ABIVAX Société Anonyme (NASDAQ:ABVX) is ADAR1 Capital Management LLC’s 10th Largest Position

ADAR1 Capital Management LLC raised its position in ABIVAX Société Anonyme (NASDAQ:ABVX) by 190.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,513,393 shares of the company’s stock after purchasing an additional 991,781 shares during the quarter. ABIVAX Société Anonyme accounts for approximately 2.2% of ADAR1 Capital Management LLC’s portfolio, making the stock its 10th largest position. ADAR1 Capital Management LLC owned about 2.39% of ABIVAX Société Anonyme worth $11,078,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. acquired a new position in ABIVAX Société Anonyme during the 4th quarter worth about $5,336,000. Springhill Fund Asset Management HK Co Ltd acquired a new stake in shares of ABIVAX Société Anonyme during the fourth quarter worth about $1,520,000. Franklin Resources Inc. boosted its stake in shares of ABIVAX Société Anonyme by 10.7% in the fourth quarter. Franklin Resources Inc. now owns 1,466,062 shares of the company’s stock valued at $10,732,000 after purchasing an additional 141,710 shares during the period. Point72 Asset Management L.P. grew its holdings in shares of ABIVAX Société Anonyme by 28.2% in the third quarter. Point72 Asset Management L.P. now owns 542,900 shares of the company’s stock valued at $6,254,000 after purchasing an additional 119,300 shares in the last quarter. Finally, abrdn plc increased its stake in ABIVAX Société Anonyme by 34.1% during the 4th quarter. abrdn plc now owns 424,181 shares of the company’s stock worth $3,105,000 after buying an additional 107,750 shares during the period. 47.91% of the stock is currently owned by hedge funds and other institutional investors.

ABIVAX Société Anonyme Stock Down 8.1 %

Shares of NASDAQ ABVX opened at $5.32 on Monday. The business has a 50-day moving average of $6.77 and a two-hundred day moving average of $8.12. ABIVAX Société Anonyme has a 1 year low of $5.16 and a 1 year high of $16.63.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ABVX. JMP Securities reaffirmed a “market outperform” rating and set a $33.00 price objective on shares of ABIVAX Société Anonyme in a research report on Friday, January 10th. Morgan Stanley restated an “equal weight” rating and set a $12.00 price target on shares of ABIVAX Société Anonyme in a report on Thursday, March 20th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $38.00.

ABIVAX Société Anonyme Profile

ABIVAX Société Anonyme, a clinical-stage biotechnology company, focuses on developing therapeutics that harness the body's natural regulatory mechanisms to stablize the immune response in patients with chronic inflammatory diseases. The company is evaluating its lead drug candidate, obefazimod, in Phase 3 clinical trials for the treatment of moderately to severely active ulcerative colitis in adults.