ABIVAX Société Anonyme (NASDAQ:ABVX) Short Interest Down 15.5% in October

ABIVAX Société Anonyme (NASDAQ:ABVX) saw a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 191,900 shares, a decrease of 15.5% from the October 15th total of 227,200 shares. Based on an average daily volume of 109,700 shares, the days-to-cover ratio is presently 1.7 days. Approximately 0.4% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ABVX. Janus Henderson Group PLC grew its holdings in shares of ABIVAX Société Anonyme by 18.2% during the first quarter. Janus Henderson Group PLC now owns 851,839 shares of the company’s stock worth $12,113,000 after buying an additional 131,414 shares in the last quarter. Point72 Asset Management L.P. boosted its position in 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 acquiring an additional 119,300 shares during the last quarter. abrdn plc grew its stake in 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 raised its holdings in ABIVAX Société Anonyme by 45.8% in the 3rd quarter. Walleye Capital LLC now owns 257,417 shares of the company’s stock valued at $2,965,000 after acquiring an additional 80,807 shares during the last quarter. Finally, Kennedy Capital Management LLC lifted its stake in ABIVAX Société Anonyme by 35.3% in the 1st quarter. Kennedy Capital Management LLC now owns 120,168 shares of the company’s stock worth $1,718,000 after purchasing an additional 31,331 shares in the last quarter. 47.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Laidlaw initiated coverage on ABIVAX Société Anonyme in a research report on Monday, July 29th. They issued a “buy” rating and a $48.00 price objective for the company. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, ABIVAX Société Anonyme presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.80.

ABIVAX Société Anonyme Price Performance

Shares of ABIVAX Société Anonyme stock opened at $9.50 on Friday. The business has a 50 day simple moving average of $10.58 and a two-hundred day simple moving average of $12.12. ABIVAX Société Anonyme has a 12 month low of $8.75 and a 12 month high of $17.02.

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.