Abivax (NASDAQ:ABVX) Posts Earnings Results

Abivax (NASDAQ:ABVX) issued its quarterly earnings data on Friday. The company reported ($0.71) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.94) by $0.23, FiscalAI reports. The company had revenue of $1.56 million for the quarter, compared to the consensus estimate of $0.40 million.

Abivax Price Performance

Shares of Abivax stock traded down $2.04 on Friday, hitting $121.99. 1,150,383 shares of the company’s stock traded hands, compared to its average volume of 1,097,720. The firm’s 50-day moving average price is $117.55 and its two-hundred day moving average price is $118.96. The stock has a market capitalization of $9.72 billion, a PE ratio of -22.72 and a beta of 0.84. Abivax has a one year low of $5.59 and a one year high of $148.83.

Institutional Trading of Abivax

Several institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE increased its stake in shares of Abivax by 56.1% in the 4th quarter. Bank of America Corp DE now owns 5,536 shares of the company’s stock valued at $41,000 after acquiring an additional 1,990 shares during the last quarter. Cubist Systematic Strategies LLC increased its stake in shares of Abivax by 34.3% in the 1st quarter. Cubist Systematic Strategies LLC now owns 10,152 shares of the company’s stock valued at $63,000 after acquiring an additional 2,595 shares during the last quarter. Millennium Management LLC increased its position in shares of Abivax by 6.0% in the 1st quarter. Millennium Management LLC now owns 987,414 shares of the company’s stock valued at $6,171,000 after buying an additional 56,235 shares in the last quarter. Woodline Partners LP increased its position in shares of Abivax by 319.5% in the 1st quarter. Woodline Partners LP now owns 201,924 shares of the company’s stock valued at $1,262,000 after buying an additional 153,788 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Abivax in the 2nd quarter valued at $139,000. Institutional investors own 47.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ABVX shares. Wedbush started coverage on shares of Abivax in a research note on Tuesday, February 24th. They issued an “outperform” rating and a $110.00 target price for the company. BTIG Research reaffirmed a “buy” rating and issued a $150.00 price target on shares of Abivax in a report on Wednesday, February 25th. Jefferies Financial Group assumed coverage on Abivax in a report on Monday, March 16th. They issued a “buy” rating and a $160.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Abivax in a report on Monday, April 20th. Finally, Oddo Bhf reaffirmed an “outperform” rating on shares of Abivax in a report on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.15.

Abivax Company 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.