Abivax (NASDAQ:ABVX) Shares Down 4% – Here’s What Happened
by Teresa Graham · The Cerbat GemAbivax SA Sponsored ADR (NASDAQ:ABVX – Get Free Report)’s stock price fell 4% during trading on Tuesday . The stock traded as low as $134.26 and last traded at $134.80. 422,172 shares were traded during trading, a decline of 52% from the average session volume of 880,448 shares. The stock had previously closed at $140.40.
Analyst Ratings Changes
A number of analysts have recently commented on the company. Barclays assumed coverage on Abivax in a research note on Monday, October 13th. They issued an “overweight” rating and a $142.00 price objective on the stock. Truist Financial set a $140.00 price target on shares of Abivax in a report on Monday, November 24th. JMP Securities boosted their target price on shares of Abivax from $95.00 to $114.00 and gave the stock a “market outperform” rating in a report on Thursday, September 25th. Guggenheim restated a “buy” rating and set a $175.00 target price on shares of Abivax in a report on Thursday, December 18th. Finally, Wolfe Research raised Abivax to a “strong-buy” rating in a report on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Abivax has a consensus rating of “Moderate Buy” and a consensus price target of $128.73.
Abivax Stock Down 2.0%
The business has a fifty day moving average price of $114.53 and a two-hundred day moving average price of $78.02. The firm has a market cap of $10.72 billion, a PE ratio of -32.89 and a beta of 0.49. The company has a debt-to-equity ratio of 0.03, a current ratio of 7.86 and a quick ratio of 7.86.
Abivax (NASDAQ:ABVX – Get Free Report) last released its earnings results on Monday, December 15th. The company reported ($2.46) earnings per share for the quarter. The business had revenue of ($4.92) million during the quarter. On average, analysts anticipate that Abivax SA Sponsored ADR will post -2.83 EPS for the current fiscal year.
Hedge Funds Weigh In On Abivax
A number of hedge funds have recently modified their holdings of the stock. UBS Group AG grew its stake in Abivax by 2,561.0% in the third 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 in the last quarter. Darwin Global Management Ltd. bought a new stake in shares of Abivax in the 3rd quarter valued at approximately $263,698,000. Paradigm Biocapital Advisors LP bought a new stake in shares of Abivax in the 3rd quarter valued at approximately $132,800,000. Octagon Capital Advisors LP bought a new position in Abivax during the first quarter valued at approximately $7,688,000. Finally, TCG Crossover Management LLC lifted its stake in Abivax by 17.4% in the third quarter. TCG Crossover Management LLC now owns 7,111,596 shares of the company’s stock valued at $603,774,000 after acquiring an additional 1,055,000 shares during the last quarter. 47.91% of the stock is owned by institutional investors and hedge funds.
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.