Abivax SA Sponsored ADR (NASDAQ:ABVX) Short Interest Down 38.0% in August

Key Points

• Abivax SA experienced a 38.0% decrease in short interest in August, with total short interest dropping to 1,140,000 shares as of August 15th.
• Shares of Abivax rose by 2.9%, with the stock currently priced at $88.03, reflecting significant changes in analyst ratings and price targets from various financial firms.
• Several hedge funds increased their stakes in Abivax, with ADAR1 Capital Management boosting its holdings by 46%, underscoring growing institutional interest in the company.

Abivax SA Sponsored ADR (NASDAQ:ABVX - Get Free Report) saw a large decrease in short interest in the month of August. As of August 15th, there was short interest totaling 1,140,000 shares, a decrease of 38.0% from the July 31st total of 1,840,000 shares. Approximately 1.7% of the company's stock are short sold. Based on an average daily volume of 1,370,000 shares, the short-interest ratio is currently 0.8 days. Based on an average daily volume of 1,370,000 shares, the short-interest ratio is currently 0.8 days. Approximately 1.7% of the company's stock are short sold.

Abivax Trading Down 1.9%

ABVX stock traded down $1.67 during midday trading on Thursday, hitting $85.96. 1,303,004 shares of the company traded hands, compared to its average volume of 1,105,553. Abivax has a twelve month low of $4.77 and a twelve month high of $92.91. The company has a current ratio of 0.77, a quick ratio of 1.25 and a debt-to-equity ratio of 1.29. The business has a 50 day simple moving average of $58.20 and a 200-day simple moving average of $24.43.

Abivax (NASDAQ:ABVX - Get Free Report) last announced its quarterly earnings results on Monday, September 8th. The company reported ($0.86) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.04. Equities research analysts predict that Abivax will post -2.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ABVX shares. Piper Sandler upped their target price on Abivax from $70.00 to $112.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Leerink Partners set a $74.00 target price on Abivax and gave the company an "outperform" rating in a report on Wednesday, July 23rd. Citigroup restated a "market outperform" rating on shares of Abivax in a report on Friday, July 18th. BTIG Research restated a "buy" rating and issued a $112.00 price objective on shares of Abivax in a report on Tuesday. Finally, Lifesci Capital increased their price objective on Abivax from $45.00 to $101.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $95.14.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Octagon Capital Advisors LP acquired a new stake in shares of Abivax in the first quarter valued at $7,688,000. ADAR1 Capital Management LLC raised its holdings in shares of Abivax by 46.0% in the first 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 during the last quarter. Allostery Investments LP raised its holdings in shares of Abivax by 86.0% in 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 last quarter. Citadel Advisors LLC raised its holdings in shares of Abivax by 83.5% in the fourth quarter. Citadel Advisors LLC now owns 855,676 shares of the company's stock valued at $6,264,000 after buying an additional 389,247 shares during the last quarter. Finally, Boothbay Fund Management LLC raised its holdings in shares of Abivax by 52.5% in the second quarter. Boothbay Fund Management LLC now owns 870,438 shares of the company's stock valued at $6,659,000 after buying an additional 299,770 shares during the last quarter. 47.91% of the stock is owned by institutional investors.

About Abivax

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.