Abivax (NASDAQ:ABVX) Trading Down 5.9% – Should You Sell?

Abivax SA Sponsored ADR (NASDAQ:ABVX) shares fell 5.9% on Tuesday . The stock traded as low as $108.53 and last traded at $110.9940. 805,874 shares were traded during trading, a decline of 5% from the average session volume of 849,509 shares. The stock had previously closed at $117.91.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ABVX shares. Truist Financial set a $140.00 price objective on shares of Abivax in a research note on Monday, November 24th. JMP Securities lifted their price target on Abivax from $95.00 to $114.00 and gave the company a “market outperform” rating in a research note on Thursday, September 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Abivax in a report on Wednesday, October 8th. Citizens Jmp raised their target price on Abivax from $114.00 to $131.00 and gave the company a “market outperform” rating in a report on Tuesday. Finally, BTIG Research lifted their target price on Abivax from $112.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $123.73.

Abivax Price Performance

The firm has a fifty day moving average price of $106.88 and a 200-day moving average price of $69.34. The company has a market capitalization of $8.62 billion, a P/E ratio of -63.94 and a beta of 0.48.

Abivax (NASDAQ:ABVX) last announced its quarterly earnings data on Monday, December 15th. The company reported ($2.46) earnings per share (EPS) for the quarter. The business had revenue of ($4.92) million during the quarter. On average, research analysts forecast that Abivax SA Sponsored ADR will post -2.83 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. UBS Group AG raised its stake 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 valued at $378,761,000 after purchasing an additional 4,293,606 shares during the period. Darwin Global Management Ltd. bought a new position in Abivax in the 3rd quarter worth about $263,698,000. Paradigm Biocapital Advisors LP purchased a new position in Abivax during the 3rd quarter valued at about $132,800,000. Octagon Capital Advisors LP bought a new stake in shares of Abivax during the first quarter valued at about $7,688,000. Finally, TCG Crossover Management LLC lifted its holdings in shares of Abivax by 17.4% in the third quarter. TCG Crossover Management LLC now owns 7,111,596 shares of the company’s stock worth $603,774,000 after buying an additional 1,055,000 shares in the last quarter. 47.91% of the stock is currently owned by hedge funds and other institutional investors.

About Abivax

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.