Readystate Asset Management LP Increases Stock Holdings in Abivax SA Sponsored ADR $ABVX

Readystate Asset Management LP raised its position in Abivax SA Sponsored ADR (NASDAQ:ABVX) by 19.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 241,530 shares of the company’s stock after acquiring an additional 39,508 shares during the quarter. Abivax comprises approximately 1.1% of Readystate Asset Management LP’s holdings, making the stock its 15th largest position. Readystate Asset Management LP’s holdings in Abivax were worth $32,186,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bank of America Corp DE lifted its position in shares of Abivax by 56.1% during the fourth quarter. Bank of America Corp DE now owns 5,536 shares of the company’s stock worth $41,000 after purchasing an additional 1,990 shares in the last quarter. Cubist Systematic Strategies LLC grew its holdings in shares of Abivax by 34.3% in the first quarter. Cubist Systematic Strategies LLC now owns 10,152 shares of the company’s stock valued at $63,000 after purchasing an additional 2,595 shares in the last quarter. Millennium Management LLC increased its stake in Abivax by 6.0% during the 1st quarter. Millennium Management LLC now owns 987,414 shares of the company’s stock worth $6,171,000 after buying an additional 56,235 shares during the period. Woodline Partners LP increased its stake in Abivax by 319.5% during the 1st quarter. Woodline Partners LP now owns 201,924 shares of the company’s stock worth $1,262,000 after buying an additional 153,788 shares during the period. Finally, XTX Topco Ltd acquired a new stake in Abivax during the 2nd quarter worth approximately $139,000. 47.91% of the stock is currently owned by hedge funds and other institutional investors.

Abivax Price Performance

Shares of NASDAQ:ABVX opened at $114.79 on Monday. Abivax SA Sponsored ADR has a fifty-two week low of $69.81 and a fifty-two week high of $148.83. The firm’s 50 day moving average price is $126.10 and its 200 day moving average price is $118.64. The stock has a market cap of $10.02 billion, a price-to-earnings ratio of -22.03 and a beta of 0.96.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Truist Financial raised their price target on shares of Abivax from $135.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Guggenheim reaffirmed a “buy” rating on shares of Abivax in a research report on Tuesday, June 30th. HC Wainwright reiterated a “buy” rating on shares of Abivax in a research note on Tuesday, June 30th. Jefferies Financial Group upgraded Abivax from a “hold” rating to a “buy” rating and lifted their target price for the company from $108.00 to $158.00 in a report on Tuesday, June 30th. Finally, Piper Sandler boosted their target price on Abivax from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Thirteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $156.50.

Abivax 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.