Short Sellers Run for Cover From Major Biotechs
The March 31 short interest data have been compared with the previous report, and short interest decreased across the board in these selected biotech stocks.
The short interest data are out for the March 31 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 March 31 short interest data have been compared with the previous report, and short interest decreased across the board in these selected stocks.
Amgen Inc. (NASDAQ: AMGN) saw its short interest fall to 9.71 million shares from the previous level of 11.09 million. Shares closed most recently at $156.39, in a 52-week trading range of $130.09 to $181.81.
Biogen Inc. (NASDAQ: BIIB) had a short interest decrease to 2.52 million shares from the previous level of 2.88 million. Shares closed Monday at $265.19, within a 52-week range of $242.07 to $432.88.
Celgene Corp. (NASDAQ: CELG) short interest for this settlement date decreased to 9.99 million shares from the previous 12.22 million. Shares of Celgene closed most recently at $103.81, in a 52-week range of $92.98 to $140.72.
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Gilead Sciences Inc. (NASDAQ: GILD) saw its short interest fall to 29.07 million shares from 31.72 million in the previous period. Shares closed Monday at $95.83, in a 52-week trading range of $81.89 to $123.37.
MannKind Corp. (NASDAQ: MNKD) saw its short interest decrease to 112.04 million shares. The previous reading was 120.54 million. Shares closed most recently at $1.52, in a 52-week trading range of $0.64 to $7.32.
Alexion Pharmaceuticals Inc. (NASDAQ: ALXN) short interest decreased to 5.38 million, compared to the previous level of 5.93 million. Shares closed most recently at $147.88, in a 52-week range of $124.16 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.
