Abivax Shares Drop Nearly 2% but Still Up 33% Over the Week
The French biotech takes a breather after a sharp rebound in previous sessions. The stock is part of a declining Parisian market, amid a resurgence of global volatility and geopolitical tensions. Short sellers have also significantly increased their exposure to the capital in recent weeks.
Abivax Shares Drop 1.98% to €84.10, Down from €85.80
Abivax shares fell 1.98% to €84.10, down from €85.80 at the previous close. The movement comes as the CAC 40 drops 0.51% and the VIX soars 15% to 21.76, indicating increased market nervousness.
The day's decline is part of a broader consolidation: the stock has lost over 20% over a month, despite a 33% rise over the week following the positive phase 3 results of obefazimod published on June 1. Over a year, the performance remains exceptional, exceeding 1,100%.
The price is now below its three moving averages (MM20 at €98.56, MM50 at €99.87, MM200 at €94.90), with a gap of nearly 15% below the MM50. The RSI at 43 remains neutral, sending no strong directional signal, stabilizing the stock halfway between its support at €63.10 and its resistance at €115.10.
Short Positions Rise to 5.61% of Capital Amid Increased Volatility
The bearish bet on the stock has significantly strengthened: four funds now cumulatively hold 5.61% of the capital sold short, according to the statements reviewed, up from 2.59% a month ago. A three-point increase in thirty days reflects rising selling pressure, following the volatile sequence after the phase 3 publication.
This level, above the 3% threshold, indicates that a significant portion of institutional investors remain positioned against the stock. While their exact motivations are unclear, the movement is worth monitoring as the one-month volatility stands at 58.57, indicating a high range of variation.
The company is also dual-listed in Paris (ordinary shares) and on the Nasdaq (ADS), with a volume about four times higher overseas. The next technical milestone to watch is the 200-day moving average around €94.90, whose reconquest would condition a return to the resistance zone around €115.
