Health and Healthcare
Short Sellers Become More Selective on Major Biotechs
Published:
Last Updated:
The short interest data are out for the June 30 settlement date. Biotech companies are considered a riskier group of stocks, with big potential upside and big potential downside. In fact, 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 30 short interest data have been compared with the previous report, and short interest moves were mixed in these selected biotech stocks.
Amgen Inc. (NASDAQ: AMGN) saw its short interest rise to 7.80 million shares from the previous level of 7.20 million. Shares closed most recently at $161.96, in a 52-week trading range of $130.09 to $181.81.
Biogen Inc. (NASDAQ: BIIB) had its short interest increase to 2.49 million shares from the previous 2.20 million. The stock closed Tuesday at $253.36, within a 52-week range of $223.02 to $412.24.
Celgene Corp. (NASDAQ: CELG) short interest for this settlement date decreased slightly to 8.31 million shares from the previous 8.40 million. Shares closed most recently at $103.41, in a 52-week range of $92.98 to $140.72.
Gilead Sciences Inc. (NASDAQ: GILD) saw its short interest decrease to 22.21 million shares from 24.70 million in the previous period. Shares closed Tuesday at $86.63, in a 52-week trading range of $77.92 to $120.37.
MannKind Corp. (NASDAQ: MNKD) saw its short interest increase to 85.96 million shares. The previous reading was 81.40 million. Shares closed most recently at $1.13, in a 52-week trading range of $0.64 to $5.80.
Alexion Pharmaceuticals Inc. (NASDAQ: ALXN) short interest decreased ever so slightly to 4.74 million, compared to the previous level of 4.75 million. Shares closed most recently at $125.35, in a 52-week range of $110.56 to $208.88.
Smart Investors Are Quietly Loading Up on These “Dividend Legends” (Sponsored)
If you want your portfolio to pay you cash like clockwork, it’s time to stop blindly following conventional wisdom like relying on Dividend Aristocrats. There’s a better option, and we want to show you. We’re offering a brand-new report on 2 stocks we believe offer the rare combination of a high dividend yield and significant stock appreciation upside. If you’re tired of feeling one step behind in this market, this free report is a must-read for you.
Click here to download your FREE copy of “2 Dividend Legends to Hold Forever” and start improving your portfolio today.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
