ABIVAX Société Anonyme (NASDAQ:ABVX) Short Interest Update

ABIVAX Société Anonyme (NASDAQ:ABVX - Get Free Report) saw a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 1,620,000 shares, an increase of 19.1% from the March 15th total of 1,360,000 shares. Based on an average daily trading volume, of 211,900 shares, the days-to-cover ratio is currently 7.6 days. Currently, 2.9% of the shares of the company are sold short.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. JMP Securities reiterated a "market outperform" rating and set a $33.00 price objective on shares of ABIVAX Société Anonyme in a research note on Friday, January 10th. Morgan Stanley reiterated an "equal weight" rating and set a $12.00 price target on shares of ABIVAX Société Anonyme in a research report on Thursday, March 20th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, ABIVAX Société Anonyme has a consensus rating of "Buy" and an average target price of $38.00.

Institutional Investors 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 raised its position in shares of ABIVAX Société Anonyme by 34.1% during the 4th quarter. abrdn plc now owns 424,181 shares of the company's stock worth $3,105,000 after buying an additional 107,750 shares in the last quarter. GAMMA Investing LLC acquired a new position in shares of ABIVAX Société Anonyme during the fourth quarter valued at approximately $29,000. JPMorgan Chase & Co. bought a new stake in ABIVAX Société Anonyme during the fourth quarter worth approximately $5,336,000. Franklin Resources Inc. lifted its position in ABIVAX Société Anonyme by 10.7% in the fourth quarter. Franklin Resources Inc. now owns 1,466,062 shares of the company's stock worth $10,732,000 after purchasing an additional 141,710 shares during the period. Finally, ADAR1 Capital Management LLC boosted its stake in ABIVAX Société Anonyme by 190.1% during the 4th quarter. ADAR1 Capital Management LLC now owns 1,513,393 shares of the company's stock valued at $11,078,000 after purchasing an additional 991,781 shares in the last quarter. 47.91% of the stock is currently owned by institutional investors.

ABIVAX Société Anonyme Stock Performance

Shares of ABVX traded up $0.26 during mid-day trading on Wednesday, reaching $6.76. 230,909 shares of the company's stock traded hands, compared to its average volume of 130,873. The business's 50-day moving average price is $6.68 and its 200-day moving average price is $7.66. ABIVAX Société Anonyme has a 12 month low of $4.77 and a 12 month high of $16.63.

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.