Elevation Point Wealth Partners LLC Purchases Shares of 5,730 Abivax SA Sponsored ADR $ABVX

Elevation Point Wealth Partners LLC acquired a new position in Abivax SA Sponsored ADR (NASDAQ:ABVX) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 5,730 shares of the company’s stock, valued at approximately $638,000.

Other institutional investors have also made changes to their positions in the company. GHP Investment Advisors Inc. boosted its stake in Abivax by 155.6% during the 1st quarter. GHP Investment Advisors Inc. now owns 230 shares of the company’s stock valued at $26,000 after purchasing an additional 140 shares during the period. Bank of America Corp DE grew its stake in shares of Abivax by 56.1% in the fourth quarter. Bank of America Corp DE now owns 5,536 shares of the company’s stock worth $41,000 after acquiring an additional 1,990 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its position in Abivax by 661.5% during 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 during the period. WPG Advisers LLC increased its position in Abivax by 125.9% during the fourth quarter. WPG Advisers LLC now owns 454 shares of the company’s stock worth $61,000 after acquiring an additional 253 shares during the period. Finally, T. Rowe Price Investment Management Inc. acquired a new position in Abivax during the 4th quarter valued at $61,000. 47.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Barclays upped their price objective on shares of Abivax from $142.00 to $148.00 and gave the company an “overweight” rating in a research report on Tuesday, March 24th. Leerink Partners upped their price target on Abivax from $140.00 to $148.00 and gave the company an “outperform” rating in a report on Tuesday, June 30th. Wolfe Research set a $136.00 price objective on Abivax in a report on Wednesday, June 3rd. Guggenheim restated a “buy” rating on shares of Abivax in a research report on Tuesday, June 30th. Finally, Morgan Stanley cut their target price on Abivax from $145.00 to $132.00 and set an “overweight” rating for the company in a research note on Tuesday, June 2nd. Fourteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $146.00.

Abivax Stock Down 1.3%

Shares of ABVX opened at $142.17 on Wednesday. The stock has a market cap of $11.34 billion, a price-to-earnings ratio of -27.29 and a beta of 0.87. Abivax SA Sponsored ADR has a 12 month low of $7.70 and a 12 month high of $148.83. The company has a 50-day moving average price of $113.80 and a two-hundred day moving average price of $118.19.

Abivax (NASDAQ:ABVX) last released its quarterly earnings data on Friday, May 22nd. The company reported ($0.71) earnings per share for the quarter, beating 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. Equities research analysts expect that Abivax SA Sponsored ADR will post -3.26 EPS for the current fiscal year.

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.