ABIVAX Société Anonyme (NASDAQ:ABVX) Sees Significant Growth in Short Interest

ABIVAX Société Anonyme (NASDAQ:ABVX) saw a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 577,200 shares, an increase of 19.0% from the November 30th total of 484,900 shares. Approximately 1.1% of the company’s stock are sold short. Based on an average trading volume of 139,700 shares, the short-interest ratio is currently 4.1 days.

Hedge Funds Weigh In On ABIVAX Société Anonyme

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. abrdn plc increased its holdings in shares of ABIVAX Société Anonyme by 167.7% in 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. 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 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 valued at $2,965,000 after purchasing an additional 80,807 shares in the last quarter. Finally, 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. Institutional investors own 47.91% of the company’s stock.

ABIVAX Société Anonyme Stock Up 0.4 %

NASDAQ ABVX traded up $0.03 during trading hours on Monday, reaching $7.15. The company’s stock had a trading volume of 129,186 shares, compared to its average volume of 99,057. ABIVAX Société Anonyme has a 1 year low of $6.65 and a 1 year high of $17.02. The firm’s 50-day moving average price is $9.06 and its 200-day moving average price is $10.90.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ABVX shares. Citizens Jmp upgraded ABIVAX Société Anonyme to a “strong-buy” rating in a research note on Wednesday, December 4th. JMP Securities began coverage on ABIVAX Société Anonyme in a research report on Wednesday, December 4th. They set an “outperform” rating and a $33.00 price objective for the company. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $38.67.

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.