Short Interest in ABIVAX Société Anonyme (NASDAQ:ABVX) Increases By 72.5%

ABIVAX Société Anonyme (NASDAQ:ABVX - Get Free Report) was the recipient of a significant increase in short interest in the month of August. As of August 15th, there was short interest totalling 166,500 shares, an increase of 72.5% from the July 31st total of 96,500 shares. Based on an average daily volume of 62,600 shares, the days-to-cover ratio is currently 2.7 days. Approximately 0.3% of the shares of the company are short sold.

Institutional Investors Weigh In On ABIVAX Société Anonyme

A number of hedge funds and other institutional investors have recently bought and sold shares of ABVX. Blackstone Inc. acquired a new stake in ABIVAX Société Anonyme in the fourth quarter valued at $25,345,000. Commodore Capital LP acquired a new position in shares of ABIVAX Société Anonyme during the 4th quarter worth $20,277,000. Great Point Partners LLC acquired a new position in shares of ABIVAX Société Anonyme during the 4th quarter worth $16,585,000. Franklin Resources Inc. acquired a new position in shares of ABIVAX Société Anonyme during the 4th quarter worth $13,630,000. Finally, Rosalind Advisors Inc. acquired a new position in shares of ABIVAX Société Anonyme during the 1st quarter worth $5,411,000. Institutional investors and hedge funds own 47.91% of the company's stock.

ABIVAX Société Anonyme Price Performance

ABIVAX Société Anonyme stock traded up $0.44 during midday trading on Thursday, reaching $12.70. The company's stock had a trading volume of 110,668 shares, compared to its average volume of 82,924. ABIVAX Société Anonyme has a fifty-two week low of $7.99 and a fifty-two week high of $17.02. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.08 and a quick ratio of 4.08. The stock's 50 day simple moving average is $12.28 and its 200 day simple moving average is $13.50.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ABVX. Laidlaw began coverage on ABIVAX Société Anonyme in a report on Monday, July 29th. They set a "buy" rating and a $48.00 price target for the company. BTIG Research began coverage on ABIVAX Société Anonyme in a report on Monday, May 20th. They set a "buy" rating and a $43.00 price target for the company. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $36.50.

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.