Abivax stock drops 12.9% over one month as shorts cover positions
The biotech company specializing in immunology of inflammatory diseases fell back into negative territory on Thursday, erasing part of the rebound from the two previous sessions. The decline reflects a deteriorated technical configuration, with the stock remaining well below its three moving averages while the Paris market itself is under pressure.
A decline that brings the stock back to €85 under a triple ceiling of moving averages
Abivax fell 3.19% to €85 during the session, in an SBF 120 that itself declined 1.43% amid tensions over French government debt, with the ten-year OAT yield reaching 4.86%, a high not seen since 2008. This decline moves the stock away from the resistance threshold at €103.30, now far above the current price. The technical situation is constrained: the 20-day MA at €92.22 and the 50-day MA at €100.59 cap any rebound attempts, with the price trading respectively 7.83% and 15.50% below these two references.
The RSI at 40, still well below the oversold zone but trending lower since Wednesday's rebound, confirms that selling momentum is not exhausted. The support level at €81.45, tested at the end of September, remains the only level likely to limit any further decline.
Barcelona Congress in focus and short positions in sharp decline over one month
On the recent news front, seven abstracts dedicated to obefazimod have been selected for UEG Week 2026, an international gastroenterology congress scheduled for Barcelona in October. These presentations, announced on September 30, cover the bulk of the clinical and preclinical program for ulcerative colitis, an element of scientific visibility that fails to reverse today's downward pressure. Regarding net short positions, four funds account for 4.57% of capital sold short according to filed declarations, down 2.48 percentage points over thirty days (compared to 7.05% one month ago).
This easing is notable: it reflects a partial covering of bearish positions, without bringing this level back to negligible levels. A bearish bet exceeding 4% of capital suggests that several institutional players remain positioned against the stock, even if pressure has eased significantly. The UEG Week session, scheduled for October in Barcelona, will be a moment of visibility for obefazimod before the international gastroenterology community.
