Short Interest in ABIVAX Société Anonyme (NASDAQ:ABVX) Declines By 15.5%

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

Analyst Upgrades and Downgrades

Separately, Laidlaw initiated coverage on shares of ABIVAX Société Anonyme in a research report on Monday, July 29th. They issued a “buy” rating and a $48.00 target price for the company. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $39.80.

ABIVAX Société Anonyme Price Performance

ABIVAX Société Anonyme stock opened at $9.50 on Monday. ABIVAX Société Anonyme has a 1-year low of $8.75 and a 1-year high of $17.02. The firm has a 50 day simple moving average of $10.58 and a 200-day simple moving average of $12.10.

Institutional Investors Weigh In On ABIVAX Société Anonyme

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. boosted its stake 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 buying an additional 119,300 shares during the period. Walleye Capital LLC raised 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 valued at $2,965,000 after purchasing an additional 80,807 shares during the period. BNP Paribas Financial Markets lifted its stake in ABIVAX Société Anonyme by 82.6% during 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 in the last quarter. abrdn plc lifted 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 worth $3,645,000 after purchasing an additional 198,225 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position 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 during the period. Hedge funds and other institutional investors own 47.91% of the company’s stock.

About ABIVAX Société Anonyme

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.