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

ABIVAX Société Anonyme (NASDAQ:ABVX) was the recipient of 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. Based on an average daily trading volume, of 109,700 shares, the days-to-cover ratio is presently 1.7 days. Approximately 0.4% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Separately, Laidlaw assumed coverage on ABIVAX Société Anonyme in a research note 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 assigned a buy rating to the stock. According to data from MarketBeat.com, ABIVAX Société Anonyme has a consensus rating of “Moderate Buy” and an average price target of $39.80.

Institutional Investors Weigh In On ABIVAX Société Anonyme

Hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets acquired a new position in shares of ABIVAX Société Anonyme in the 1st quarter valued at about $81,000. Kennedy Capital Management LLC boosted its position 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. Walleye Capital LLC grew its stake in shares of ABIVAX Société Anonyme by 45.8% during the 3rd 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 period. abrdn plc increased its holdings in shares of 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 purchasing an additional 198,225 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in shares of ABIVAX Société Anonyme by 28.2% in the 3rd 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 during the period. 47.91% of the stock is owned by hedge funds and other institutional investors.

ABIVAX Société Anonyme Stock Down 4.6 %

ABVX 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’s fifty day simple moving average is $10.58 and its 200-day simple moving average is $12.12.

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.