DBV Technologies Stock Breaks Its €2.45 Support and Falls Further by 3%
The French biotech continues its slide during the session, moving against the trend of an already heavily declining SBF 120. The stock is sinking below its moving averages, just days after filing a prospectus for raising funds on the American market. The publication of the half-yearly accounts is approaching.
An Oversold Stock Breaking All Technical Supports
DBV Technologies stock loses 3.18% at €2.376, down from €2.454 the previous day. The decline brings the weekly drop to 14% and the three-month fall to nearly 29%. The stock is now trading below its three moving averages, with a gap of 14.22% below the MM20 (€2.77) and 25% below the MM200 (€3.17), indicating a clearly deteriorated underlying trend. The RSI at 30 reflects the selling exhaustion of recent sessions, while confirming the persistent pressure on the stock. The €2.45 support, broken during the session, leaves the stock without any intermediate technical zone until reaching recent lows. The momentum remains heavy as the SBF 120 loses more than 1%.
$150M ATM Program and Short Positions Around 3.2% of Capital
The situation is still marked by the filing of an At-The-Market prospectus approved by the AMF on July 17, which allows DBV to gradually sell ADS on the Nasdaq for a maximum amount of $150 million. This type of program, which can be mobilized according to market conditions, maintains a dilution factor that investors take into account in the valuation. According to reviewed statements, the cumulative short position on the stock reaches 3.21% of the capital, distributed among three funds. The level, down by 0.73 points over thirty days, remains high and reflects an institutional caution that has not dissipated, but has not recently intensified either. The biotech will publish its half-year results on July 29, the next concrete appointment to assess the financial trajectory before the submission of the BLA for Viaskin Peanut, expected in the third quarter with the FDA.
