Short Interest in ABIVAX Société Anonyme (NASDAQ:ABVX) Expands By 71.2%

ABIVAX Société Anonyme (NASDAQ:ABVX - Get Free Report) saw a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 484,900 shares, a growth of 71.2% from the November 15th total of 283,200 shares. Based on an average daily trading volume, of 117,700 shares, the short-interest ratio is currently 4.1 days. Approximately 0.9% of the company's shares are sold short.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ABVX shares. Citizens Jmp upgraded ABIVAX Société Anonyme to a "strong-buy" rating in a research report on Wednesday, December 4th. JMP Securities initiated coverage on ABIVAX Société Anonyme in a research note on Wednesday, December 4th. They set an "outperform" rating and a $33.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, ABIVAX Société Anonyme currently has a consensus rating of "Buy" and an average target price of $38.67.

ABIVAX Société Anonyme Stock Down 3.7 %

NASDAQ:ABVX traded down $0.29 on Thursday, reaching $7.65. The company's stock had a trading volume of 57,391 shares, compared to its average volume of 94,187. ABIVAX Société Anonyme has a 1-year low of $7.65 and a 1-year high of $17.02. The business's 50-day moving average price is $9.52 and its two-hundred day moving average price is $11.39.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ABVX. BNP Paribas Financial Markets grew its stake in ABIVAX Société Anonyme by 82.6% in the third quarter. BNP Paribas Financial Markets now owns 13,044 shares of the company's stock valued at $150,000 after acquiring an additional 5,900 shares during the period. Walleye Capital LLC grew its stake in ABIVAX Société Anonyme by 45.8% in the third quarter. Walleye Capital LLC now owns 257,417 shares of the company's stock valued at $2,965,000 after acquiring an additional 80,807 shares during the period. abrdn plc grew its stake in ABIVAX Société Anonyme by 167.7% in the third quarter. abrdn plc now owns 316,431 shares of the company's stock valued at $3,645,000 after acquiring an additional 198,225 shares during the period. Finally, Point72 Asset Management L.P. grew 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 acquiring an additional 119,300 shares during the period. 47.91% of the stock is owned by institutional investors and hedge funds.

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.