Short Interest in Abivax SA Sponsored ADR (NASDAQ:ABVX) Grows By 28.7%

Abivax SA Sponsored ADR (NASDAQ:ABVX) saw a large growth in short interest in the month of July. As of July 31st, there was short interest totaling 1,840,000 shares, agrowthof28.7% from the July 15th total of 1,430,000 shares. Currently,2.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,200,000 shares, the short-interest ratio is presently 1.5 days. Based on an average daily trading volume, of 1,200,000 shares, the short-interest ratio is presently 1.5 days. Currently,2.8% of the shares of the stock are short sold.

Abivax Stock Performance

Shares of ABVX stock opened at $71.89 on Thursday. Abivax has a 52 week low of $4.77 and a 52 week high of $75.51. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.29. The company’s fifty day simple moving average is $33.93 and its two-hundred day simple moving average is $16.06.

Institutional Trading of Abivax

Several hedge funds have recently made changes to their positions in ABVX. Octagon Capital Advisors LP purchased a new stake in shares of Abivax during the 1st quarter valued at about $7,688,000. Caligan Partners LP purchased a new stake in shares of Abivax during the 4th quarter valued at about $5,506,000. ADAR1 Capital Management LLC raised its position in shares of Abivax by 46.0% during the 1st quarter. ADAR1 Capital Management LLC now owns 2,210,019 shares of the company’s stock valued at $13,813,000 after buying an additional 696,626 shares in the last quarter. Allostery Investments LP purchased a new stake in shares of Abivax during the 4th quarter valued at about $4,328,000. Finally, Nantahala Capital Management LLC raised its position in shares of Abivax by 45.7% during the 4th quarter. Nantahala Capital Management LLC now owns 1,436,047 shares of the company’s stock valued at $10,512,000 after buying an additional 450,413 shares in the last quarter. 47.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on ABVX shares. Piper Sandler upped their target price on shares of Abivax from $70.00 to $112.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Morgan Stanley upgraded shares of Abivax from an “equal weight” rating to an “overweight” rating and set a $71.00 price target on the stock in a research note on Wednesday, July 23rd. Leerink Partners set a $74.00 price target on shares of Abivax and gave the stock an “outperform” rating in a research note on Wednesday, July 23rd. Lifesci Capital boosted their price target on shares of Abivax from $45.00 to $101.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 23rd. Finally, JMP Securities boosted their price target on shares of Abivax from $33.00 to $95.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $92.33.

Abivax 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.