ABIVAX Société Anonyme (NASDAQ:ABVX) Short Interest Up 71.2% in November

ABIVAX Société Anonyme (NASDAQ:ABVX) was the recipient of a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 484,900 shares, an increase of 71.2% from the November 15th total of 283,200 shares. Currently, 0.9% of the shares of the company are short sold. Based on an average daily trading volume, of 117,700 shares, the short-interest ratio is currently 4.1 days.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Citizens Jmp upgraded ABIVAX Société Anonyme to a “strong-buy” rating in a research report on Wednesday, December 4th. JMP Securities began coverage on shares of ABIVAX Société Anonyme in a research report on Wednesday, December 4th. They set 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 assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, ABIVAX Société Anonyme presently has an average rating of “Buy” and an average target price of $38.67.

ABIVAX Société Anonyme Stock Performance

Shares of ABIVAX Société Anonyme stock opened at $7.65 on Friday. ABIVAX Société Anonyme has a twelve month low of $7.65 and a twelve month high of $17.02. The business has a 50-day moving average price of $9.52 and a 200-day moving average price of $11.39.

Hedge Funds Weigh In On ABIVAX Société Anonyme

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ABVX. Point72 Asset Management L.P. raised its holdings in shares of ABIVAX Société Anonyme by 28.2% during the 3rd 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 in the last quarter. Walleye Capital LLC increased its position in ABIVAX Société Anonyme by 45.8% in the third quarter. Walleye Capital LLC now owns 257,417 shares of the company’s stock worth $2,965,000 after purchasing an additional 80,807 shares during the last quarter. BNP Paribas Financial Markets increased its position in ABIVAX Société Anonyme by 82.6% in the third 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 during the last quarter. Finally, abrdn plc raised its stake in ABIVAX Société Anonyme by 167.7% during the third quarter. abrdn plc now owns 316,431 shares of the company’s stock valued at $3,645,000 after purchasing an additional 198,225 shares in the last quarter. 47.91% of the stock is owned by institutional investors.

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.