Abivax SA Sponsored ADR (NASDAQ:ABVX) Receives Average Recommendation of “Buy” from Brokerages

Shares of Abivax SA Sponsored ADR (NASDAQ:ABVX) have earned an average rating of “Buy” from the eight research firms that are currently covering the stock, MarketBeat reports. Seven analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $92.3333.

Several research analysts have recently commented on ABVX shares. Morgan Stanley raised Abivax from an “equal weight” rating to an “overweight” rating and set a $71.00 price target for the company in a research report on Wednesday, July 23rd. Lifesci Capital lifted their target price on Abivax from $45.00 to $101.00 and gave the company an “outperform” rating in a research note on Wednesday, July 23rd. Leerink Partners set a $74.00 price target on shares of Abivax and gave the company an “outperform” rating in a research report on Wednesday, July 23rd. Citigroup restated a “market outperform” rating on shares of Abivax in a report on Friday, July 18th. Finally, Piper Sandler boosted their price objective on shares of Abivax from $70.00 to $112.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th.

Abivax Stock Performance

Abivax stock opened at $74.43 on Friday. The business has a fifty day moving average of $35.28 and a two-hundred day moving average of $16.53. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.25 and a current ratio of 1.25. Abivax has a twelve month low of $4.77 and a twelve month high of $75.51.

Institutional Trading of Abivax

Several hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. purchased a new position in Abivax during the 4th quarter worth $5,336,000. Walleye Capital LLC grew its stake in shares of Abivax by 17.6% during the fourth quarter. Walleye Capital LLC now owns 302,642 shares of the company’s stock worth $2,215,000 after acquiring an additional 45,225 shares during the last quarter. Guggenheim Capital LLC purchased a new stake in shares of Abivax during the fourth quarter worth about $92,000. Boothbay Fund Management LLC acquired a new position in shares of Abivax during the fourth quarter valued at about $2,979,000. Finally, Nantahala Capital Management LLC raised its position in shares of Abivax by 45.7% in the 4th quarter. Nantahala Capital Management LLC now owns 1,436,047 shares of the company’s stock valued at $10,512,000 after purchasing an additional 450,413 shares during the last quarter. Hedge funds and other institutional investors own 47.91% of the company’s stock.

Abivax Company Profile

ABIVAX Société Anonyme, a clinical-stage biotechnology company, focuses on developing therapeutics that harness the body's natural regulatory mechanisms to stablize the immune response in patients with chronic inflammatory diseases. The company is evaluating its lead drug candidate, obefazimod, in Phase 3 clinical trials for the treatment of moderately to severely active ulcerative colitis in adults.