Abivax Stock Bounces Back 6% Following a Historic Drop
The French biotech regains ground after a bleak session that saw its share price plummet by about 31%. The stock is attempting a technical stabilization in a slightly bearish Parisian market. However, short sellers maintain a visible presence in the capital.
A Technical Rebound Among the Strongest Gains in the SBF 120
Abivax stock is up 6% at €67 midday, among the strongest gains in the SBF 120, just behind Valeo. The rebound comes the day after a 31% collapse following the phase 3 ABTECT results on obefazimod in ulcerative colitis. As a reminder, the trial met its primary endpoint with adjusted differences versus placebo of 39.3 and 40.3 points for the 25 mg and 50 mg doses, respectively, but several cases of cancer or precancerous lesions observed overshadowed this clinical success. The session remains volatile: the stock broke through its support at €63.10 in the morning to a low of €60.45, before climbing back above. The RSI at 24 indicates seller exhaustion after a weekly tumble of nearly 40%. However, the price remains significantly below its medium-term benchmarks, about 36% under the MM20 (€104.22) and nearly 30% under the MM200 (€94.18), indicating that the technical breakdown is still profound despite today's rebound.
Short Selling Pressure Remains Amid Clinical Data Release
According to reviewed statements, three funds collectively hold 3.53% of Abivax's capital sold short, a level that has increased by 0.82 points in a month (from 2.71% thirty days ago). This increase occurred in the window that preceded and followed the clinical data release, reflecting ongoing bearish pressure on the stock. This level, above the 3% threshold where institutional bearish bets become significant, warrants ongoing monitoring: it signals that a notable portion of investors remain positioned against the stock following the phase 3 sanction. On the stock market front, the annual performance remains staggering, at over 1100%, a legacy of last year's bullish sequence. Today's rebound is part of a marked oversold configuration, with the price now far below all its moving averages. The €63.10 level, tested downward this morning, becomes the immediate technical benchmark for the stock.
