Spruce Street Capital LP Invests $6.62 Million in Abivax SA Sponsored ADR $ABVX

Spruce Street Capital LP bought a new stake in shares of Abivax SA Sponsored ADR (NASDAQ:ABVX) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 49,119 shares of the company’s stock, valued at approximately $6,624,000. Abivax accounts for approximately 2.2% of Spruce Street Capital LP’s portfolio, making the stock its 17th largest holding. Spruce Street Capital LP owned 0.06% of Abivax at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its position in shares of Abivax by 4,612.5% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 377 shares of the company’s stock valued at $32,000 after acquiring an additional 369 shares during the period. Bank of America Corp DE lifted its position in shares of Abivax by 56.1% during 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 period. Caitong International Asset Management Co. Ltd lifted its position in shares of Abivax by 661.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 396 shares of the company’s stock valued at $53,000 after acquiring an additional 344 shares during the period. WPG Advisers LLC lifted its position in shares of Abivax by 125.9% during the 4th quarter. WPG Advisers LLC now owns 454 shares of the company’s stock valued at $61,000 after acquiring an additional 253 shares during the period. Finally, Cubist Systematic Strategies LLC lifted its position in shares of Abivax by 34.3% during 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 period. Institutional investors and hedge funds own 47.91% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ABVX shares. Morgan Stanley dropped their price target on Abivax from $145.00 to $132.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Abivax in a research note on Monday, April 20th. Oddo Bhf reaffirmed an “outperform” rating on shares of Abivax in a research note on Thursday, April 9th. Barclays upped their price target on Abivax from $142.00 to $148.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 24th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Abivax in a research note on Tuesday, June 2nd. Twelve equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Abivax currently has a consensus rating of “Moderate Buy” and an average price target of $130.08.

Abivax Stock Performance

ABVX stock opened at $98.26 on Tuesday. The stock’s 50 day simple moving average is $115.61 and its 200 day simple moving average is $118.86. Abivax SA Sponsored ADR has a fifty-two week low of $5.69 and a fifty-two week high of $148.83. The company has a market cap of $7.84 billion, a P/E ratio of -18.86 and a beta of 0.69.

Abivax (NASDAQ:ABVX) last issued its quarterly earnings data on Friday, May 22nd. The company reported ($0.71) EPS for the quarter, topping the consensus estimate of ($0.94) by $0.23. The company had revenue of $1.56 million during the quarter, compared to analysts’ expectations of $0.40 million. Equities analysts predict that Abivax SA Sponsored ADR will post -3.4 earnings per share for the current 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.