Pictet Asset Management Holding SA Sells 20,904 Shares of Abivax SA Sponsored ADR $ABVX

Pictet Asset Management Holding SA trimmed its stake in shares of Abivax SA Sponsored ADR (NASDAQ:ABVX) by 16.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 103,545 shares of the company’s stock after selling 20,904 shares during the period. Pictet Asset Management Holding SA’s holdings in Abivax were worth $11,202,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of ABVX. GHP Investment Advisors Inc. lifted its stake in Abivax by 155.6% in the 1st quarter. GHP Investment Advisors Inc. now owns 230 shares of the company’s stock worth $26,000 after purchasing an additional 140 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Abivax by 4,612.5% during the third quarter. EverSource Wealth Advisors LLC now owns 377 shares of the company’s stock valued at $32,000 after purchasing an additional 369 shares in the last quarter. Bank of America Corp DE increased its holdings 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 worth $41,000 after purchasing an additional 1,990 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in shares of 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 last quarter. Finally, WPG Advisers LLC lifted its position in shares of Abivax by 125.9% in the fourth quarter. WPG Advisers LLC now owns 454 shares of the company’s stock worth $61,000 after buying an additional 253 shares in the last quarter. 47.91% of the stock is currently owned by institutional investors.

Abivax News Summary

Here are the key news stories impacting Abivax this week:

• Positive Sentiment: Abivax completed a major ADS offering and fully exercised the underwriters’ option, lifting gross proceeds to about $920 million, which strengthens its balance sheet and reduces near-term financing risk. Article Title
• Positive Sentiment: Truist raised its price target on ABVX to $155 from $135 and reiterated a buy rating, signaling confidence that the shares still have room to run. Article Title
• Positive Sentiment: Market coverage noted that shares continued climbing after the biotech firm moved to bolster its balance sheet, with investor appetite supported by positive clinical-trial data. Article Title
• Neutral Sentiment: Bullish commentary on a stock-picking Substack highlighted ABVX as a potential buy, adding to the recent positive investor narrative. Article Title
• Neutral Sentiment: Some coverage also warned that ABVX may look expensive even after its strong trial progress, which could temper enthusiasm if the valuation becomes harder to justify. Article Title

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ABVX shares. Wedbush raised their price target on Abivax from $90.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday. Leerink Partners upped their price objective on Abivax from $140.00 to $148.00 and gave the stock an “outperform” rating in a report on Tuesday. Oddo Bhf reiterated an “outperform” rating on shares of Abivax in a research report on Thursday, April 9th. Jefferies Financial Group raised shares of Abivax from a “hold” rating to a “buy” rating and raised their target price for the company from $108.00 to $158.00 in a report on Tuesday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Abivax in a research report on Monday, April 20th. Fourteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $146.00.

Abivax Stock Performance

Shares of NASDAQ:ABVX opened at $144.65 on Friday. The company has a market cap of $11.54 billion, a price-to-earnings ratio of -27.76 and a beta of 0.87. Abivax SA Sponsored ADR has a 12 month low of $7.64 and a 12 month high of $148.83. The company has a 50-day moving average price of $112.63 and a 200 day moving average price of $117.74.

Abivax (NASDAQ:ABVX) last issued its quarterly earnings data on Friday, May 22nd. The company reported ($0.71) earnings per share for the quarter, topping the consensus estimate of ($0.94) by $0.23. The company had revenue of $1.56 million for the quarter, compared to the consensus estimate of $0.40 million. As a group, equities analysts forecast that Abivax SA Sponsored ADR will post -3.4 EPS for the current year.

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.