Down 38.5% over the quarter, Genfit stock rebounds nearly 2%
The Lille-based biotech is posting a modest rebound this morning after a month of severe correction. The movement occurs in a Paris market oriented towards gains, while short sales on the stock have risen significantly.
A limited rebound after a month of sharp correction and a stock trading below its averages
The Genfit share gains 1.8% to €8.48 during trading, while the SBF 120 rises 0.98%. The surge remains modest compared to the 35.27% decline recorded over one month, which is therefore only partially offset. The stock is trading 17.67% below its 20-day moving average, 31.72% below its 50-day moving average and 11.76% below its 200-day moving average, indicating a deteriorated trend across all timeframes.
The RSI at 27 reflects the exhaustion of selling pressure over recent weeks, while the support level at €8.33 remains close to the current price, approximately 1.8% below. Over one year, the gain remains at 145.5%, placing the recent correction within an annual trajectory that is still highly bullish.
Short sales progressing and recent history marked by decline sessions
According to the declarations consulted, the cumulative net short position reaches 2.14% of capital, distributed among three funds, with the latest declaration dated October 5. This level, rising rapidly over thirty days, shows that some institutional investors remain positioned for a downturn, even if the scale of the bet remains contained. The stock joined the SBF 120 on September 18, then followed with declines: worst performer in the index on September 24, sharp rebound on September 28 ahead of the publication of half-year results, then further decline following these results.
These showed Iqirvo royalties rising sharply to €21 million and a net loss of €26.1 million. The price is now approaching the €8.33 support level, a threshold tested earlier in the week.
