Abivax shares fall below €76.05 support and drop nearly 32% over three months
The Paris-based biotech specialising in inflammatory diseases is trading lower at midday, in a Paris session that is clearly tilted to the downside. The decline follows an already very difficult quarter and a technical breakdown.
A €76.05 support broken in a declining Paris market
Abivax shares are down 3.8% at €74.70, while the SBF 120 index falls 1.64%. The stock is among the index's largest decliners. The share has broken below its lowest level of the past 30 sessions, at €76.05, a level that now becomes resistance, while the price remains below its three moving averages.
The price remains below its three moving averages: the MM20 at €79.36 sits 5.87% above the price, the MM50 at €85.82 sits 12.96% above, and the MM200 at €98.34 sits 24.04% above. The decline occurs amid strong risk aversion, following Wall Street's correction on Thursday (-5.52% for the Nasdaq), which spread to Europe on Friday. Over three months, the stock has lost 31.53%.
Five funds hold 5.59% of the capital sold short
On the short side, five funds together hold 5.59% of the capital according to the disclosures reviewed, up 0.43 points over 30 days (from 5.16% previously). This level indicates that institutional investors remain positioned for a decline in the stock, without the recent increase reflecting a massive movement.
Abivax is listed on two markets: the ordinary share in Paris and the ADS on the Nasdaq (1 ADS = 1 share), which trade at the same price. The Nasdaq, the market most affected by Thursday's technology correction, accounts for the bulk of trading volumes. The RSI at 37 remains neutral. The next reference level is support at €63.10.
