Abivax (NASDAQ:ABVX) Stock Price Expected to Rise, Wedbush Analyst Says

Abivax (NASDAQ:ABVX) had its price objective lifted by Wedbush from $90.00 to $110.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Wedbush’s price objective points to a potential upside of 14.40% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Citizens Jmp increased their target price on shares of Abivax from $131.00 to $187.00 and gave the company a “market outperform” rating in a research note on Tuesday, June 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Abivax in a research note on Monday, April 20th. Oddo Bhf reaffirmed an “outperform” rating on shares of Abivax in a report on Thursday, April 9th. Wall Street Zen upgraded Abivax from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Finally, Morgan Stanley decreased their price objective on Abivax from $145.00 to $132.00 and set an “overweight” rating on the stock in a report on Tuesday, June 2nd. Twelve analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Abivax presently has an average rating of “Moderate Buy” and a consensus target price of $133.54.

Abivax Trading Down 1.4%

Shares of ABVX stock opened at $96.15 on Tuesday. The firm has a market capitalization of $7.67 billion, a P/E ratio of -18.45 and a beta of 0.69. Abivax has a 1 year low of $7.41 and a 1 year high of $148.83. The firm’s fifty day simple moving average is $110.78 and its 200 day simple moving average is $117.38.

Abivax (NASDAQ:ABVX) last issued its quarterly earnings results on Friday, May 22nd. The company reported ($0.71) earnings per share 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 the consensus estimate of $0.40 million. Equities research analysts anticipate that Abivax will post -3.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Abivax

Institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its holdings 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 worth $41,000 after buying an additional 1,990 shares in the last quarter. Cubist Systematic Strategies LLC increased 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 purchasing an additional 2,595 shares in the last quarter. Millennium Management LLC raised its position in Abivax by 6.0% in the 1st quarter. Millennium Management LLC now owns 987,414 shares of the company’s stock valued at $6,171,000 after purchasing an additional 56,235 shares during the last quarter. Woodline Partners LP raised its position in Abivax by 319.5% in the 1st quarter. Woodline Partners LP now owns 201,924 shares of the company’s stock valued at $1,262,000 after purchasing an additional 153,788 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in Abivax in the second quarter worth $139,000. 47.91% of the stock is owned by institutional investors.

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.