Abivax (NASDAQ:ABVX) Sees Strong Trading Volume – Still a Buy?

Abivax SA Sponsored ADR (NASDAQ:ABVX) shares saw an uptick in trading volume on Friday . 1,377,206 shares changed hands during mid-day trading, an increase of 81% from the previous session’s volume of 760,198 shares.The stock last traded at $110.4280 and had previously closed at $100.90.

Analysts Set New Price Targets

Several equities research analysts recently commented on ABVX shares. JMP Securities boosted their price objective 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. Morgan Stanley increased their price target on shares of Abivax from $71.00 to $101.00 and gave the company an “overweight” rating in a research report on Friday, September 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Abivax in a research report on Wednesday, October 8th. Citigroup restated a “market outperform” rating on shares of Abivax in a research report on Tuesday, November 4th. Finally, Barclays assumed coverage on shares of Abivax in a report on Monday, October 13th. They issued an “overweight” rating and a $142.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $121.11.

Abivax Trading Up 8.3%

The firm has a market capitalization of $8.50 billion, a PE ratio of -62.93 and a beta of 0.38. The firm has a 50-day moving average of $91.27 and a two-hundred day moving average of $51.13.

Abivax (NASDAQ:ABVX) last released its quarterly earnings data on Monday, September 8th. The company reported ($0.86) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.90) by $0.04. Equities research analysts expect that Abivax SA Sponsored ADR will post -2.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Abivax

Institutional investors have recently modified their holdings of the stock. UBS Group AG raised its stake in Abivax by 2,561.0% during the third quarter. UBS Group AG now owns 4,461,262 shares of the company’s stock valued at $378,761,000 after buying an additional 4,293,606 shares in the last quarter. ADAR1 Capital Management LLC increased its holdings in shares of Abivax by 46.0% during the first quarter. ADAR1 Capital Management LLC now owns 2,210,019 shares of the company’s stock valued at $13,813,000 after purchasing an additional 696,626 shares during the period. Nantahala Capital Management LLC raised its position in shares of Abivax by 3.3% during the 1st quarter. Nantahala Capital Management LLC now owns 1,482,994 shares of the company’s stock worth $9,269,000 after buying an additional 46,947 shares in the last quarter. Octagon Capital Advisors LP boosted its stake in Abivax by 3.0% during the 2nd quarter. Octagon Capital Advisors LP now owns 1,267,000 shares of the company’s stock valued at $9,693,000 after purchasing an additional 37,000 shares in the last quarter. Finally, Allostery Investments LP grew its holdings in Abivax by 86.0% during the first quarter. Allostery Investments LP now owns 1,099,654 shares of the company’s stock worth $6,873,000 after acquiring an additional 508,401 shares during the period. Institutional investors and hedge funds own 47.91% of the company’s stock.

About Abivax

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.