ABIVAX Société Anonyme (NASDAQ:ABVX) Short Interest Down 16.5% in October

ABIVAX Société Anonyme (NASDAQ:ABVX - Get Free Report) was the recipient of a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 227,200 shares, a decline of 16.5% from the September 30th total of 272,200 shares. Based on an average trading volume of 118,000 shares, the short-interest ratio is currently 1.9 days. Currently, 0.4% of the company's shares are sold short.

Analyst Upgrades and Downgrades

Separately, Laidlaw assumed coverage on ABIVAX Société Anonyme in a research note on Monday, July 29th. They set a "buy" rating and a $48.00 target price for the company. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $36.50.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets acquired a new position in shares of ABIVAX Société Anonyme during the 1st quarter worth approximately $81,000. Capstone Investment Advisors LLC raised its position in shares of ABIVAX Société Anonyme by 9.0% in the first quarter. Capstone Investment Advisors LLC now owns 62,966 shares of the company's stock valued at $900,000 after purchasing an additional 5,199 shares during the period. Kennedy Capital Management LLC lifted its stake in shares of ABIVAX Société Anonyme by 35.3% during the 1st 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 last quarter. abrdn plc grew its stake in ABIVAX Société Anonyme by 167.7% in the 3rd quarter. abrdn plc now owns 316,431 shares of the company's stock valued at $3,645,000 after buying an additional 198,225 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in ABIVAX Société Anonyme by 18.2% in the 1st quarter. Janus Henderson Group PLC now owns 851,839 shares of the company's stock valued at $12,113,000 after acquiring an additional 131,414 shares during the period. 47.91% of the stock is currently owned by institutional investors.

ABIVAX Société Anonyme Price Performance

Shares of ABVX traded up $0.39 during mid-day trading on Monday, hitting $10.69. 27,905 shares of the company's stock were exchanged, compared to its average volume of 93,708. The company has a 50-day simple moving average of $11.09 and a 200 day simple moving average of $12.63. ABIVAX Société Anonyme has a 52 week low of $8.75 and a 52 week high of $17.02.

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.