Abivax

Abivax is a clinical-stage biopharmaceutical company headquartered in Paris, France. It develops treatments for chronic inflammatory diseases, with a focus on therapies that regulate the body’s immune response. The company’s lead candidate, obefazimod (formerly known as ABX464), is an oral small molecule being studied for ulcerative colitis and other inflammatory conditions. It is designed to increase production of miR-124, a molecule involved in regulating inflammation. Founded in 2013, Abivax conducts clinical development internationally.