Wesbanco Bank Inc. Acquires New Position in Abivax SA Sponsored ADR $ABVX

Wesbanco Bank Inc. purchased a new position in shares of Abivax SA Sponsored ADR (NASDAQ:ABVX) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 5,000 shares of the company’s stock, valued at approximately $674,000.

A number of other large investors also recently bought and sold shares of ABVX. 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 worth $378,761,000 after purchasing an additional 4,293,606 shares during the period. Darwin Global Management Ltd. purchased a new position in Abivax during the third quarter worth approximately $263,698,000. Paradigm Biocapital Advisors LP purchased a new position in Abivax during the third quarter worth approximately $132,800,000. TCG Crossover Management LLC raised its stake in Abivax by 17.4% during the third quarter. TCG Crossover Management LLC now owns 7,111,596 shares of the company’s stock worth $603,774,000 after purchasing an additional 1,055,000 shares during the period. Finally, Vestal Point Capital LP purchased a new position in Abivax during the third quarter worth approximately $84,900,000. Hedge funds and other institutional investors own 47.91% of the company’s stock.

Abivax Stock Performance

Shares of ABVX stock opened at $122.74 on Monday. The company’s fifty day simple moving average is $116.69 and its 200-day simple moving average is $117.23. Abivax SA Sponsored ADR has a 52 week low of $5.59 and a 52 week high of $148.83. The company has a market cap of $9.73 billion, a PE ratio of -22.86 and a beta of 0.84.

Abivax (NASDAQ:ABVX) last issued its earnings results on Saturday, February 14th. The company reported ($1.20) EPS for the quarter. The firm had revenue of $0.52 million for the quarter. Equities research analysts expect that Abivax SA Sponsored ADR will post -3.84 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on ABVX. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Abivax in a research note on Monday, April 20th. Jefferies Financial Group began coverage on shares of Abivax in a research note on Monday, March 16th. They set a “buy” rating and a $160.00 price target on the stock. Barclays increased their price target on shares of Abivax from $142.00 to $148.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 24th. Wedbush began coverage on shares of Abivax in a research note on Tuesday, February 24th. They set an “outperform” rating and a $110.00 price target on the stock. Finally, BTIG Research reaffirmed a “buy” rating and set a $150.00 price target on shares of Abivax in a research note on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $137.15.

Abivax 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.