Short Interest in ABIVAX Société Anonyme (NASDAQ:ABVX) Expands By 47.9%

ABIVAX Société Anonyme (NASDAQ:ABVX) was the target of a significant increase in short interest in December. As of December 31st, there was short interest totalling 853,600 shares, an increase of 47.9% from the December 15th total of 577,200 shares. Based on an average daily volume of 162,900 shares, the days-to-cover ratio is presently 5.2 days. Approximately 1.6% of the shares of the stock are short sold.

ABIVAX Société Anonyme Stock Performance

ABVX opened at $6.15 on Wednesday. The company’s 50 day moving average is $8.22 and its 200-day moving average is $10.33. ABIVAX Société Anonyme has a 1-year low of $5.54 and a 1-year high of $17.02.

Hedge Funds Weigh In On ABIVAX Société Anonyme

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. grew its stake in shares of ABIVAX Société Anonyme by 28.2% during the third quarter. Point72 Asset Management L.P. now owns 542,900 shares of the company’s stock worth $6,254,000 after buying an additional 119,300 shares during the last quarter. abrdn plc boosted its holdings in shares of ABIVAX Société Anonyme by 167.7% during the 3rd quarter. abrdn plc now owns 316,431 shares of the company’s stock valued at $3,645,000 after acquiring an additional 198,225 shares in the last quarter. Walleye Capital LLC grew its position in ABIVAX Société Anonyme by 45.8% during the 3rd quarter. Walleye Capital LLC now owns 257,417 shares of the company’s stock worth $2,965,000 after acquiring an additional 80,807 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in ABIVAX Société Anonyme by 82.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 13,044 shares of the company’s stock worth $150,000 after purchasing an additional 5,900 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new position in ABIVAX Société Anonyme in the 4th quarter worth about $29,000. Institutional investors own 47.91% of the company’s stock.

Analysts Set New Price Targets

ABVX has been the topic of a number of analyst reports. JMP Securities reiterated a “market outperform” rating and set a $33.00 price objective on shares of ABIVAX Société Anonyme in a research note on Friday, January 10th. Citizens Jmp upgraded shares of ABIVAX Société Anonyme to a “strong-buy” rating in a research report on Wednesday, December 4th. One 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’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $38.67.

ABIVAX Société Anonyme Company 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.