Readystate Asset Management LP Grows Position in Abivax SA Sponsored ADR $ABVX

Readystate Asset Management LP grew its position in shares of Abivax SA Sponsored ADR (NASDAQ:ABVX) by 111.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 202,022 shares of the company’s stock after acquiring an additional 106,293 shares during the quarter. Abivax comprises approximately 1.0% of Readystate Asset Management LP’s holdings, making the stock its 21st largest holding. Readystate Asset Management LP owned 0.25% of Abivax worth $22,495,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ABVX. UBS Group AG grew its position in Abivax by 2,561.0% in the third 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. Morgan Stanley increased its position in shares of Abivax by 114.3% during the 4th quarter. Morgan Stanley now owns 3,151,994 shares of the company’s stock valued at $425,062,000 after purchasing an additional 1,681,277 shares during the last quarter. Paradigm Biocapital Advisors LP bought a new position in shares of Abivax during the 3rd quarter valued at approximately $132,800,000. TCG Crossover Management LLC raised its holdings in Abivax by 17.4% during the 3rd 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 during the period. Finally, Westfield Capital Management Co. LP purchased a new stake in Abivax during the 4th quarter valued at $136,199,000. 47.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ABVX has been the subject of a number of recent analyst reports. Guggenheim reaffirmed a “buy” rating on shares of Abivax in a research note on Tuesday, June 30th. Morgan Stanley reissued an “overweight” rating and issued a $180.00 price objective on shares of Abivax in a research note on Friday. Citigroup restated an “outperform” rating on shares of Abivax in a research report on Tuesday, June 2nd. Wedbush upped their target price on Abivax from $90.00 to $110.00 and gave the company a “neutral” rating in a research note on Tuesday, June 30th. Finally, HC Wainwright reiterated a “buy” rating on shares of Abivax in a report on Tuesday, June 30th. Thirteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $156.50.

Abivax Price Performance

Shares of ABVX stock opened at $124.23 on Wednesday. The company has a market capitalization of $10.84 billion, a P/E ratio of -23.84 and a beta of 0.87. The company’s 50-day simple moving average is $118.49 and its two-hundred day simple moving average is $118.27. Abivax SA Sponsored ADR has a one year low of $66.11 and a one year high of $148.83.

Abivax (NASDAQ:ABVX) last posted its quarterly earnings results on Friday, May 22nd. The company reported ($0.71) earnings per share for the quarter, beating the consensus estimate of ($0.94) by $0.23. The company had revenue of $1.56 million for the quarter, compared to the consensus estimate of $0.40 million. On average, research analysts expect that Abivax SA Sponsored ADR will post -3.22 EPS 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.