Abivax (NASDAQ:ABVX) Issues Quarterly Earnings Results

Abivax (NASDAQ:ABVX) issued its quarterly earnings data on Friday. The company reported ($0.71) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.94) by $0.23, FiscalAI reports. The business had revenue of $1.56 million during the quarter, compared to the consensus estimate of $0.40 million.

Abivax Price Performance

Shares of NASDAQ ABVX traded down $2.04 during mid-day trading on Friday, hitting $121.99. The company had a trading volume of 1,150,383 shares, compared to its average volume of 1,097,720. The business’s 50-day simple moving average is $117.55 and its 200-day simple moving average is $118.96. Abivax has a 12 month low of $5.59 and a 12 month high of $148.83. The firm has a market cap of $9.72 billion, a P/E ratio of -22.72 and a beta of 0.84.

Institutional Investors Weigh In On Abivax

Several hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd lifted its position in Abivax by 661.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 396 shares of the company’s stock worth $53,000 after purchasing an additional 344 shares during the period. T. Rowe Price Investment Management Inc. bought a new position in Abivax in the fourth quarter worth $61,000. &PARTNERS bought a new position in Abivax in the fourth quarter worth $299,000. SmartHarvest Portfolios LLC bought a new position in Abivax in the fourth quarter worth $326,000. Finally, Fox Run Management L.L.C. bought a new position in Abivax during the fourth quarter worth about $339,000. Institutional investors own 47.91% of the company’s stock.

Wall Street Analyst Weigh In

ABVX has been the subject of a number of recent research reports. Wall Street Zen cut shares of Abivax from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. Wedbush started coverage on Abivax in a research report on Tuesday, February 24th. They set an “outperform” rating and a $110.00 target price for the company. Oddo Bhf reaffirmed an “outperform” rating on shares of Abivax in a research report on Thursday, April 9th. Barclays upped their target price on Abivax from $142.00 to $148.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 24th. Finally, Jefferies Financial Group assumed coverage on shares of Abivax in a report on Monday, March 16th. They set a “buy” rating and a $160.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Abivax presently has a consensus rating of “Moderate Buy” and an average 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.