Short Sellers Run for Cover From Major Biotechs
The short interest data are out for the October 30 settlement date, and short interest fell in selected biotech stocks.
The short interest data are out for the October 30 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.
The October 30 short interest data have been compared with the previous figures, and short interest fell in these selected stocks for this settlement date.
Amgen Inc. (NASDAQ: AMGN) saw its short interest fall to 9.15 million shares from the previous level of 12.65 million. Shares closed Tuesday at $158.37, in a 52-week trading range of $130.09 to $181.81.
Biogen Inc. (NASDAQ: BIIB) had its short interest fall to 3.38 million shares from the previous 4.25 million. Shares closed Tuesday at $297.22, within a 52-week trading range of $254.00 to $480.18.
Celgene Corp. (NASDAQ: CELG) short interest for this settlement date decreased to 13.44 million shares from the previous 16.37 million. Shares of Celgene closed Tuesday at $113.77, in a 52-week range of $92.98 to $140.72.
Gilead Sciences Inc. (NASDAQ: GILD) saw its short interest fall to 26.04 million shares from 30.73 million in the previous period. Shares closed Tuesday at $108.85, in a 52-week trading range of $85.95 to $123.37.
MannKind Corp. (NASDAQ: MNKD) saw its short interest drop to 120.02 million shares. The previous reading was 124.02 million and the highest reading on the year. Shares closed Tuesday at $2.30, in a 52-week trading range of $2.20 to $7.88.
Alexion Pharmaceuticals Inc. (NASDAQ: ALXN) short interest decreased to 6.47 million from the previous level of 7.23 million. The mid-June level was far and away the highest reading on the year, and since that time shares have backed off significantly. Shares closed Tuesday at $172.38, in a 52-week range of $142.02 to $208.88.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
