Short Interest in ABIVAX Société Anonyme (NASDAQ:ABVX) Declines By 13.9%

ABIVAX Société Anonyme (NASDAQ:ABVX - Get Free Report) was the target of a significant decrease in short interest in May. As of May 15th, there was short interest totalling 1,180,000 shares, a decrease of 13.9% from the April 30th total of 1,370,000 shares. Currently, 2.1% of the company's stock are sold short. Based on an average daily volume of 209,200 shares, the days-to-cover ratio is presently 5.6 days.

ABIVAX Société Anonyme Stock Performance

NASDAQ:ABVX traded up $0.09 during trading hours on Thursday, reaching $8.15. The company had a trading volume of 249,294 shares, compared to its average volume of 147,813. The stock has a 50-day moving average of $6.26 and a two-hundred day moving average of $6.90. ABIVAX Société Anonyme has a one year low of $4.77 and a one year high of $14.71.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. R Squared Ltd bought a new position in ABIVAX Société Anonyme in the fourth quarter valued at about $36,000. abrdn plc lifted its position in ABIVAX Société Anonyme by 34.1% during the 4th quarter. abrdn plc now owns 424,181 shares of the company's stock valued at $3,105,000 after purchasing an additional 107,750 shares during the period. JPMorgan Chase & Co. bought a new position in shares of ABIVAX Société Anonyme in the 4th quarter valued at about $5,336,000. Franklin Resources Inc. boosted its stake in shares of ABIVAX Société Anonyme by 10.7% in the 4th quarter. Franklin Resources Inc. now owns 1,466,062 shares of the company's stock valued at $10,732,000 after purchasing an additional 141,710 shares during the last quarter. Finally, Springhill Fund Asset Management HK Co Ltd acquired a new stake in shares of ABIVAX Société Anonyme during the 4th quarter worth approximately $1,520,000. 47.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ABVX. Morgan Stanley reaffirmed an "equal weight" rating and set a $12.00 price target on shares of ABIVAX Société Anonyme in a research note on Thursday, March 20th. JMP Securities reaffirmed a "market outperform" rating and set a $33.00 price objective on shares of ABIVAX Société Anonyme in a research report on Wednesday, April 30th.

ABIVAX Société Anonyme 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.