676,589 Shares of Abivax SA Sponsored ADR $ABVX Acquired by Two Seas Capital LP

Two Seas Capital LP bought a new position in Abivax SA Sponsored ADR (NASDAQ:ABVX) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 676,589 shares of the company’s stock, valued at approximately $66,996,000. Abivax comprises approximately 0.8% of Two Seas Capital LP’s holdings, making the stock its 14th largest holding.

A number of other institutional investors have also recently made changes to their positions in ABVX. Engineers Gate Manager LP bought a new stake in shares of Abivax during the second quarter valued at approximately $284,000. Readystate Asset Management LP boosted its stake in Abivax by 19.6% during the 2nd quarter. Readystate Asset Management LP now owns 241,530 shares of the company’s stock valued at $32,186,000 after purchasing an additional 39,508 shares during the last quarter. Troluce Capital Advisors LLC bought a new stake in shares of Abivax in the 2nd quarter worth $133,000. Seven Fleet Capital Management LP raised its stake in shares of Abivax by 158.6% in the second quarter. Seven Fleet Capital Management LP now owns 111,334 shares of the company’s stock worth $14,836,000 after purchasing an additional 68,282 shares during the last quarter. Finally, FNY Investment Advisers LLC raised its stake in shares of Abivax by 7.3% in the second quarter. FNY Investment Advisers LLC now owns 7,605 shares of the company’s stock worth $1,013,000 after purchasing an additional 519 shares during the last quarter. Hedge funds and other institutional investors own 47.91% of the company’s stock.

Abivax Trading Down 3.8%

ABVX stock traded down $3.51 during midday trading on Tuesday, reaching $88.22. 2,000,515 shares of the company’s stock traded hands, compared to its average volume of 1,434,733. Abivax SA Sponsored ADR has a 52-week low of $69.81 and a 52-week high of $148.83. The stock has a market cap of $7.71 billion, a P/E ratio of -14.56 and a beta of 1.14. The stock’s 50-day moving average is $113.28 and its 200 day moving average is $116.22.

Abivax (NASDAQ:ABVX) last issued its quarterly earnings results on Monday, September 21st. The company reported ($1.71) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.79). The firm had revenue of $1.37 million for the quarter, compared to analyst estimates of $0.80 million. As a group, research analysts expect that Abivax SA Sponsored ADR will post -4.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ABVX. Weiss Ratings reissued a “sell (d-)” rating on shares of Abivax in a research report on Friday, July 17th. Jefferies Financial Group upgraded shares of Abivax from a “hold” rating to a “buy” rating and boosted their target price for the company from $108.00 to $158.00 in a research note on Tuesday, June 30th. Wall Street Zen cut Abivax from a “hold” rating to a “sell” rating in a report on Saturday, September 26th. Leerink Partners lifted their price objective on Abivax from $140.00 to $148.00 and gave the stock an “outperform” rating in a report on Tuesday, June 30th. Finally, The Goldman Sachs Group started coverage on Abivax in a research report on Wednesday, September 9th. They set a “buy” rating and a $155.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $156.69.

Abivax Company Profile

Abivax is a clinical-stage biotechnology company focused on developing therapeutics for chronic inflammatory and immune-mediated diseases. The company’s lead investigational product is obefazimod, an oral small-molecule treatment being developed for ulcerative colitis, a chronic inflammatory disease of the colon.

Obefazimod, formerly known as ABX464, is designed to increase levels of microRNA-124, a molecule involved in regulating inflammatory responses. Abivax is evaluating the therapy in late-stage clinical studies for ulcerative colitis and has also investigated its potential in other inflammatory conditions, including Crohn’s disease.

Founded in 2013 and headquartered in Paris, France, Abivax conducts its development activities through international clinical programs and serves the global biopharmaceutical market.