Abivax (NASDAQ:ABVX) Trading Down 7.7% – Should You Sell?

Abivax SA Sponsored ADR (NASDAQ:ABVX) shares were down 7.7% on Wednesday . The company traded as low as $95.53 and last traded at $90.8880. Approximately 170,481 shares traded hands during trading, a decline of 88% from the average session volume of 1,433,131 shares. The stock had previously closed at $98.43.

Analysts Set New Price Targets

A number of equities analysts have commented on ABVX shares. Wolfe Research set a $136.00 price objective on shares of Abivax in a report on Wednesday, June 3rd. Morgan Stanley dropped their target price on Abivax from $145.00 to $132.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 2nd. Citigroup reiterated an “outperform” rating on shares of Abivax in a research note on Tuesday, June 2nd. Wedbush raised Abivax from an “underperform” rating to a “neutral” rating and reduced their price target for the company from $110.00 to $90.00 in a report on Tuesday, June 2nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Abivax in a research note on Monday, April 20th. Twelve equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $130.08.

Abivax Trading Down 0.2%

The stock has a market capitalization of $7.37 billion, a P/E ratio of -17.73 and a beta of 0.69. The stock’s 50 day simple moving average is $111.79 and its 200 day simple moving average is $117.69.

Abivax (NASDAQ:ABVX) last released its earnings results on Friday, May 22nd. The company reported ($0.71) earnings per share for the quarter, topping the consensus estimate of ($0.94) by $0.23. The company had revenue of $1.56 million during the quarter, compared to the consensus estimate of $0.40 million. On average, sell-side analysts expect that Abivax SA Sponsored ADR will post -3.4 EPS for the current fiscal year.

Institutional Trading of Abivax

Several hedge funds and other institutional investors have recently bought and sold shares of ABVX. GHP Investment Advisors Inc. lifted its holdings in Abivax by 155.6% during 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. WPG Advisers LLC increased its holdings in shares of Abivax by 125.9% in the 4th quarter. WPG Advisers LLC now owns 454 shares of the company’s stock valued at $61,000 after acquiring an additional 253 shares during the last quarter. Assetmark Inc. raised its position in shares of Abivax by 41.5% during the 1st 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 raised its position in shares of Abivax by 11.6% during the 1st 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 lifted its stake in Abivax by 10.5% during 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. 47.91% of the stock is owned by institutional investors.

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.