Abivax (NASDAQ:ABVX) Shares Gap Up – Here’s Why

Shares of Abivax SA Sponsored ADR (NASDAQ:ABVX) gapped up before the market opened on Thursday . The stock had previously closed at $112.31, but opened at $120.24. Abivax shares last traded at $115.1680, with a volume of 1,415,214 shares changing hands.

Wall Street Analyst Weigh In

ABVX has been the topic of several recent research reports. Wedbush initiated coverage on Abivax in a research report on Tuesday, February 24th. They issued an “outperform” rating and a $110.00 price objective on the stock. Citizens Jmp lifted their target price on shares of Abivax from $114.00 to $131.00 and gave the company a “market outperform” rating in a report on Tuesday, December 16th. Truist Financial set a $140.00 target price on shares of Abivax in a research note on Monday, November 24th. Oppenheimer set a $131.00 price target on shares of Abivax in a report on Thursday, January 8th. Finally, Citigroup restated a “market outperform” rating on shares of Abivax in a research report on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $134.75.

Abivax Stock Performance

The company has a market capitalization of $9.13 billion, a price-to-earnings ratio of -27.63 and a beta of 1.00. The firm has a fifty day simple moving average of $118.99 and a 200 day simple moving average of $108.69. The company has a debt-to-equity ratio of 0.03, a current ratio of 7.86 and a quick ratio of 7.86.

Abivax (NASDAQ:ABVX) last announced its earnings results on Monday, December 15th. The company reported ($2.46) earnings per share for the quarter. The firm had revenue of ($4.92) million during the quarter. On average, analysts anticipate that Abivax SA Sponsored ADR will post -2.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Abivax

A number of large investors have recently added to or reduced their stakes in ABVX. Bank of America Corp DE grew its position in shares of Abivax by 56.1% in the fourth quarter. Bank of America Corp DE now owns 5,536 shares of the company’s stock valued at $41,000 after purchasing an additional 1,990 shares during the period. Cubist Systematic Strategies LLC increased its stake in shares of Abivax by 34.3% during the first quarter. Cubist Systematic Strategies LLC now owns 10,152 shares of the company’s stock worth $63,000 after purchasing an additional 2,595 shares in the last quarter. Millennium Management LLC raised its position in shares of Abivax by 6.0% during the 1st quarter. Millennium Management LLC now owns 987,414 shares of the company’s stock worth $6,171,000 after purchasing an additional 56,235 shares during the last quarter. Woodline Partners LP lifted its stake 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 buying an additional 153,788 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in Abivax in the 2nd quarter valued at about $139,000. 47.91% of the stock is currently owned by institutional investors and hedge funds.

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.