Perceptive Advisors LLC Lowers Holdings in Abivax SA Sponsored ADR $ABVX

Perceptive Advisors LLC lowered its stake in shares of Abivax SA Sponsored ADR (NASDAQ:ABVX) by 28.2% in the first quarter, HoldingsChannel reports. The fund owned 328,884 shares of the company’s stock after selling 129,459 shares during the quarter. Perceptive Advisors LLC’s holdings in Abivax were worth $36,621,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Avidity Partners Management LP purchased a new stake in Abivax in the first quarter valued at approximately $1,114,000. Bank of America Corp DE raised its stake in Abivax by 40.9% during the first quarter. Bank of America Corp DE now owns 735,729 shares of the company’s stock worth $81,923,000 after purchasing an additional 213,440 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Abivax by 31.6% in the 1st quarter. Janus Henderson Group PLC now owns 878,829 shares of the company’s stock valued at $98,007,000 after purchasing an additional 211,068 shares during the last quarter. Oddo BHF Asset Management Sas grew its stake in shares of Abivax by 2.7% during the 1st quarter. Oddo BHF Asset Management Sas now owns 81,496 shares of the company’s stock valued at $9,075,000 after buying an additional 2,146 shares during the period. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Abivax during the 1st quarter worth $278,000. 47.91% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ABVX has been the topic of a number of research analyst reports. Wedbush lifted their target price on Abivax from $90.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday, June 30th. Wolfe Research set a $136.00 price objective on Abivax in a report on Wednesday, June 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Abivax in a research note on Friday, July 17th. Citigroup reiterated an “outperform” rating on shares of Abivax in a report on Tuesday, June 2nd. Finally, BTIG Research lifted their price target on shares of Abivax from $150.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, June 30th. Thirteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $156.50.

Abivax Price Performance

NASDAQ:ABVX opened at $124.92 on Friday. The business’s 50-day moving average is $118.54 and its two-hundred day moving average is $118.41. The firm has a market capitalization of $10.90 billion, a PE ratio of -23.98 and a beta of 0.87. Abivax SA Sponsored ADR has a 12 month low of $67.09 and a 12 month high of $148.83.

Abivax (NASDAQ:ABVX) last issued its earnings results 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 during the quarter, compared to analysts’ expectations of $0.40 million. Equities analysts anticipate that Abivax SA Sponsored ADR will post -3.22 EPS for the current year.

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.