Abivax SA Sponsored ADR (NASDAQ:ABVX) Short Interest Down 31.9% in September

Abivax SA Sponsored ADR (NASDAQ:ABVX) was the target of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totaling 1,240,000 shares, a decrease of 31.9% from the September 15th total of 1,820,000 shares. Based on an average trading volume of 1,720,000 shares, the days-to-cover ratio is presently 0.7 days. Currently, 1.8% of the company’s stock are sold short. Currently, 1.8% of the company’s stock are sold short. Based on an average trading volume of 1,720,000 shares, the days-to-cover ratio is presently 0.7 days.

Abivax Stock Performance

ABVX stock opened at $90.47 on Friday. Abivax has a 52-week low of $4.77 and a 52-week high of $98.64. The company has a 50-day moving average of $84.34 and a two-hundred day moving average of $41.03.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ABVX shares. Piper Sandler upped their price target on shares of Abivax from $70.00 to $112.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. JMP Securities increased their target price on shares of Abivax from $95.00 to $114.00 and gave the stock a “market outperform” rating in a research report on Thursday, September 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Abivax in a research report on Wednesday, October 8th. Citigroup reissued an “outperform” rating on shares of Abivax in a research report on Thursday, September 25th. Finally, Wall Street Zen raised shares of Abivax from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Abivax has a consensus rating of “Moderate Buy” and a consensus target price of $114.25.

Institutional Investors Weigh In On Abivax

A number of hedge funds have recently bought and sold shares of the company. ADAR1 Capital Management LLC boosted its holdings in Abivax by 46.0% during the first quarter. ADAR1 Capital Management LLC now owns 2,210,019 shares of the company’s stock valued at $13,813,000 after acquiring an additional 696,626 shares during the period. Nantahala Capital Management LLC boosted its holdings in Abivax by 3.3% during the first quarter. Nantahala Capital Management LLC now owns 1,482,994 shares of the company’s stock valued at $9,269,000 after acquiring an additional 46,947 shares during the period. Octagon Capital Advisors LP boosted its holdings in Abivax by 3.0% during the second quarter. Octagon Capital Advisors LP now owns 1,267,000 shares of the company’s stock valued at $9,693,000 after acquiring an additional 37,000 shares during the period. Allostery Investments LP boosted its holdings in Abivax by 86.0% during the first quarter. Allostery Investments LP now owns 1,099,654 shares of the company’s stock valued at $6,873,000 after acquiring an additional 508,401 shares during the period. Finally, Millennium Management LLC lifted its stake in shares of Abivax by 6.0% in the first quarter. Millennium Management LLC now owns 987,414 shares of the company’s stock valued at $6,171,000 after buying an additional 56,235 shares during the period. 47.91% of the stock is currently owned by institutional investors.

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.