DBV Technologies Stock Breaks Key Support and Slides Over 2%
The French biotech company continues to decline at mid-session, contrary to a well-oriented Parisian market. The stock is sinking in the lower part of the SBF 120 and breaks a technical threshold monitored for several sessions, while its CEO speaks this Tuesday at the Goldman Sachs Global Healthcare conference in Miami.
Significant Drop Amidst a Generally Positive Market
DBV Technologies stock has fallen 2.25% to €2.78 by midday, while the SBF 120 has risen by 0.80%. The stock is among the largest declines of the broad index, in an otherwise favorable climate for French stocks. During the session, the price broke through its support at €2.84, which had been tested in recent days, and remains below this level. The RSI at 30 indicates the selling exhaustion of this slide, which accounts for nearly 14% over the week and more than 18% over a month. The stock is now trading below its three moving averages, with a 6.85% gap below the MM200 at €2.98, a threshold it crossed downwards last week.
Increased Selling Pressure as the Biotech Defends Its Pipeline in Miami
According to statements reviewed, two funds now cumulatively hold 2.80% of the capital sold short, compared to 1.71% a month ago. The increase of just over one point in thirty days reflects a rise in bearish pressure, although not reaching extreme levels: these bets remain to be monitored rather than dramatized. Clinically, the company announced on June 8 new positive data from the phase 3 VITESSE study on its Viaskin Peanut patch, which will be presented at the EAACI congress in Istanbul from June 12 to 15. Additionally, CEO Daniel Tassé is speaking this Tuesday at the Goldman Sachs Global Healthcare conference in Miami. Despite the recent downturn, the stock still shows a gain of more than 86% over the year. The holding or lasting break of the €2.84 zone will remain the technical reference to follow in the coming sessions.
