Principal Financial Group Inc. Grows Stock Holdings in Abivax SA Sponsored ADR $ABVX

Principal Financial Group Inc. increased its position in Abivax SA Sponsored ADR (NASDAQ:ABVX) by 43.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 312,274 shares of the company’s stock after buying an additional 94,384 shares during the period. Principal Financial Group Inc.’s holdings in Abivax were worth $34,772,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. GHP Investment Advisors Inc. lifted its position 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 acquiring an additional 140 shares in the last quarter. Bank of America Corp DE lifted its position in Abivax by 56.1% during the fourth quarter. Bank of America Corp DE now owns 5,536 shares of the company’s stock valued at $41,000 after purchasing an additional 1,990 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its position in Abivax by 661.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 396 shares of the company’s stock worth $53,000 after acquiring an additional 344 shares in the last quarter. WPG Advisers LLC boosted 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 worth $61,000 after purchasing an additional 253 shares during the period. Finally, T. Rowe Price Investment Management Inc. purchased a new stake in shares of Abivax in the fourth quarter valued at $61,000. Hedge funds and other institutional investors own 47.91% of the company’s stock.

Abivax Price Performance

Shares of Abivax stock opened at $136.65 on Friday. Abivax SA Sponsored ADR has a 1 year low of $9.86 and a 1 year high of $148.83. The firm’s 50-day moving average is $116.97 and its two-hundred day moving average is $118.47. The stock has a market cap of $10.90 billion, a price-to-earnings ratio of -26.23 and a beta of 0.87.

Abivax (NASDAQ:ABVX) last posted its quarterly earnings results on Friday, May 22nd. The company reported ($0.71) EPS 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 the consensus estimate of $0.40 million. On average, equities analysts expect that Abivax SA Sponsored ADR will post -3.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ABVX. Wolfe Research set a $136.00 target price on Abivax in a research report on Wednesday, June 3rd. Citigroup restated an “outperform” rating on shares of Abivax in a report on Tuesday, June 2nd. Truist Financial increased their target price on Abivax from $135.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Piper Sandler boosted their target price on shares of Abivax from $165.00 to $175.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and issued a $187.00 price target on shares of Abivax in a research note on Wednesday, July 1st. Fourteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Abivax currently has an average rating of “Moderate Buy” and an average price target of $148.54.

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.