Abivax shares rebound 2% but are down 30.5% over the quarter
The Paris-based biotech specialised in inflammatory diseases is gaining ground at midday, in a well-oriented Parisian market. This rebound follows a very difficult quarter and several sessions of selling pressure, which have left the stock well below its long-term benchmarks.
A rebound that brings the stock back to its 20-day moving average
Abivax shares gain 1.99% to €79.25, after closing the previous day at €77.70, and are now close to their MM20 (€79.57, a gap of 0.40%).
The move coincides with the SBF 120 rising 1.04%, but the stock still lags behind its longer-term benchmarks: it remains 6.85% below its MM50 (€85.08) and more than 19% below its MM200 (€98.18).
The stock shows a performance of 4.21% over seven days, but still loses 30.54% over three months. This momentum contrasts with previous sessions, when the €76.05 support had been broken early last week, before the price moved back above it.
Short bets rise to 5.59% of the share capital
Five funds together hold 5.59% of the share capital sold short according to the disclosures reviewed, compared with 5.35% thirty days earlier, an increase of 0.24 points. This increase remains modest: it does not reflect a massive loss of confidence, but indicates that a portion of institutional investors remains positioned against the stock, which may amplify sharp moves in the event of a recovery.
Abivax is a single company listed on two exchanges, Euronext Paris and the Nasdaq, where its shares trade as ADSs, at a ratio of one ADS per ordinary share. Both lines quote at the same price, the US market being roughly four times more liquid than Paris. In terms of levels, resistance is at €87.80 and support at €76.05.
