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

ABIVAX Société Anonyme (NASDAQ:ABVX) saw a large increase in short interest in the month of 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 trading volume, of 162,900 shares, the short-interest ratio is currently 5.2 days. Approximately 1.6% of the shares of the company are short sold.

ABIVAX Société Anonyme Price Performance

Shares of NASDAQ:ABVX opened at $6.23 on Friday. The firm has a fifty day moving average price of $8.14 and a two-hundred day moving average price of $10.30. ABIVAX Société Anonyme has a one year low of $5.54 and a one year high of $17.02.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ABVX. JMP Securities reissued a “market outperform” rating and set a $33.00 target price on shares of ABIVAX Société Anonyme in a report on Friday, January 10th. Citizens Jmp upgraded ABIVAX Société Anonyme to a “strong-buy” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $38.67.

Institutional Investors Weigh In On ABIVAX Société Anonyme

Institutional investors and hedge funds have recently made changes to their positions in the business. abrdn plc increased its stake in ABIVAX Société Anonyme by 167.7% in the 3rd 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 last quarter. BNP Paribas Financial Markets grew its holdings in shares of 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. Walleye Capital LLC grew its holdings in shares of ABIVAX Société Anonyme by 45.8% during 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 in the last quarter. Point72 Asset Management L.P. raised its stake in ABIVAX Société Anonyme by 28.2% in the third quarter. Point72 Asset Management L.P. now owns 542,900 shares of the company’s stock valued at $6,254,000 after purchasing an additional 119,300 shares in the last quarter. Finally, GAMMA Investing LLC bought a new stake in ABIVAX Société Anonyme during the fourth quarter valued at approximately $29,000. Hedge funds and other institutional investors own 47.91% of the company’s stock.

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.