Abivax SA Sponsored ADR (NASDAQ:ABVX) Short Interest Up 42.1% in August

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 large increase in short interest in 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 currently 1.1 days. Currently, 2.4% of the company's stock are short sold. Currently, 2.4% of the company's stock are short sold. Based on an average daily volume of 1,500,000 shares, the short-interest ratio is currently 1.1 days.

Abivax Trading Down 1.2%

Shares of ABVX stock traded down $1.01 during trading hours on Friday, hitting $82.30. 592,344 shares of the company were exchanged, compared to its average volume of 1,039,335. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.77 and a current ratio of 0.77. Abivax has a one year low of $4.77 and a one year high of $92.91. The business's 50-day simple moving average is $67.21 and its two-hundred day simple moving average is $27.56.

Abivax (NASDAQ:ABVX - Get Free Report) last issued its quarterly earnings results 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, equities research analysts forecast that Abivax will post -2.83 EPS for the current year.

Wall Street Analysts Forecast Growth

ABVX has been the subject of a number of research reports. Guggenheim upped their price target on shares of Abivax from $50.00 to $101.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. JMP Securities raised their target price on Abivax from $33.00 to $95.00 and gave the company a "market outperform" rating in a research note on Wednesday, July 23rd. Citigroup restated a "market outperform" rating on shares of Abivax in a research note on Friday, July 18th. Piper Sandler raised their target price on Abivax from $70.00 to $112.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Finally, Wall Street Zen upgraded Abivax from a "sell" rating to a "hold" rating in a research note on Saturday, September 13th. One investment analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $99.43.

Hedge Funds Weigh In On Abivax

Several large investors have recently modified their holdings of the stock. Octagon Capital Advisors LP bought a new position in Abivax in the first quarter worth about $7,688,000. ADAR1 Capital Management LLC lifted its holdings in Abivax by 46.0% in the first quarter. ADAR1 Capital Management LLC now owns 2,210,019 shares of the company's stock worth $13,813,000 after acquiring an additional 696,626 shares during the last quarter. Allostery Investments LP lifted its holdings in Abivax by 86.0% in the first quarter. Allostery Investments LP now owns 1,099,654 shares of the company's stock worth $6,873,000 after acquiring an additional 508,401 shares during the last quarter. Boothbay Fund Management LLC lifted its holdings in Abivax by 52.5% in the second quarter. Boothbay Fund Management LLC now owns 870,438 shares of the company's stock worth $6,659,000 after acquiring an additional 299,770 shares during the last quarter. Finally, Aberdeen Group plc lifted its holdings in Abivax by 67.5% in the first quarter. Aberdeen Group plc now owns 710,516 shares of the company's stock worth $4,441,000 after acquiring an additional 286,335 shares during the last quarter. Institutional investors own 47.91% of the company's stock.

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.