Royal Bank of Canada Trims Stock Position in Abivax SA Sponsored ADR $ABVX

Royal Bank of Canada lessened its stake in Abivax SA Sponsored ADR (NASDAQ:ABVX) by 51.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 15,123 shares of the company’s stock after selling 15,744 shares during the quarter. Royal Bank of Canada’s holdings in Abivax were worth $1,684,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Nan Fung Trinity HK Ltd. raised its position in Abivax by 11.8% during the fourth quarter. Nan Fung Trinity HK Ltd. now owns 113,365 shares of the company’s stock valued at $15,288,000 after acquiring an additional 12,000 shares in the last quarter. Total Clarity Wealth Management Inc. purchased a new stake in Abivax in the 4th quarter worth approximately $1,247,000. Brummer Multi Strategy AB purchased a new stake in Abivax in the 4th quarter worth approximately $1,939,000. Jennison Associates LLC acquired a new stake in shares of Abivax during the 4th quarter worth approximately $17,249,000. Finally, Candriam S.C.A. acquired a new stake in shares of Abivax during the 1st quarter worth approximately $4,015,000. Hedge funds and other institutional investors own 47.91% of the company’s stock.

Analyst Upgrades and Downgrades

ABVX has been the subject of several recent research reports. BTIG Research lifted their target price on shares of Abivax from $150.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, June 30th. Citigroup restated an “outperform” rating on shares of Abivax in a research report on Tuesday, June 2nd. Truist Financial lifted their price objective on shares of Abivax from $135.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Morgan Stanley reiterated an “overweight” rating and issued a $180.00 price objective on shares of Abivax in a research report on Friday, July 24th. Finally, Piper Sandler raised their target price on Abivax from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Thirteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $156.50.

Abivax Price Performance

Shares of ABVX stock opened at $118.94 on Wednesday. The company has a market cap of $10.38 billion, a price-to-earnings ratio of -22.83 and a beta of 1.03. The stock has a 50 day simple moving average of $121.59 and a 200-day simple moving average of $118.85. Abivax SA Sponsored ADR has a 1-year low of $67.15 and a 1-year high of $148.83.

Abivax (NASDAQ:ABVX) last released its quarterly earnings results on Friday, May 22nd. The company reported ($0.71) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.94) by $0.23. The company had revenue of $1.56 million during the quarter, compared to analyst estimates of $0.40 million. Analysts anticipate that Abivax SA Sponsored ADR will post -3.22 earnings per share for the current fiscal 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.