ABIVAX Société Anonyme (NASDAQ:ABVX) Sees Large Growth in Short Interest

ABIVAX Société Anonyme (NASDAQ:ABVX - Get Free Report) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 1,620,000 shares, a growth of 19.1% from the March 15th total of 1,360,000 shares. Currently, 2.9% of the company's stock are sold short. Based on an average daily trading volume, of 211,900 shares, the short-interest ratio is presently 7.6 days.

ABIVAX Société Anonyme Price Performance

Shares of NASDAQ:ABVX traded down $0.18 during midday trading on Friday, hitting $6.75. The stock had a trading volume of 13,792 shares, compared to its average volume of 131,012. The business's 50-day simple moving average is $6.66 and its 200-day simple moving average is $7.64. ABIVAX Société Anonyme has a 12 month low of $4.77 and a 12 month high of $16.63.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ABVX. Morgan Stanley reissued an "equal weight" rating and issued a $12.00 target price on shares of ABIVAX Société Anonyme in a research report on Thursday, March 20th. JMP Securities reiterated a "market outperform" rating and issued a $33.00 price objective on shares of ABIVAX Société Anonyme in a report on Friday, January 10th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, ABIVAX Société Anonyme has an average rating of "Buy" and an average target price of $38.00.

Institutional Trading of ABIVAX Société Anonyme

A number of hedge funds have recently made changes to their positions in ABVX. GAMMA Investing LLC acquired a new position in shares of ABIVAX Société Anonyme in the fourth quarter valued at $29,000. R Squared Ltd acquired a new position in shares of ABIVAX Société Anonyme in the fourth quarter valued at approximately $36,000. Bank of America Corp DE increased its stake in shares of ABIVAX Société Anonyme by 56.1% during the fourth quarter. Bank of America Corp DE now owns 5,536 shares of the company's stock worth $41,000 after purchasing an additional 1,990 shares during the period. Ameriprise Financial Inc. acquired a new stake in ABIVAX Société Anonyme during the 4th quarter worth approximately $85,000. Finally, Guggenheim Capital LLC bought a new stake in ABIVAX Société Anonyme in the 4th quarter valued at $92,000. 47.91% of the stock is owned by institutional investors and hedge funds.

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.