Genfit stock leads SBF 120, short sellers strengthened
The Lille biotech company specializing in hepatic and metabolic diseases achieves the best score on the Paris index, in a declining market. This rebound comes after several weeks of severe correction, which had left the stock far from its benchmarks. Short sellers have reinforced their positions in recent weeks.
A rebound that brings the stock back to its 20-day moving average
While the SBF 120 falls 0.62%, the Genfit stock gains 7.58% to €8.94 and occupies the first place on the index, ahead of Nanobiotix (+6.95%). The stock had fallen to the vicinity of its support at €7.83; it is now positioned less than 1% from its 20-day moving average (€8.99), which it has not yet reclaimed, while the 50-day moving average stands at €11.59. The RSI at 34 reflects fragile momentum following the -22.66% correction over one month. On a weekly basis, the gain reaches 6.3%, which only partly offsets the monthly decline.
Short positions rise to 2.3% of capital in one month
Net declared short positions on the stock total 2.30% of capital, distributed among three funds, or 1.26 percentage points higher than a month ago (1.04%). The last consulted declaration is dated October 12. This rapid progression indicates that some market participants have positioned themselves downward during the correction.
This level remains modest as a proportion of capital, and today's rebound occurs in this context. On the agenda side, half-year results were published on September 28, with cash reserves of €113.8 million and Iqirvo royalties showing strong growth.
