Abivax (NASDAQ:ABVX) Releases Earnings Results, Beats Estimates By $1.04 EPS

Abivax (NASDAQ:ABVX) issued its quarterly earnings data on Monday. The company reported ($1.20) EPS for the quarter, beating the consensus estimate of ($2.24) by $1.04, FiscalAI reports. The firm had revenue of $1.45 million for the quarter, compared to analysts’ expectations of $1.79 million.

Abivax Stock Performance

ABVX stock opened at $109.48 on Friday. The firm has a market cap of $8.67 billion, a P/E ratio of -20.39 and a beta of 1.00. The firm’s fifty day moving average is $118.68 and its 200 day moving average is $110.91. Abivax has a 52 week low of $4.77 and a 52 week high of $148.83.

Institutional Trading of Abivax

Several institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE grew its stake in shares of Abivax by 56.1% during the fourth quarter. Bank of America Corp DE now owns 5,536 shares of the company’s stock valued at $41,000 after buying an additional 1,990 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of Abivax by 661.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 396 shares of the company’s stock valued at $53,000 after acquiring an additional 344 shares during the last quarter. T. Rowe Price Investment Management Inc. purchased a new stake in Abivax during the 4th quarter valued at about $61,000. Cubist Systematic Strategies LLC boosted its holdings in Abivax by 34.3% during the 1st quarter. Cubist Systematic Strategies LLC now owns 10,152 shares of the company’s stock valued at $63,000 after acquiring an additional 2,595 shares during the period. Finally, XTX Topco Ltd purchased a new stake in Abivax during the 2nd quarter valued at about $139,000. 47.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ABVX. Jefferies Financial Group initiated coverage on Abivax in a research report on Monday, March 16th. They set a “buy” rating and a $160.00 price target on the stock. Morgan Stanley upped their price objective on Abivax from $101.00 to $145.00 and gave the stock an “overweight” rating in a report on Friday, January 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Abivax in a research report on Wednesday, January 21st. BTIG Research reissued a “buy” rating and set a $150.00 price objective on shares of Abivax in a report on Wednesday, February 25th. Finally, Oppenheimer set a $131.00 price objective on Abivax in a report on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $137.15.

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.