Abivax SA Sponsored ADR (NASDAQ:ABVX) Sees Significant Increase in Short Interest

Key Points

• Abivax SA Sponsored ADR (NASDAQ:ABVX) experienced a significant increase in short interest, rising by 42.1% in August to a total of 1,620,000 shares.
• Large investors have increased their positions in Abivax, with GAMMA Investing LLC raising its stake by 373.6% recently, reflecting growing institutional interest.
• Analysts have positive outlooks for Abivax, with a consensus rating of "Buy" and a target price of $99.43, following multiple upward adjustments to price targets.

Abivax SA Sponsored ADR (NASDAQ:ABVX - Get Free Report) was the recipient of a significant increase in short interest during the month of August. As of August 31st, there was short interest totaling 1,620,000 shares, an increase of 42.1% from the August 15th total of 1,140,000 shares. Based on an average daily volume of 1,500,000 shares, the short-interest ratio is presently 1.1 days. Approximately 2.4% of the shares of the stock are short sold. Approximately 2.4% of the shares of the stock are short sold. Based on an average daily volume of 1,500,000 shares, the short-interest ratio is presently 1.1 days.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Bank of America Corp DE raised its position in Abivax by 56.1% during the 4th quarter. Bank of America Corp DE now owns 5,536 shares of the company's stock valued at $41,000 after purchasing an additional 1,990 shares during the last quarter. Cubist Systematic Strategies LLC raised its position in Abivax by 34.3% during the 1st quarter. Cubist Systematic Strategies LLC now owns 10,152 shares of the company's stock valued at $63,000 after purchasing an additional 2,595 shares during the last quarter. Ameriprise Financial Inc. bought a new position in Abivax during the 4th quarter valued at approximately $85,000. GAMMA Investing LLC raised its position in Abivax by 373.6% during the 1st quarter. GAMMA Investing LLC now owns 18,831 shares of the company's stock valued at $118,000 after purchasing an additional 14,855 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in Abivax during the 2nd quarter valued at approximately $139,000. Hedge funds and other institutional investors own 47.91% of the company's stock.

Abivax Trading Up 2.2%

ABVX opened at $85.87 on Tuesday. The business's 50-day moving average price is $61.28 and its 200-day moving average price is $25.75. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.29. Abivax has a 12 month low of $4.77 and a 12 month high of $92.91.

Abivax (NASDAQ:ABVX - Get Free Report) last released its quarterly earnings data on Monday, September 8th. The company reported ($0.86) EPS for the quarter, topping the consensus estimate of ($0.90) by $0.04. On average, analysts expect that Abivax will post -2.83 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ABVX shares. Citigroup reaffirmed a "market outperform" rating on shares of Abivax in a research note on Friday, July 18th. Wall Street Zen raised Abivax from a "sell" rating to a "hold" rating in a research note on Saturday. JMP Securities lifted their price target on Abivax from $33.00 to $95.00 and gave the stock a "market outperform" rating in a research note on Wednesday, July 23rd. Lifesci Capital lifted their price target on Abivax from $45.00 to $101.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 23rd. Finally, Guggenheim lifted their price target on Abivax from $50.00 to $101.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $99.43.

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.

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