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. Shareholders who lost money on ABVX are encouraged to submit their information to SueWallSt. You may also contact Joseph E. Levi, Esq. via email at jlevi@SueWallSt.com or by telephone at (888) SueWallSt.
The market reaction was swift and severe. Trading volume surged to more than eight times the daily average on June 2. Jefferies downgraded ABVX from Buy to Hold and cut its price target from $160 to $90 -- a 43.75% reduction -- citing the cancer signal as a material overhang on the stock's outlook. Short interest climbed to approximately 12% of the float within 24 hours of the disclosure.
Notably, the stock had initially rallied approximately 20% in after-hours trading on June 1 when the Phase 3 efficacy data were first released. Within hours, as the rare malignancy cases in the treatment arm received broader coverage, the rally reversed entirely and shares collapsed through the prior close. By the midday trading on June 2, ABVX had fallen more than 45%, erasing all gains since mid-August, 2025.
If you purchased Abivax shares and suffered a loss, click here to discuss your legal rights. You may also contact Joseph E. Levi, Esq. via email at jlevi@SueWallSt.com or by telephone at (888) SueWallSt.
ABOUT THE FIRM -- For over two decades, SueWallSt has represented shareholders in securities investigations and recoveries. Ranked in ISS Top 50 for seven consecutive years.
Frequently Asked Questions About the ABVX Investigation
Q: Who is conducting the ABVX investigation? A: SueWallSt is investigating potential securities law violations on behalf of investors who purchased ABVX securities. The firm is nationally recognized, ranked in the ISS Top 50 for seven consecutive years, and has recovered hundreds of millions of dollars for aggrieved investors.
Q: How much did ABVX stock drop? A: Shares fell approximately 40-45% -- a decline of nearly $60 per share from the previous day's close -- after the company disclosed rare cancer cases in its Phase 3 ulcerative colitis trial. Investors who purchased shares before the disclosure may be eligible for recovery.
Q: Which statements are being investigated as potentially misleading? A: The investigation concerns whether Abivax adequately disclosed material safety risks associated with the Phase 3 ABTECT trial for obefazimod. When the cancer signal received broader attention, the stock price declined sharply.
Q: What do ABVX investors need to do right now? A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact SueWallSt for a free, no-obligation evaluation at jlevi@SueWallSt.com or (888) SueWallSt. No immediate action is required to remain eligible to participate in the investigation.
Q: What does it cost me to participate? A: Nothing. Securities investigations are handled on a pure contingency basis. No upfront fees, no retainer, no out-of-pocket costs.
Q: What if I already sold my ABVX shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought ABVX and sold at a loss may still participate in the investigation.
Q: Do I need to go to court or give testimony? A: No. Participating in the investigation does not require court appearances or depositions.
CONTACT:
SueWallSt
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
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New York, NY 10004
jlevi@SueWallSt.com
Tel: (888) SueWallSt
Fax: (212) 363-7171
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SOURCE SueWallSt.com
