Abivax (NASDAQ:ABVX) Reaches New 52-Week High – Here’s What Happened

by · The Markets Daily

Abivax SA Sponsored ADR (NASDAQ:ABVX – Get Free Report)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $137.00 and last traded at $134.6990, with a volume of 1586305 shares. The stock had previously closed at $123.04.

Analyst Ratings Changes

Several brokerages recently issued reports on ABVX. Wolfe Research raised Abivax to a “strong-buy” rating in a research report on Thursday, November 6th. Wall Street Zen raised Abivax from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Truist Financial set a $140.00 target price on shares of Abivax in a research report on Monday, November 24th. JMP Securities boosted their price target on shares of Abivax from $95.00 to $114.00 and gave the stock a “market outperform” rating in a research report on Thursday, September 25th. Finally, Morgan Stanley increased their price objective on shares of Abivax from $71.00 to $101.00 and gave the stock an “overweight” rating in a research report on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $123.00.

Read Our Latest Stock Analysis on ABVX

Abivax Stock Performance

The company has a market cap of $10.08 billion, a P/E ratio of -75.17 and a beta of 0.48. The firm’s 50 day moving average price is $105.43 and its two-hundred day moving average price is $66.85.

Abivax (NASDAQ:ABVX – Get Free Report) last posted its quarterly earnings results on Monday, September 8th. The company reported ($0.86) EPS for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.04. As a group, analysts forecast that Abivax SA Sponsored ADR will post -2.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ABVX. TCG Crossover Management LLC boosted its holdings in Abivax by 17.4% in the third quarter. TCG Crossover Management LLC now owns 7,111,596 shares of the company’s stock worth $603,774,000 after acquiring an additional 1,055,000 shares in the last quarter. UBS Group AG grew its position in Abivax by 2,561.0% in the 3rd quarter. UBS Group AG now owns 4,461,262 shares of the company’s stock valued at $378,761,000 after purchasing an additional 4,293,606 shares during the period. Darwin Global Management Ltd. acquired a new position in Abivax during the third quarter worth $263,698,000. ADAR1 Capital Management LLC lifted its stake in shares of Abivax by 46.0% in the first quarter. ADAR1 Capital Management LLC now owns 2,210,019 shares of the company’s stock valued at $13,813,000 after buying an additional 696,626 shares in the last quarter. Finally, Paradigm Biocapital Advisors LP bought a new stake in shares of Abivax during the third quarter worth about $132,800,000. 47.91% of the stock is owned by institutional investors and hedge funds.

Abivax Company Profile

(Get Free Report)

ABIVAX Société Anonyme, a clinical-stage biotechnology company, focuses on developing therapeutics that harness the body's natural regulatory mechanisms to stablize the immune response in patients with chronic inflammatory diseases. The company is evaluating its lead drug candidate, obefazimod, in Phase 3 clinical trials for the treatment of moderately to severely active ulcerative colitis in adults.

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