Genfit stock drops 28.5% over one month and slides towards support
The Lille-based biotech company specializing in hepatic and metabolic diseases remains under pressure in mid-session trading, in a declining Paris market. The pullback extends a substantial correction that began several weeks ago and has left the stock far from its main reference levels.
A stock at €8.25 far from its moving averages after a month of correction
The Genfit stock is down 1.79% at €8.25, while the SBF 120 declines by 1.33%. The stock loses 28.63% over one month and 36.05% over three months, and is trading 14.95% below its 200-day moving average, which remains the closest medium-term reference point. Support at €7.83 is located approximately 5% below the current price, and the RSI at 34.6 reflects the continuous erosion of the recent period. The stock had only advanced nearly 4% on Friday, a rebound that failed to hold against the underlying trend.
Net short positions increase to 2.30% of capital in one month
According to filed declarations, three funds cumulate 2.30% of capital sold short, compared to 1.04% thirty days ago. The increase of 1.26 percentage points in one month shows that the bearish bet has gained ground while the price was eroding, although this level, still modest, does not signal a massive movement against the stock. For results, the company published its first-half accounts on September 28, with a net loss of €26.1 million and cash reserves of €113.8 million. Analyst opinions and consensus can be found on the dedicated Genfit page.
