ABIVAX Société Anonyme (NASDAQ:ABVX) Sees Large Drop in Short Interest

ABIVAX Société Anonyme (NASDAQ:ABVX) saw a significant decline in short interest during the month of 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 short sold. Based on an average daily volume of 109,700 shares, the short-interest ratio is currently 1.7 days.

Institutional Trading of ABIVAX Société Anonyme

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC grew its stake 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 valued at $12,113,000 after buying an additional 131,414 shares during the last quarter. Point72 Asset Management L.P. increased 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 worth $6,254,000 after purchasing an additional 119,300 shares during the period. abrdn plc lifted 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 purchasing an additional 198,225 shares during the last quarter. Walleye Capital LLC grew its holdings in shares of 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. Finally, Kennedy Capital Management LLC increased 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 buying an additional 31,331 shares during the period. 47.91% of the stock is owned by hedge funds and other institutional investors.

ABIVAX Société Anonyme Stock Performance

ABIVAX Société Anonyme stock opened at $9.50 on Friday. ABIVAX Société Anonyme has a 12-month low of $8.75 and a 12-month high of $17.02. The firm has a 50-day moving average price of $10.58 and a 200-day moving average price of $12.14.

Analyst Ratings Changes

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

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.