NEW YORK, December 31, 2025, 11:19 ET — Regular session
- Abivax’s U.S.-listed shares slipped in late morning trade, giving back part of a recent run-up
- The stock has swung sharply this month amid takeover talk and index-related flows
- Investors are watching for any fresh comment on strategic interest and the next obefazimod data updates
Abivax Société Anonyme’s U.S.-listed American depositary shares (ABVX) fell about 3.8% to $133.04, down roughly $5.30 from Tuesday’s close, in late morning trade on Wednesday. The shares opened at $138 and swung between $132.13 and $140.25, with about 348,000 shares traded.
The pullback keeps the spotlight on ABVX after takeover chatter earlier this month. Reuters reported on Dec. 10 that Abivax jumped on market rumours that Eli Lilly could make an offer, and Stifel analyst Damien Choplain said the “share price movement is driven by speculation around a possible takeover.” Reuters
U.S. stocks were slightly lower in the year’s final session, a backdrop that can magnify moves in higher-volatility names. The S&P 500 ETF (SPY) was down about 0.35%, while biotech ETFs were mixed, with the SPDR S&P Biotech ETF (XBI) up around 0.2% and the iShares Nasdaq Biotechnology ETF (IBB) down about 0.1%.
Abivax has also seen index-related attention after it said it would be added to the Nasdaq Biotechnology Index, effective prior to market open on Dec. 22. That type of inclusion can trigger buying from funds that track the benchmark, adding to day-to-day volatility.
The company’s core narrative remains obefazimod, its lead drug candidate for inflammatory bowel disease. Abivax said on Dec. 17 it plans to present 22 abstracts on the program at the European Crohn’s and Colitis Organisation’s 2026 congress in Stockholm in February, including subgroup analyses from Phase 3 ABTECT induction trials in ulcerative colitis.
Phase 3 is the late-stage testing companies typically need before seeking approval from regulators. Ulcerative colitis is a chronic disease in which the immune system drives inflammation and ulcers in the colon, and it can flare unpredictably.
A Dec. 15 filing showed Abivax had cash and cash equivalents of 589.7 million euros as of Sept. 30 and said it expected to fund forecast cash needs into the fourth quarter of 2027. The company also said it expected to complete a planned repayment of remaining tranches of its Kreos/Claret financing before Dec. 31, following a July U.S. public offering that brought in about $747.5 million in gross proceeds.
Analysts have framed upcoming longer-duration data as a key check on the drug’s durability. Guggenheim analyst Yatin Suneja raised his price target to $175 from $150 on Dec. 18 and kept a Buy rating, citing an “optimistic outlook” for an upcoming 44-week maintenance readout. TipRanks
For now, Wednesday’s dip looked like year-end positioning colliding with a stock that has been trading on headline risk. After a surge driven by deal talk, even small shifts in sentiment can prompt sharp reversals.
Traders will be watching for any fresh statement from Abivax or potential suitors that clarifies whether the takeover narrative has substance. They will also look ahead to the next scheduled scientific disclosures around obefazimod as the company pushes to broaden the dataset behind its late-stage program.
On the chart, ABVX’s swing back toward the low-$130s puts focus on whether buyers defend recent breakout territory, while last week’s highs sit as the near-term ceiling. A decisive move either way could draw momentum traders back into the name.
