Abivax (NASDAQ:ABVX) Upgraded by Wedbush to Neutral Rating

Abivax (NASDAQ:ABVX) was upgraded by equities researchers at Wedbush from an “underperform” rating to a “neutral” rating in a note issued to investors on Tuesday, Marketbeat.com reports. The brokerage presently has a $90.00 price target on the stock. Wedbush’s target price points to a potential downside of 30.60% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Citigroup reiterated an “outperform” rating on shares of Abivax in a report on Tuesday. BTIG Research restated a “buy” rating and set a $150.00 target price on shares of Abivax in a report on Tuesday. Citizens Jmp restated a “market outperform” rating and set a $131.00 target price on shares of Abivax in a report on Tuesday, May 26th. Oddo Bhf reaffirmed an “outperform” rating on shares of Abivax in a research note on Thursday, April 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Abivax in a research report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Abivax has an average rating of “Moderate Buy” and an average target price of $130.23.

Abivax Trading Down 2.2%

Shares of Abivax stock opened at $129.69 on Tuesday. Abivax has a 12-month low of $5.69 and a 12-month high of $148.83. The stock has a market cap of $10.34 billion, a PE ratio of -24.89 and a beta of 0.69. The company has a 50-day moving average of $118.57 and a two-hundred day moving average of $120.16.

Abivax (NASDAQ:ABVX) last issued its quarterly earnings data on Friday, May 22nd. The company reported ($0.71) earnings per share for the quarter, topping 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, sell-side analysts forecast that Abivax will post -3.27 EPS for the current fiscal year.

Institutional Trading of Abivax

A number of institutional investors have recently made changes to their positions in the stock. UBS Group AG lifted its stake in Abivax by 2,561.0% during the third quarter. UBS Group AG now owns 4,461,262 shares of the company’s stock valued at $378,761,000 after purchasing an additional 4,293,606 shares during the last quarter. Darwin Global Management Ltd. acquired a new stake in Abivax during the third quarter valued at approximately $263,698,000. Morgan Stanley lifted its stake in Abivax by 114.3% during the fourth 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 acquired a new stake in Abivax during the third quarter valued at approximately $132,800,000. Finally, TCG Crossover Management LLC lifted its position in shares of Abivax by 17.4% in the 3rd quarter. TCG Crossover Management LLC now owns 7,111,596 shares of the company’s stock valued at $603,774,000 after acquiring an additional 1,055,000 shares in the last quarter. 47.91% of the stock is owned by institutional investors and hedge funds.

Abivax Company 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.