32,321 Shares in Abivax SA Sponsored ADR $ABVX Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in Abivax SA Sponsored ADR (NASDAQ:ABVX) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 32,321 shares of the company’s stock, valued at approximately $3,200,000.

Several other hedge funds also recently modified their holdings of the company. Eversept Partners LP increased its holdings in Abivax by 42.0% in the 1st quarter. Eversept Partners LP now owns 934,423 shares of the company’s stock worth $104,048,000 after purchasing an additional 276,589 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Abivax by 31.6% during the first quarter. Janus Henderson Group PLC now owns 878,829 shares of the company’s stock worth $98,007,000 after purchasing an additional 211,068 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Abivax by 40.9% in the first quarter. Bank of America Corp DE now owns 735,729 shares of the company’s stock valued at $81,923,000 after buying an additional 213,440 shares during the period. Two Seas Capital LP bought a new position in Abivax in the 3rd quarter valued at approximately $66,996,000. Finally, Orbimed Advisors LLC raised its holdings in Abivax by 26.6% in the 1st quarter. Orbimed Advisors LLC now owns 465,700 shares of the company’s stock valued at $51,856,000 after buying an additional 97,800 shares during the last quarter. Institutional investors and hedge funds own 47.91% of the company’s stock.

Abivax Stock Performance

Abivax stock traded up $1.55 during mid-day trading on Friday, reaching $85.73. The stock had a trading volume of 827,191 shares, compared to its average volume of 1,072,878. The firm has a market capitalization of $7.51 billion, a PE ratio of -14.15 and a beta of 1.36. Abivax SA Sponsored ADR has a fifty-two week low of $69.81 and a fifty-two week high of $148.83. The stock’s 50-day simple moving average is $97.20 and its 200-day simple moving average is $113.33.

Abivax (NASDAQ:ABVX) last posted its earnings results on Monday, September 21st. The company reported ($1.71) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.79). The firm had revenue of $1.37 million for the quarter, compared to the consensus estimate of $0.80 million. On average, research analysts forecast that Abivax SA Sponsored ADR will post -4.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ABVX. Wedbush cut their price target on shares of Abivax from $118.00 to $96.00 and set a “neutral” rating on the stock in a report on Wednesday, October 21st. Wall Street Zen downgraded Abivax from a “hold” rating to a “sell” rating in a report on Saturday, September 26th. The Goldman Sachs Group initiated coverage on Abivax in a research report on Wednesday, September 9th. They set a “buy” rating and a $155.00 target price for the company. Truist Financial cut their target price on Abivax from $155.00 to $151.00 and set a “buy” rating on the stock in a report on Tuesday, September 22nd. Finally, Guggenheim reiterated a “buy” rating and issued a $175.00 price target on shares of Abivax in a research report on Tuesday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Abivax presently has an average rating of “Moderate Buy” and a consensus target price of $155.00.

Abivax Profile

Abivax SA (NASDAQ: ABVX) is a clinical-stage biotechnology company focused on developing therapeutics for chronic inflammatory and immune-mediated diseases. Headquartered in Paris, France, the company conducts research and clinical development aimed at addressing conditions with significant unmet medical needs.

Abivax’s lead investigational product is obefazimod, an oral small-molecule therapy designed to selectively increase levels of microRNA-124, a regulatory molecule involved in controlling inflammatory responses.