Abivax (NASDAQ:ABVX) Reaches New 52-Week High – Here’s Why

Shares of Abivax SA Sponsored ADR (NASDAQ:ABVX) hit a new 52-week high during trading on Monday . The stock traded as high as $112.50 and last traded at $111.7590, with a volume of 43223 shares trading hands. The stock had previously closed at $110.39.

Analysts Set New Price Targets

ABVX has been the subject of a number of analyst reports. BTIG Research lifted their target price on shares of Abivax from $112.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, October 6th. JMP Securities raised their price target on shares of Abivax from $95.00 to $114.00 and gave the company a “market outperform” rating in a research report on Thursday, September 25th. Lifesci Capital boosted their price objective on shares of Abivax from $45.00 to $101.00 and gave the stock an “outperform” rating in a report on Wednesday, July 23rd. Guggenheim increased their target price on Abivax from $101.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, October 10th. Finally, Leerink Partners set a $74.00 target price on Abivax and gave the stock an “outperform” rating in a report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Abivax has a consensus rating of “Buy” and an average price target of $121.11.

Abivax Price Performance

The company has a market cap of $8.86 billion, a P/E ratio of -65.80 and a beta of 0.39. The stock’s 50-day moving average is $92.68 and its two-hundred day moving average is $53.98.

Abivax (NASDAQ:ABVX) last posted its earnings results on Monday, September 8th. The company reported ($0.86) EPS for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.04. On average, analysts predict that Abivax SA Sponsored ADR will post -2.83 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. UBS Group AG lifted its stake in shares of Abivax by 2,561.0% in the 3rd quarter. UBS Group AG now owns 4,461,262 shares of the company’s stock worth $378,761,000 after purchasing an additional 4,293,606 shares during the period. Darwin Global Management Ltd. purchased a new stake in Abivax during the third quarter valued at approximately $263,698,000. Paradigm Biocapital Advisors LP purchased a new stake in Abivax during the third quarter valued at approximately $132,800,000. Octagon Capital Advisors LP bought a new position in Abivax in the first quarter worth approximately $7,688,000. Finally, TCG Crossover Management LLC boosted its stake in shares of Abivax by 17.4% during the 3rd quarter. TCG Crossover Management LLC now owns 7,111,596 shares of the company’s stock worth $603,774,000 after acquiring an additional 1,055,000 shares during the last quarter. Institutional investors own 47.91% of the company’s stock.

About Abivax

ABIVAX Société Anonyme, a clinical-stage biotechnology company, focuses on developing therapeutics that harness the body's natural regulatory mechanisms to stablize the immune response in patients with chronic inflammatory diseases. The company is evaluating its lead drug candidate, obefazimod, in Phase 3 clinical trials for the treatment of moderately to severely active ulcerative colitis in adults.