Abivax Jumps 12%, Leads the SBF 120

Stifel and Portzamparc Adjust Their Targets After Phase 3 Results

Abivax surges by 11.86% to €79.70, leading the SBF 120 while the index itself is up 0.89% during the session. The rebound follows two adjustments in recommendations published today. Stifel maintains its buy rating but lowers its price target from €142 to €115, representing a potential upside of about 44% from the current price. Portzamparc, more cautious, keeps its 'hold' recommendation and raises its target from €63 to €70. These movements come after the publication of the phase 3 ABTECT trial results announced on June 1st, in which obefazimod met its primary endpoint of clinical remission at week 44, with adjusted differences versus placebo of 39.3 and 40.3 points depending on the dose. The market initially penalized the stock by 31% on June 2nd due to safety signals observed in the 50 mg group.

Stock Still Far from Its Moving Averages, Short Positions Increase

Despite today's rebound, the price remains 22% below the 20-day moving average (€102.28) and 15% below the 200-day moving average (€94.24), traces of this week's downturn. The RSI at 32 reflects the selling exhaustion observed since Monday, as the stock still loses nearly 29% over seven days. The support at €63.10, approached at the start of yesterday's session, was ultimately not breached. Three funds now cumulatively hold 3.53% of the capital sold short, according to filings, up from 2.71% a month ago (+0.82 point). Institutional bearish pressure has thus intensified during the phase of doubt around the clinical data, without reaching extreme levels. The stock's performance remains spectacular over twelve months, with a gain exceeding 1100%. The €115 zone, former resistance and new Stifel target, becomes a medium-term technical reference.