Short Interest in ABIVAX Société Anonyme (NASDAQ:ABVX) Increases By 19.0%

ABIVAX Société Anonyme (NASDAQ:ABVX) was the recipient of a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 577,200 shares, a growth of 19.0% from the November 30th total of 484,900 shares. Based on an average daily volume of 139,700 shares, the days-to-cover ratio is presently 4.1 days. Approximately 1.1% of the shares of the stock are sold short.

ABIVAX Société Anonyme Price Performance

Shares of ABVX stock opened at $7.12 on Friday. The stock has a 50 day moving average price of $9.06 and a 200 day moving average price of $10.90. ABIVAX Société Anonyme has a 52-week low of $6.65 and a 52-week high of $17.02.

Institutional Trading of ABIVAX Société Anonyme

Several institutional investors and hedge funds have recently made changes to their positions in ABVX. BNP Paribas Financial Markets increased its stake 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 buying an additional 5,900 shares during the period. Walleye Capital LLC grew its stake in ABIVAX Société Anonyme by 45.8% in 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 in the last quarter. abrdn plc increased its position in shares of ABIVAX Société Anonyme by 167.7% during the third quarter. abrdn plc now owns 316,431 shares of the company’s stock worth $3,645,000 after acquiring an additional 198,225 shares during the period. Finally, Point72 Asset Management L.P. raised 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 valued at $6,254,000 after acquiring an additional 119,300 shares in the last quarter. 47.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on ABVX. Citizens Jmp upgraded ABIVAX Société Anonyme to a “strong-buy” rating in a report on Wednesday, December 4th. JMP Securities started coverage on ABIVAX Société Anonyme in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $33.00 price target for the company. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, ABIVAX Société Anonyme has a consensus 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.