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

Key Points

• Short Interest Growth: Abivax SA's short interest grew by 28.7% in July, reaching a total of 1,840,000 shares, which accounts for 2.8% of its outstanding shares.
• Stock Performance: ABVX shares opened at $71.89, with a 52-week range between $4.77 and $75.51, and a current debt-to-equity ratio of 1.29.
• Positive Analyst Ratings: Multiple analysts have increased their price targets for Abivax, with Piper Sandler setting the highest target at $112.00, indicating a bullish outlook for the stock.

Abivax SA Sponsored ADR (NASDAQ:ABVX - Get Free Report) was the recipient of a large increase in short interest during the month of July. As of July 31st, there was short interest totaling 1,840,000 shares, anincreaseof28.7% from the July 15th total of 1,430,000 shares. Based on an average daily volume of 1,200,000 shares, the days-to-cover ratio is presently 1.5 days. Approximately2.8% of the company's shares are sold short. Approximately2.8% of the company's shares are sold short. Based on an average daily volume of 1,200,000 shares, the days-to-cover ratio is presently 1.5 days.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Piper Sandler raised their price target on shares of Abivax from $70.00 to $112.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Citigroup restated a "market outperform" rating on shares of Abivax in a report on Friday, July 18th. Lifesci Capital raised their price target on shares of Abivax from $45.00 to $101.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. Morgan Stanley upgraded shares of Abivax from an "equal weight" rating to an "overweight" rating and set a $71.00 price target for the company in a report on Wednesday, July 23rd. Finally, JMP Securities raised their price target on shares of Abivax from $33.00 to $95.00 and gave the stock a "market outperform" rating in a report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $92.33.

Abivax Price Performance

Shares of NASDAQ:ABVX traded up $2.24 during mid-day trading on Tuesday, hitting $79.70. The company had a trading volume of 1,721,366 shares, compared to its average volume of 1,163,546. The firm has a fifty day moving average price of $39.57 and a 200 day moving average price of $18.10. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.25 and a current ratio of 1.25. Abivax has a one year low of $4.77 and a one year high of $80.00.

Institutional Trading of Abivax

Several hedge funds have recently modified their holdings of the stock. Bank of America Corp DE grew its position in Abivax by 56.1% in 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 period. HighVista Strategies LLC grew its position in Abivax by 4.3% in the 2nd quarter. HighVista Strategies LLC now owns 51,156 shares of the company's stock valued at $391,000 after purchasing an additional 2,092 shares during the period. Cubist Systematic Strategies LLC grew its position in Abivax by 34.3% in 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 period. BNP Paribas Financial Markets grew its position in Abivax by 47.5% in the 4th quarter. BNP Paribas Financial Markets now owns 19,244 shares of the company's stock valued at $141,000 after purchasing an additional 6,200 shares during the period. Finally, Ameriprise Financial Inc. acquired a new stake in Abivax in the 4th quarter valued at $85,000. 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.