Major Biotechs See Rising Tide in Short Interest

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The short interest data are out for the most recent settlement date, November 30. Generally speaking, companies within the biotech industry are considered to be a riskier group of stocks, with big potential upside and big potential downside. The health care sector in general has rallied since Donald Trump won the presidency, but now that the fate of the ACA is uncertain, the health care rally is called into question.

As we have said before, FDA rulings can make or break the biotech stocks, 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 November 30 short interest data have been compared with the previous report, and short interest in most of the selected biotech stocks increased.

Amgen Inc. (NASDAQ: AMGN) saw its short interest rise to 8.37 million shares from the previous level of 8.03 million. Shares were last seen at $174.95, in a 52-week trading range of $145.12 to $191.10.

Short interest in Biogen Inc. (NASDAQ: BIIB) increased to 3.68 million shares from the previous 3.40 million. The stock recently traded at $3286.31, within a 52-week range of $244.28 to $348.84.

Celgene Corp.’s (NASDAQ: CELG) short interest for this settlement date decreased to 11.51 million shares from the previous 12.30 million. Shares were changing hands at $108.37, in a 52-week range of $94.55 to $147.17.

Gilead Sciences Inc. (NASDAQ: GILD) saw its short interest slip to 19.63 million shares from 19.99 million in the previous period. Shares were trading at $74.68, in a 52-week trading range of $63.76 to $86.27.

The number of MannKind Corp. (NASDAQ: MNKD) shares short increased to 31.02 million. The previous reading was 30.95 million. The stock was last seen at $3.18, in a 52-week range of $0.67 to $6.96.

Alexion Pharmaceuticals Inc.’s (NASDAQ: ALXN) short interest increased to 5.05 million shares, compared to the previous level of 4.79 million. Shares were trading at $112.62, in a 52-week range of $96.18 to $149.34.