The short interest data are out for the May 29 settlement date. Biotech companies are considered a riskier group of stocks, with big upside and big downside. FDA rulings can make or break them. A single failed clinical trial can mean disaster for a stock. 24/7 Wall St. has reviewed the top biotech companies, without focusing on speculative companies.
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The May 29 short interest data have been compared with the previous figures, and for most of the selected stocks, short interest has decreased.
Amgen Inc. (NASDAQ: AMGN) saw its short interest drop to 8.60 million shares from the previous reading of 8.85 million. Shares closed Tuesday at $154.80, in a 52-week trading range of $114.93 to $173.60.
Biogen Inc. (NASDAQ: BIIB) saw its short interest decrease to 2.54 million shares from the previous 3.04 million. The company was slowly approaching the lower part of its short interest range from back in November. The current level is the third-lowest reading in the past 52 weeks. Shares closed Tuesday at $382.00, within a 52-week trading range of $290.85 to $480.18.
Celgene Corp. (NASDAQ: CELG) short interest for this settlement date decreased to 14.24 million shares from the previous 16.27 million. Since March, Celgene has recorded a few of its highest readings of the year, barring a spike last June. However, the previous level is the highest short interest reading on the year. Shares of Celgene closed Tuesday at $110.72, in a 52-week range of $79.42 to $129.06.
Gilead Sciences Inc. (NASDAQ: GILD) saw its short interest fall to 43.70 million shares from 60.05 million in the previous period. Shares closed Tuesday at $114.75, in a 52-week trading range of $78.74 to $116.83.
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MannKind Corp. (NASDAQ: MNKD) saw its short interest increase to 131.16 million shares. The previous reading was 112.95 million shares. Short interest for MannKind appears to have steadily increased to its 52 week high as investors remain pessimistic. Shares closed Tuesday at $6.70, in a 52-week trading range of $3.46 to $11.48.
Alexion Pharmaceuticals Inc. (NASDAQ: ALXN) short interest increased more than 2 million shares or so to 9.48 million, up from the previous level of 7.23 million. This current level is far and away the highest reading on the year, followed by the previous reading. Shares closed Tuesday at $159.04.12, in a 52-week range of $150.06 to $203.30.
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