Short Sellers Run for Cover From Major Biotechs

Health and Healthcare

Published: November 25, 2015 9:06 am

Last Updated: January 13, 2020 4:46 pm

The short interest data are out for the November 13 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 November 13 short interest data have been compared with the previous report, and short interest fell in these selected stocks for this settlement date.

Amgen Inc. (NASDAQ: AMGN) saw its short interest fall to 7.80 million shares from the previous level of 9.15 million. Shares closed Tuesday at $162.78, in a 52-week trading range of $130.09 to $181.81.

Biogen Inc. (NASDAQ: BIIB) had its short interest fall to 3.04 million shares from the previous 3.38 million. Shares closed Tuesday at $289.15, within a 52-week trading range of $254.00 to $480.18.

Celgene Corp. (NASDAQ: CELG) short interest for this settlement date decreased to 10.52 million shares from the previous 13.44 million. Shares of Celgene closed Tuesday at $112.67, in a 52-week range of $92.98 to $140.72.

Gilead Sciences Inc. (NASDAQ: GILD) saw its short interest fall to 25.09 million shares from 26.04 million in the previous period. Shares closed Tuesday at $106.57, in a 52-week trading range of $85.95 to $123.37.

MannKind Corp. (NASDAQ: MNKD) saw its short interest increase to 120.55 million shares. The previous reading was 120.02 million. The current reading is the one of the highest readings of the year. Shares closed Tuesday at $2.20, in a 52-week trading range of $1.76 to $7.88.

Alexion Pharmaceuticals Inc. (NASDAQ: ALXN) short interest increased to 6.71 million from the previous level of 6.47 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 $177.80, in a 52-week range of $142.02 to $208.88.

ALSO READ: Nasdaq Companies with Largest Short Interest

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