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

ABIVAX Société Anonyme (NASDAQ:ABVX - Get Free Report) was the recipient 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 short sold. Based on an average daily volume of 109,700 shares, the short-interest ratio is presently 1.7 days.

ABIVAX Société Anonyme Stock Performance

Shares of ABIVAX Société Anonyme stock traded down $0.46 on Friday, reaching $9.50. 91,459 shares of the company were exchanged, compared to its average volume of 92,280. The stock's 50 day moving average price is $10.58 and its 200-day moving average price is $12.14. ABIVAX Société Anonyme has a 1-year low of $8.75 and a 1-year high of $17.02.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets acquired a new stake in shares of ABIVAX Société Anonyme during the 1st quarter worth about $81,000. Kennedy Capital Management LLC raised its holdings 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 purchasing an additional 31,331 shares in the last quarter. Walleye Capital LLC lifted its position 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 buying an additional 80,807 shares during the last quarter. abrdn plc lifted its position 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 worth $3,645,000 after buying an additional 198,225 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings 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 buying an additional 119,300 shares in the last quarter. Institutional investors and hedge funds own 47.91% of the company's stock.

Analyst Ratings Changes

Separately, Laidlaw initiated coverage on shares of 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 research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus 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.