ABIVAX Société Anonyme (NASDAQ:ABVX) Short Interest Down 29.5% in April

ABIVAX Société Anonyme (NASDAQ:ABVX) saw a significant drop in short interest during the month of April. As of April 15th, there was short interest totalling 113,800 shares, a drop of 29.5% from the March 31st total of 161,500 shares. Based on an average daily volume of 74,700 shares, the days-to-cover ratio is presently 1.5 days. Currently, 0.2% of the shares of the company are short sold.

ABIVAX Société Anonyme Stock Performance

Shares of ABVX opened at $15.78 on Friday. ABIVAX Société Anonyme has a twelve month low of $7.99 and a twelve month high of $17.02. The firm has a 50 day simple moving average of $14.44.

Analysts Set New Price Targets

Separately, Morgan Stanley raised their price target on ABIVAX Société Anonyme from $15.00 to $16.00 and gave the stock an “equal weight” rating in a report on Thursday, April 11th.

Institutional Investors Weigh In On ABIVAX Société Anonyme

Institutional investors have recently added to or reduced their stakes in the business. Capstone Investment Advisors LLC acquired a new stake in shares of ABIVAX Société Anonyme during the 4th quarter valued at approximately $618,000. Ghisallo Capital Management LLC acquired a new stake in shares of ABIVAX Société Anonyme during the 4th quarter valued at approximately $642,000. Rosalind Advisors Inc. acquired a new stake in shares of ABIVAX Société Anonyme during the 1st quarter valued at approximately $5,411,000. Franklin Resources Inc. acquired a new stake in shares of ABIVAX Société Anonyme during the 4th quarter valued at approximately $13,630,000. Finally, Great Point Partners LLC acquired a new stake in shares of ABIVAX Société Anonyme during the 4th quarter valued at approximately $16,585,000. Hedge funds and other institutional investors own 47.91% of the company’s stock.

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 modulate 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.