ABIVAX Société Anonyme (NASDAQ:ABVX) Sees Significant Drop in Short Interest

ABIVAX Société Anonyme (NASDAQ:ABVX) was the recipient of a significant drop in short interest during the month of May. As of May 15th, there was short interest totalling 1,180,000 shares, a drop of 13.9% from the April 30th total of 1,370,000 shares. Approximately 2.1% of the company’s stock are short sold. Based on an average daily trading volume, of 209,200 shares, the days-to-cover ratio is currently 5.6 days.

Analysts Set New Price Targets

ABVX has been the topic of several recent research reports. Morgan Stanley reaffirmed an “equal weight” rating and issued a $12.00 price target on shares of ABIVAX Société Anonyme in a research report on Thursday, March 20th. JMP Securities reiterated a “market outperform” rating and set a $33.00 price target on shares of ABIVAX Société Anonyme in a report on Wednesday, April 30th.

ABIVAX Société Anonyme Stock Performance

ABIVAX Société Anonyme stock opened at $7.74 on Wednesday. ABIVAX Société Anonyme has a fifty-two week low of $4.77 and a fifty-two week high of $14.71. The firm’s 50-day simple moving average is $6.23 and its 200 day simple moving average is $6.89.

Hedge Funds Weigh In On ABIVAX Société Anonyme

Several institutional investors have recently modified their holdings of ABVX. Woodline Partners LP lifted its holdings in ABIVAX Société Anonyme by 319.5% during the first quarter. Woodline Partners LP now owns 201,924 shares of the company’s stock worth $1,262,000 after acquiring an additional 153,788 shares during the period. Octagon Capital Advisors LP bought a new stake in shares of ABIVAX Société Anonyme during the 1st quarter worth $7,688,000. Millennium Management LLC boosted its holdings in shares of ABIVAX Société Anonyme by 6.0% in the 1st quarter. Millennium Management LLC now owns 987,414 shares of the company’s stock worth $6,171,000 after buying an additional 56,235 shares during the last quarter. Allostery Investments LP grew its position in ABIVAX Société Anonyme by 86.0% during the first quarter. Allostery Investments LP now owns 1,099,654 shares of the company’s stock valued at $6,873,000 after buying an additional 508,401 shares during the period. Finally, ADAR1 Capital Management LLC increased its holdings in ABIVAX Société Anonyme by 46.0% during the first quarter. ADAR1 Capital Management LLC now owns 2,210,019 shares of the company’s stock worth $13,813,000 after buying an additional 696,626 shares during the last quarter. 47.91% of the stock is owned by institutional investors.

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.