Abivax (NASDAQ:ABVX) Upgraded at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Abivax (NASDAQ:ABVX) to a strong-buy rating in a report released on Wednesday morning,Zacks reports.

Other research analysts also recently issued reports about the company. BTIG Research lifted their price target on Abivax from $150.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, June 30th. Wedbush upped their price objective on Abivax from $90.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 30th. Guggenheim reaffirmed a “buy” rating on shares of Abivax in a research report on Tuesday, June 30th. Truist Financial lifted their target price on Abivax from $135.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Finally, Wolfe Research set a $136.00 target price on shares of Abivax in a report on Wednesday, June 3rd. One research 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 issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $156.38.

Abivax Stock Up 2.3%

Shares of NASDAQ:ABVX opened at $118.64 on Wednesday. The company has a market capitalization of $10.35 billion, a price-to-earnings ratio of -22.77 and a beta of 0.96. Abivax has a 52 week low of $69.81 and a 52 week high of $148.83. The firm has a 50 day moving average of $124.83 and a 200 day moving average of $118.33.

Institutional Investors Weigh In On Abivax

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. TCG Crossover Management LLC boosted its holdings in Abivax by 17.4% in the third 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 in the last quarter. UBS Group AG increased its holdings in shares of Abivax by 2,561.0% during the third quarter. UBS Group AG now owns 4,461,262 shares of the company’s stock valued at $378,761,000 after acquiring an additional 4,293,606 shares in the last quarter. Darwin Global Management Ltd. increased its holdings in shares of Abivax by 0.4% during the fourth quarter. Darwin Global Management Ltd. now owns 3,178,501 shares of the company’s stock valued at $439,714,000 after acquiring an additional 14,000 shares in the last quarter. Morgan Stanley increased its holdings in shares of Abivax by 114.3% during the fourth quarter. Morgan Stanley now owns 3,151,994 shares of the company’s stock valued at $425,062,000 after acquiring an additional 1,681,277 shares in the last quarter. Finally, Vestal Point Capital LP raised its position in shares of Abivax by 90.0% in the 4th quarter. Vestal Point Capital LP now owns 1,900,000 shares of the company’s stock valued at $256,224,000 after purchasing an additional 900,000 shares during the last quarter. 47.91% of the stock is currently owned by hedge funds and other institutional investors.

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.