Health and Healthcare
Short Sellers Run for Cover From Major Biotechs
Published:
Last Updated:
The short interest data are out for the June 15 settlement date. Biotech companies are considered a riskier group of stocks, with big potential upside and big potential downside. After all, a cure or incredible new breakthrough in cancer or Alzheimer’s disease will be worth more than any risks from Brexit or political rhetoric from the campaign trail.
FDA rulings can make or break the biotech sector, and short sellers and mega-bulls often go to war against each other in these companies. After all, if a single failed clinical trial can mean disaster for a stock then some short sellers can argue for a stock implosion down the road.
24/7 Wall St. has reviewed the top biotech companies, without focusing on speculative companies. The June 15 short interest data have been compared with the previous report, and short interest moves decreased in these selected biotech stocks.
Amgen Inc. (NASDAQ: AMGN) saw its short interest fall slightly to 7.20 million shares from the previous level of 7.31 million. Shares closed most recently at $146.45, in a 52-week trading range of $130.09 to $181.81.
Biogen Inc. (NASDAQ: BIIB) had its short interest slightly decrease to 2.20 million shares from the previous level of 2.44 million. The stock closed Friday at $229.02, within a 52-week range of $229.00 to $412.24.
Celgene Corp. (NASDAQ: CELG) short interest for this settlement date decreased slightly to 8.40 million shares from the previous 8.93 million. Shares closed most recently at $96.29, in a 52-week range of $92.98 to $140.72.
Gilead Sciences Inc. (NASDAQ: GILD) saw its short interest decrease to 24.70 million shares from 26.23 million in the previous period. Shares closed Friday at $80.47, in a 52-week trading range of $80.22 to $120.37.
MannKind Corp. (NASDAQ: MNKD) saw its short interest decrease to 81.40 million shares. The previous reading was 86.48 million. Shares closed most recently at $1.25, in a 52-week trading range of $0.64 to $5.80. With MannKind’s story having largely faded, it is important to realize that this short interest is down by one-third from the end of 2015.
Alexion Pharmaceuticals Inc. (NASDAQ: ALXN) short interest decreased to 4.75 million, compared to the previous level of 5.15 million. Shares closed most recently at $112.99, in a 52-week range of $110.56 to $208.88.
Sponsored: Want to Retire Early? Here’s a Great First Step
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
