Abivax (NASDAQ:ABVX) Sees Large Volume Increase – Still a Buy?

Abivax SA Sponsored ADR (NASDAQ:ABVX) shares saw unusually-high trading volume on Thursday . Approximately 1,347,434 shares traded hands during trading, an increase of 75% from the previous session’s volume of 771,125 shares.The stock last traded at $123.3020 and had previously closed at $112.95.

Analysts Set New Price Targets

ABVX has been the topic of a number of research analyst reports. Wolfe Research raised shares of Abivax to a “strong-buy” rating in a research note on Thursday, November 6th. Wall Street Zen upgraded Abivax from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Piper Sandler increased their target price on Abivax from $70.00 to $112.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Leerink Partners set a $74.00 target price on Abivax and gave the company an “outperform” rating in a research report on Wednesday, July 23rd. Finally, Citigroup reissued a “market outperform” rating on shares of Abivax in a research report on Tuesday, November 4th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $121.11.

Abivax Stock Up 8.2%

The stock has a market capitalization of $9.52 billion, a PE ratio of -70.65 and a beta of 0.38. The stock has a fifty day moving average of $93.19 and a 200-day moving average of $54.39.

Abivax (NASDAQ:ABVX) last posted its quarterly earnings results on Monday, September 8th. The company reported ($0.86) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.04. Equities research analysts expect that Abivax SA Sponsored ADR will post -2.83 EPS for the current year.

Hedge Funds Weigh In On Abivax

Institutional investors and hedge funds have recently modified their holdings of the company. TCG Crossover Management LLC raised its stake in Abivax by 17.4% in the third 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 in the last quarter. UBS Group AG raised its position in shares of Abivax by 2,561.0% during 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 in the last quarter. Darwin Global Management Ltd. acquired a new position in Abivax in the third quarter valued at approximately $263,698,000. ADAR1 Capital Management LLC boosted its holdings in Abivax by 46.0% in the first quarter. ADAR1 Capital Management LLC now owns 2,210,019 shares of the company’s stock valued at $13,813,000 after purchasing an additional 696,626 shares in the last quarter. Finally, Paradigm Biocapital Advisors LP purchased a new position in Abivax in the third quarter valued at approximately $132,800,000. Institutional investors and hedge funds 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.