Abivax Shares Surge by 9% and Lead the SBF 120

Significant Morning Gains as Abivax Outperforms the SBF 120

The stock is up 9.05% at €91.55, marking the highest rise in the SBF 120 by mid-morning, while the index itself is up by 0.25%. This movement extends the upward trend that began on Wednesday, June 3rd, following a drop of about 31% due to the phase 3 results of obefazimod. Both doses tested had met the main criterion of clinical remission at week 44, but several safety signals had impacted the valuation. Analysts adjusted their targets on Thursday: Stifel maintains its buy recommendation but reduces its target from €142 to €115, while Portzamparc raises its target from €63 to €70, maintaining a neutral opinion. The discrepancy between the two firms highlights the still contrasting readings of the case after phase 3. Despite today's rebound, the stock is still down 20% for the week, a direct consequence of the bleak session on June 2nd.

Technical Setup Below Moving Averages with Persistent Bearish Pressure on Capital

The price remains below its three moving averages, 10.18% under the MM20 (€101.09) and 3.97% below the MM200 (€94.55). The latter, now close to the current price, forms the first technical barrier to extend the recovery. The RSI at 41 remains in the neutral zone, without any overbought signal despite the magnitude of the rebound. The medium-term resistance is at €115.10, a level that was broken upwards at the end of May before being lost during the drop on June 2nd. According to reviewed statements, three funds remain positioned bearishly, holding 3.53% of the total capital, which is 0.82 points more than a month ago. A significant portion of the capital remains committed against the stock, indicating persistent skepticism following phase 3, yet not suggesting a wave of capitulation. Amid ongoing debates over the risk-reward ratio of obefazimod, the stock's ability to sustainably reclaim the MM200 will be the most telling indicator in the upcoming sessions.