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

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

Hedge Funds 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. Janus Henderson Group PLC grew its holdings 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 purchasing an additional 131,414 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of ABIVAX Société Anonyme in the 1st quarter valued at about $81,000. abrdn plc grew its stake in ABIVAX Société Anonyme by 167.7% during the 3rd quarter. abrdn plc now owns 316,431 shares of the company’s stock worth $3,645,000 after buying an additional 198,225 shares during the last quarter. Kennedy Capital Management LLC increased its position in ABIVAX Société Anonyme by 35.3% during the first 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. Finally, Point72 Asset Management L.P. lifted 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 buying an additional 119,300 shares during the last quarter. 47.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Laidlaw began coverage on shares of ABIVAX Société Anonyme in a report on Monday, July 29th. They issued a “buy” rating and a $48.00 target price on the stock. One 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $39.80.

ABIVAX Société Anonyme Stock Down 4.6 %

NASDAQ:ABVX 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 stock has a 50-day simple moving average of $10.58 and a 200-day simple moving average of $12.10.

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.