On July 30, AbbVie declined 3.15% in regular trading, trading at $255.805 per share, with turnover of $342 million. The drop occurred amid a broad selloff across the biotechnology sector ahead of the company's Q2 earnings release scheduled for July 31.

The biotech sector experienced significant selling pressure on the session, with Alnylam Pharmaceuticals plunging over 26%, Madrigal Pharmaceuticals falling more than 12%, Gilead Sciences declining over 2%, and Amgen dropping nearly 2%. The sector-wide weakness weighed heavily on AbbVie despite a constructive fundamental backdrop.

Market consensus expects AbbVie to report Q2 revenue of approximately $167.60 billion, representing 11.54% year-over-year growth, with adjusted EPS of $3.57 to $3.61, implying over 24% growth. Following a series of positive catalysts including Barclays raising its price target to $300, EU approvals for RINVOQ in vitiligo, Epcoritamab combination therapy authorization, and the $10.9 billion Apogee acquisition, the stock had rallied significantly in prior sessions, making it susceptible to profit-taking ahead of results.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)