Abivax Stock Remains Stuck Below €118 Despite Volatility

Resistance Breakthrough at €115.10 Quickly Reversed During the Session

Abivax is down 2.95% at €111.70 by late morning, after having breached its resistance at €115.10 to reach a session high of €118. The stock then fell back below the crossed threshold, characterizing a false bullish signal. This movement places the stock among the largest declines in the SBF 120, in an index that is down 1.02%. The session occurs in a tense macro context: the French Flash Composite PMI dropped to 43.5 in May, the lowest since November 2020, weighing on risk appetite. Despite today's decline, the price remains 9% above the MM20 (€102.41) and 20% above the MM200 (€92.85), indicating an underlying bullish trend. The RSI at 65 confirms the momentum without signaling immediate overheating. Over the week, the stock maintains a gain of nearly 17%, and its annual performance exceeds 2,100%.

Solid Clinical Data but Increased Cash Burn in Q1

The session also follows the publication of the first quarter 2026 results, unveiled on May 22. The biotech confirmed the sustained efficacy of obezafimod in ulcerative colitis, with 68% of patients in clinical remission at a reduced dose after three years. However, the operational loss widened to €56.2 million from €47.2 million a year earlier, due to an increase of €10.2 million in R&D expenses. The cash position of €491.6 million still provides visibility until the fourth quarter of 2027. During this release, the company confirmed the launch of a Phase 3 maintenance trial ABTECT for ulcerative colitis by the end of June. Regarding bearish bets, two funds accumulate 2.35% of the capital sold short according to the consulted declarations, a level down by 0.46 point over thirty days. The selling pressure remains contained and has not intensified despite the recent surge in the stock. The €115.10 threshold, tested then ceded this Tuesday, becomes the immediate technical reference.