Elevation Point Wealth Partners LLC Invests $638,000 in Abivax SA Sponsored ADR $ABVX

Elevation Point Wealth Partners LLC bought a new position in Abivax SA Sponsored ADR (NASDAQ:ABVX) during the 1st quarter, Holdings Channel reports. The firm bought 5,730 shares of the company’s stock, valued at approximately $638,000.

A number of other large investors have also bought and sold shares of ABVX. Pinnacle Wealth Management Advisory Group LLC bought a new position in Abivax in the 1st quarter valued at $208,000. Cannon Global Investment Management LLC increased its stake in shares of Abivax by 175.0% in the first quarter. Cannon Global Investment Management LLC now owns 6,000 shares of the company’s stock valued at $668,000 after buying an additional 3,818 shares in the last quarter. GHP Investment Advisors Inc. raised its holdings in shares of Abivax by 155.6% in the first quarter. GHP Investment Advisors Inc. now owns 230 shares of the company’s stock valued at $26,000 after buying an additional 140 shares during the last quarter. SmartHarvest Portfolios LLC raised its holdings in shares of 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 buying an additional 280 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in Abivax during the 1st quarter worth about $326,000. 47.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Jefferies Financial Group upgraded shares of Abivax from a “hold” rating to a “buy” rating and raised their price objective for the company from $108.00 to $158.00 in a research report on Tuesday, June 30th. Barclays increased their price target on shares of Abivax from $142.00 to $148.00 and gave the company an “overweight” rating in a research note on Tuesday, March 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Abivax in a research report on Monday, April 20th. Wolfe Research set a $136.00 price objective on Abivax in a research report on Wednesday, June 3rd. Finally, Citigroup reissued an “outperform” rating on shares of Abivax in a research note on Tuesday, June 2nd. Fourteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $146.00.

Abivax Price Performance

Shares of NASDAQ:ABVX opened at $142.17 on Wednesday. The stock has a market cap of $11.34 billion, a price-to-earnings ratio of -27.29 and a beta of 0.87. The company has a 50 day moving average of $113.80 and a 200-day moving average of $118.19. Abivax SA Sponsored ADR has a one year low of $7.70 and a one year high of $148.83.

Abivax (NASDAQ:ABVX) last announced its quarterly earnings data 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 business had revenue of $1.56 million during the quarter, compared to analyst estimates of $0.40 million. Equities research analysts anticipate that Abivax SA Sponsored ADR will post -3.26 earnings per share for the current 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.