Abivax

ABVX

Market cap $7.18B

The heavy selling pressure might have exhausted for Abivax SA Sponsored ADR (ABVX) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal.

Jefferies downgraded Abivax from Buy to Hold and slashed its price target by nearly 44% after rare cancer cases emerged in the company's Phase 3 ulcerative colitis trial -- shares more than 40% of their value in a single session. NEW YORK, June 2, 2026 /PRNewswire/ -- Abivax (NASDAQ: ABVX) shareholders more than to 40% of their investment value on June 2, 2026, as the stock plunged from a pre-announcement close of approximately $129.69 to as low as $71 per share midday after rare malignancy cases surfaced in the company's Phase 3 ABTECT ulcerative colitis trial for obefazimod.

ABIVAX Société Anonyme (ABVX) Discusses Positive Phase III ABTECT Trial Results for Obefazimod in Ulcerative Colitis Transcript

The biotech said some patients developed cancer in a late-stage clinical trial for the bowel-disease drug that were unrelated to the treatment.

Abivax shares fell 31% even after the French biotech reported strong late-stage data for obefazimod, its experimental treatment for ulcerative colitis. The once-daily oral therapy met the main goal and all key secondary endpoints in a Phase 3 maintenance study, strengthening the case for a potential new option in a market still led by injectable biologics and other advanced treatments.

Abivax shares tumbled on Tuesday after the French biotech reported late-stage data for its experimental inflammatory bowel drug, with investors focusing on safety concerns even as the treatment ​showed strong efficacy.

Biotech takeover target Abivax sinks over 30% after bowel disease drug trial update

Abivax said on Monday its experimental drug for patients with ulcerative colitis, a type of chronic inflammatory disease, met the main goal ​of a closely watched late-stage trial.

Abivax stock crashed Monday after several patients developed cancer following a study of its ulcerative colitis treatment.

Abivax Announces Landmark Phase 3 ABTECT Maintenance Trial Results Evaluating Obefazimod in Moderately to Severely Active Ulcerative Colitis