Health and Healthcare
Short Sellers Take Mixed Stance on Major Pharma
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The short interest data have been released for the May 13 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 May 13 short interest data have been compared with the previous figures, and for the selected pharmaceutical stocks short interest was mixed.
Pfizer Inc. (NYSE: PFE) saw its short interest drop to 84.20 million shares from the previous 108.39 million. Shares of Pfizer closed Tuesday at $34.10, within a 52-week trading range of $28.25 to $36.46.
Merck & Co. Inc. (NYSE: MRK) had a slight increase in short interest to 27.87 million shares from 27.68 million in the previous period. Merck shares closed Tuesday at $55.60, in a 52-week range of $45.69 to $61.70.
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