Abivax (NASDAQ:ABVX) Trading Down 7.7% – Time to Sell?

Abivax SA Sponsored ADR (NASDAQ:ABVX) shares were down 7.7% on Wednesday . The stock traded as low as $95.53 and last traded at $90.8880. Approximately 170,481 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 1,433,131 shares. The stock had previously closed at $98.43.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Morgan Stanley reduced their target price on Abivax from $145.00 to $132.00 and set an “overweight” rating on the stock in a report on Tuesday, June 2nd. Oddo Bhf restated an “outperform” rating on shares of Abivax in a research note on Thursday, April 9th. BTIG Research restated a “buy” rating and issued a $150.00 price objective on shares of Abivax in a report on Tuesday, June 16th. Citizens Jmp lifted their price objective on Abivax from $131.00 to $187.00 and gave the company a “market outperform” rating in a research note on Tuesday, June 2nd. Finally, Jefferies Financial Group cut Abivax from a “buy” rating to a “hold” rating and decreased their target price for the stock from $160.00 to $90.00 in a report on Tuesday, June 2nd. Twelve research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $130.08.

Abivax Trading Down 5.8%

The firm has a market cap of $7.39 billion, a PE ratio of -17.90 and a beta of 0.69. The stock’s 50 day moving average price is $113.03 and its 200 day moving average price is $117.98.

Abivax (NASDAQ:ABVX) last announced its quarterly earnings results on Friday, May 22nd. The company reported ($0.71) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.94) by $0.23. The business had revenue of $1.56 million for the quarter, compared to analysts’ expectations of $0.40 million. Analysts forecast that Abivax SA Sponsored ADR will post -3.4 earnings per share for the current year.

Institutional Investors Weigh In On Abivax

Institutional investors and hedge funds have recently modified their holdings of the stock. TCG Crossover Management LLC raised its holdings in shares of Abivax by 17.4% during the 3rd quarter. TCG Crossover Management LLC now owns 7,111,596 shares of the company’s stock valued at $603,774,000 after buying an additional 1,055,000 shares during the period. UBS Group AG boosted its holdings in Abivax by 2,561.0% in the 3rd quarter. UBS Group AG now owns 4,461,262 shares of the company’s stock worth $378,761,000 after acquiring an additional 4,293,606 shares during the period. Darwin Global Management Ltd. boosted its holdings in Abivax by 0.4% in the 4th quarter. Darwin Global Management Ltd. now owns 3,178,501 shares of the company’s stock worth $439,714,000 after acquiring an additional 14,000 shares during the period. Morgan Stanley grew its position in Abivax by 114.3% in the fourth quarter. Morgan Stanley now owns 3,151,994 shares of the company’s stock valued at $425,062,000 after acquiring an additional 1,681,277 shares in the last quarter. Finally, Vestal Point Capital LP grew its position in Abivax by 90.0% in the fourth quarter. Vestal Point Capital LP now owns 1,900,000 shares of the company’s stock valued at $256,224,000 after acquiring an additional 900,000 shares in the last quarter. Hedge funds and other institutional investors own 47.91% of the company’s stock.

About Abivax

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.