Abivax (NASDAQ:ABVX) Stock Rating Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of Abivax (NASDAQ:ABVX) from a hold rating to a sell rating in a report released on Saturday morning,Wall Street Zen reports.

ABVX has been the subject of a number of other research reports. The Goldman Sachs Group began coverage on shares of Abivax in a research report on Wednesday, September 9th. They issued a “buy” rating and a $155.00 target price for the company. BTIG Research boosted their price target on shares of Abivax from $150.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, June 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Abivax in a report on Friday, July 17th. Piper Sandler upped their price target on shares of Abivax from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Finally, Wedbush cut their price objective on Abivax from $140.00 to $118.00 and set a “neutral” rating for the company in a report on Tuesday, September 22nd. 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 assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $156.69.

Abivax Price Performance

Shares of ABVX opened at $91.06 on Friday. The company has a market capitalization of $7.95 billion, a price-to-earnings ratio of -15.03 and a beta of 0.96. Abivax has a fifty-two week low of $69.81 and a fifty-two week high of $148.83. The business’s 50-day moving average is $117.40 and its 200-day moving average is $117.12.

Abivax (NASDAQ:ABVX) last posted its quarterly earnings results on Monday, September 21st. The company reported ($1.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.79). The firm had revenue of $1.37 million for the quarter, compared to analyst estimates of $0.80 million. Equities research analysts expect that Abivax will post -4.18 earnings per share for the current fiscal year.

Institutional Trading of Abivax

A number of institutional investors have recently added to or reduced their stakes in ABVX. GHP Investment Advisors Inc. grew its position in Abivax by 155.6% in the first quarter. GHP Investment Advisors Inc. now owns 230 shares of the company’s stock worth $26,000 after acquiring an additional 140 shares in the last quarter. Versant Capital Management Inc bought a new position in shares of Abivax during the 2nd quarter valued at $30,000. Assetmark Inc. lifted its stake in shares of Abivax by 41.5% in the 1st quarter. Assetmark Inc. now owns 886 shares of the company’s stock valued at $99,000 after purchasing an additional 260 shares during the last quarter. Troluce Capital Advisors LLC acquired a new stake in shares of Abivax in the 2nd quarter valued at $133,000. Finally, Clearstead Advisors LLC acquired a new stake in shares of Abivax in the 4th quarter valued at $138,000. 47.91% of the stock is currently owned by institutional investors and hedge funds.

Abivax Company Profile

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.