Abivax SA Sponsored ADR (NASDAQ:ABVX) Sees Large Drop in Short Interest

Key Points

• Short interest fell 21.6% to 2,561,260 shares as of April 15, representing about 3.2% of shares sold short and a days-to-cover ratio of 3.0 based on average daily volume.
• Analyst sentiment is broadly positive: the stock trades around $106 with a market cap of $8.42B and an average analyst target of $137.15 (consensus "Moderate Buy"), with price targets reported up to $150.
• Institutional ownership is significant (47.9%), and several large funds including UBS, TCG Crossover and Morgan Stanley materially increased positions; Abivax is a clinical-stage biotech whose lead asset is obefazimod (ABX464).

Abivax SA Sponsored ADR (NASDAQ:ABVX - Get Free Report) saw a large drop in short interest in April. As of April 15th, there was short interest totaling 2,561,260 shares, a drop of 21.6% from the March 31st total of 3,266,931 shares. Based on an average daily volume of 841,542 shares, the days-to-cover ratio is presently 3.0 days. Currently, 3.2% of the shares of the company are sold short.

Abivax Price Performance

Abivax stock opened at $106.24 on Thursday. The company has a market capitalization of $8.42 billion, a PE ratio of -19.78 and a beta of 1.68. Abivax has a one year low of $5.59 and a one year high of $148.83. The business has a 50 day simple moving average of $117.28 and a 200 day simple moving average of $116.29.

Abivax (NASDAQ:ABVX - Get Free Report) last posted its earnings results on Saturday, February 14th. The company reported ($1.20) EPS for the quarter. The company had revenue of $0.52 million during the quarter. Equities analysts anticipate that Abivax will post -3.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ABVX. BTIG Research reissued a "buy" rating and set a $150.00 price objective on shares of Abivax in a report on Wednesday, February 25th. Wedbush began coverage on Abivax in a research report on Tuesday, February 24th. They set an "outperform" rating and a $110.00 target price for the company. Oppenheimer set a $131.00 target price on Abivax in a research report on Thursday, January 8th. Barclays raised their target price on Abivax from $142.00 to $148.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 24th. Finally, Citigroup restated a "market outperform" rating on shares of Abivax in a research report on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $137.15.

Hedge Funds Weigh In On Abivax

Several institutional investors have recently bought and sold shares of the business. TCG Crossover Management LLC raised its position in Abivax by 17.4% in the 3rd quarter. TCG Crossover Management LLC now owns 7,111,596 shares of the company's stock valued at $603,774,000 after purchasing an additional 1,055,000 shares during the last quarter. UBS Group AG raised its position in Abivax by 2,561.0% in the 3rd quarter. UBS Group AG now owns 4,461,262 shares of the company's stock valued at $378,761,000 after purchasing an additional 4,293,606 shares during the last quarter. Darwin Global Management Ltd. raised its position in Abivax by 0.4% in the 4th quarter. Darwin Global Management Ltd. now owns 3,178,501 shares of the company's stock valued at $439,714,000 after purchasing an additional 14,000 shares during the last quarter. Morgan Stanley raised its position in Abivax by 114.3% in the 4th quarter. Morgan Stanley now owns 3,151,994 shares of the company's stock valued at $425,062,000 after purchasing an additional 1,681,277 shares during the last quarter. Finally, Vestal Point Capital LP raised its position in Abivax by 90.0% in the 4th quarter. Vestal Point Capital LP now owns 1,900,000 shares of the company's stock valued at $256,224,000 after purchasing an additional 900,000 shares during the last quarter. Institutional investors own 47.91% of the company's stock.

About Abivax

Founded in 2013 and headquartered in Paris, France, Abivax is a clinical-stage biopharmaceutical company focused on discovering and developing novel therapies for chronic inflammatory diseases and viral infections. The company’s technology platform targets host RNA biogenesis to modulate key immune pathways, offering a differentiated approach aimed at disease modification and improved safety profiles.

Abivax’s lead clinical asset, obefazimod (ABX464), is being evaluated in ulcerative colitis and other inflammatory disorders.

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