Genfit stock surges 25.5% over the week and targets €12
The Lille-based biotech company specializing in hepatic and metabolic diseases rebounds sharply in mid-morning trading, while the Paris stock exchange remains stable. The stock ranks among the strongest gainers on the index and extends a recovery initiated last week.
A rebound of 25.5% over the week that erases recent decline
After a difficult session on October 22, the Genfit stock gains 6.81% to €11.30, placing it in second place on the SBF 120, behind Worldline. Over seven days, the advance reaches 25.56%, and the monthly gain of 26.68% substantially reduces the past correction, even though the stock remains down 17.16% over three months.
The price now stands above the MA20 (€8.92, difference of +26.68%) and above the MA50 (€11.06, difference of +2.17%), reflecting a rapid return above its short and medium-term benchmarks.
The RSI at 63 accompanies this recovery, without any overbought signal. The €12 level, identified as a resistance threshold, is situated at approximately 6% from the current price.
Short positions up by 1.03 points over one month
Net short positions are not absent from the file: three funds cumulate 2.30% of capital, compared to 1.27% thirty days ago, according to consulted declarations.
The progression of 1.03 points in one month remains modest in absolute terms, but it indicates that institutional investors have positioned themselves more on the downside, or have sought to hedge an exposure, during the correction.
Within this framework, a rebound of this magnitude can also be attributed to short covering, although no data allows us to confirm it. The Paris market, meanwhile, is barely moving, with the CAC 40 nearly unchanged at 7,885.16 points during the session. The next level to watch is the €12 resistance, which the stock has not yet tested.
