Abivax (NASDAQ:ABVX) Price Target Lowered to $118.00 at Wedbush

Abivax (NASDAQ:ABVX) had its price objective cut by research analysts at Wedbush from $140.00 to $118.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Wedbush’s price target would indicate a potential upside of 14.06% from the company’s current price.

ABVX has been the topic of several other research reports. The Goldman Sachs Group began coverage on Abivax in a research note on Wednesday, September 9th. They set a “buy” rating and a $155.00 target price on the stock. Barclays reiterated an “overweight” rating and set a $148.00 price objective on shares of Abivax in a research report on Tuesday. Guggenheim reissued a “buy” rating on shares of Abivax in a report on Tuesday, June 30th. Piper Sandler upped their target price on shares of Abivax from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Finally, HC Wainwright reiterated a “buy” rating on shares of Abivax in a report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $157.00.

Abivax Price Performance

Shares of NASDAQ ABVX opened at $103.45 on Tuesday. The stock has a market cap of $9.04 billion, a PE ratio of -19.86 and a beta of 0.96. Abivax has a 1 year low of $69.81 and a 1 year high of $148.83. The firm has a fifty day moving average price of $120.76 and a 200-day moving average price of $117.67.

Abivax (NASDAQ:ABVX) last posted its quarterly earnings results on Monday, September 21st. The company reported ($1.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.79). The business had revenue of $1.37 million during the quarter, compared to analyst estimates of $0.80 million. On average, research analysts expect that Abivax will post -3.22 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. GHP Investment Advisors Inc. grew its position in shares of Abivax by 155.6% in the 1st quarter. GHP Investment Advisors Inc. now owns 230 shares of the company’s stock worth $26,000 after buying an additional 140 shares during the last quarter. Versant Capital Management Inc purchased a new stake in Abivax during the second quarter valued at approximately $30,000. Assetmark Inc. boosted its stake in Abivax by 41.5% in the first quarter. Assetmark Inc. now owns 886 shares of the company’s stock valued at $99,000 after acquiring an additional 260 shares in the last quarter. SmartHarvest Portfolios LLC boosted its stake in Abivax by 11.6% in the first quarter. SmartHarvest Portfolios LLC now owns 2,696 shares of the company’s stock valued at $300,000 after acquiring an additional 280 shares in the last quarter. Finally, Personal CFO Solutions LLC grew its holdings in Abivax by 10.5% in the first quarter. Personal CFO Solutions LLC now owns 3,027 shares of the company’s stock worth $337,000 after purchasing an additional 288 shares during the last quarter. Institutional investors own 47.91% of the company’s stock.

About Abivax

Abivax is a clinical-stage biotechnology company headquartered in Paris, France, focused on developing oral therapies for chronic inflammatory and immune-mediated diseases. Its lead investigational product is obefazimod, an oral small-molecule therapy designed to enhance the production of microRNA-124, a regulator of inflammatory pathways.

Obefazimod is being developed primarily for ulcerative colitis, a chronic inflammatory disease of the colon, and has also been evaluated in Crohn’s disease.