Lord Abbett & CO. LLC Buys 513,026 Shares of Abivax SA Sponsored ADR $ABVX

Lord Abbett & CO. LLC increased its stake in shares of Abivax SA Sponsored ADR (NASDAQ:ABVX) by 152.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 849,732 shares of the company’s stock after purchasing an additional 513,026 shares during the period. Lord Abbett & CO. LLC’s holdings in Abivax were worth $114,591,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. WPG Advisers LLC boosted its position in shares of Abivax by 125.9% during the fourth quarter. WPG Advisers LLC now owns 454 shares of the company’s stock worth $61,000 after acquiring an additional 253 shares during the last quarter. EverSource Wealth Advisors LLC boosted 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 worth $32,000 after acquiring an additional 369 shares during the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of Abivax during the fourth quarter worth $67,000. Hantz Financial Services Inc. bought a new position in shares of Abivax during the third quarter worth $52,000. Finally, Assetmark Inc. bought a new position in shares of Abivax during the fourth quarter worth $84,000. Institutional investors own 47.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ABVX shares. BTIG Research restated a “buy” rating and set a $150.00 target price on shares of Abivax in a research report on Tuesday, June 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Abivax in a research note on Monday, April 20th. Citigroup reaffirmed an “outperform” rating on shares of Abivax in a research note on Tuesday, June 2nd. Oddo Bhf reaffirmed an “outperform” rating on shares of Abivax in a research note on Thursday, April 9th. Finally, Wedbush raised shares of Abivax from an “underperform” rating to a “neutral” rating and decreased their price target for the company from $110.00 to $90.00 in a research note on Tuesday, June 2nd. Twelve investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $130.08.

Abivax Stock Down 4.3%

Abivax stock opened at $96.55 on Friday. The company has a market cap of $7.69 billion, a price-to-earnings ratio of -18.53 and a beta of 0.69. The firm’s fifty day moving average is $116.01 and its 200 day moving average is $119.12. Abivax SA Sponsored ADR has a 52-week low of $5.69 and a 52-week high of $148.83.

Abivax (NASDAQ:ABVX) last released its quarterly earnings results on Friday, May 22nd. The company reported ($0.71) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.94) by $0.23. The business had revenue of $1.56 million for the quarter, compared to analysts’ expectations of $0.40 million. On average, equities research analysts anticipate that Abivax SA Sponsored ADR will post -3.4 earnings per share for the current fiscal year.

About Abivax

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.