Lord Abbett & CO. LLC Increases Stake in Abivax SA Sponsored ADR $ABVX

Lord Abbett & CO. LLC raised its holdings in shares of Abivax SA Sponsored ADR (NASDAQ:ABVX) by 152.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 849,732 shares of the company’s stock after buying an additional 513,026 shares during the period. Lord Abbett & CO. LLC owned about 1.08% of Abivax worth $114,591,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ABVX. Bank of America Corp DE increased its holdings in Abivax by 56.1% during 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. Cubist Systematic Strategies LLC increased its holdings in 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 buying an additional 2,595 shares during the last quarter. Millennium Management LLC increased its holdings in Abivax by 6.0% during the first quarter. Millennium Management LLC now owns 987,414 shares of the company’s stock valued at $6,171,000 after buying an additional 56,235 shares during the last quarter. Woodline Partners LP increased its holdings in Abivax by 319.5% during the first quarter. Woodline Partners LP now owns 201,924 shares of the company’s stock valued at $1,262,000 after buying an additional 153,788 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in Abivax during the second quarter valued at approximately $139,000. 47.91% of the stock is owned by hedge funds and other institutional investors.

Abivax Price Performance

ABVX opened at $96.55 on Friday. The firm has a market cap of $7.69 billion, a P/E ratio of -18.53 and a beta of 0.69. Abivax SA Sponsored ADR has a 1-year low of $5.69 and a 1-year high of $148.83. The company has a 50 day simple moving average of $116.01 and a two-hundred day simple moving average of $119.12.

Abivax (NASDAQ:ABVX) last posted its quarterly earnings results on Friday, May 22nd. The company reported ($0.71) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.94) by $0.23. The firm had revenue of $1.56 million during the quarter, compared to the consensus estimate of $0.40 million. Equities analysts anticipate that Abivax SA Sponsored ADR will post -3.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ABVX shares. Wedbush raised shares of Abivax from an “underperform” rating to a “neutral” rating and reduced their target price for the company from $110.00 to $90.00 in a report on Tuesday, June 2nd. BTIG Research reaffirmed a “buy” rating and set a $150.00 target price on shares of Abivax in a report on Tuesday, June 2nd. Wall Street Zen raised shares of Abivax from a “sell” rating to a “hold” rating in a report on Saturday, May 23rd. Morgan Stanley dropped their price target on shares of Abivax from $145.00 to $132.00 and set an “overweight” rating for the company in a research report on Tuesday, June 2nd. Finally, Barclays upped their price target on shares of Abivax from $142.00 to $148.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 24th. Twelve analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $130.08.

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.