Health and Healthcare
Major Pharma Short Interest Remains Mixed, With 1 Massive Drop
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The short interest data have been released for the April 15 settlement date. Pharmaceutical companies usually are involved in a lengthy process in getting their drug candidates to market through clinical trials. There is a fair amount of risk involved, should a study come back negative or a candidate not be approved. Conversely, if a drug is approved or passes a clinical trial, there can be big upside.
The April 15 short interest data have been compared with the previous figures, and for most of the selected pharmaceutical stocks short interest was mixed.
Pfizer Inc. (NYSE: PFE) saw its short interest massively fall to 149.82 million shares from the previous 323.94 million. The previous reading is the highest on the year. Shares of Pfizer closed Tuesday at $33.05, within a 52-week trading range of $28.25 to $36.46.
Merck & Co. Inc. (NYSE: MRK) saw an increase in short interest to 30.40 million shares from 28.66 million in the previous period. Merck shares closed Tuesday at $56.04, in a 52-week range of $45.69 to $61.70.
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