Short Sellers Run for Cover From Major Biotechs
24/7 Wall St. has reviewed the top biotech companies, without focusing on speculative companies. The June 28 short interest data has been compared with the previous report, and short interest in most of these selected biotech stocks decreased.
The short interest data are out for the most recent settlement date, June 28. Generally speaking, companies within the biotech industry are considered a riskier group of stocks, with big potential upside and big potential downside.
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 June 28 short interest data has been compared with the previous report, and short interest in most of these selected biotech stocks decreased.
Amgen Inc. (NASDAQ: AMGN | AMGN Price Prediction) saw its short interest decrease to 8.70 million shares from the previous level of 9.45 million. Shares were last seen trading at $182.27, in a 52-week range of $166.30 to $210.19.
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Short interest in Biogen Inc. (NASDAQ: BIIB) decreased to 2.87 million shares from the previous 3.96 million. The stock recently traded at $232.43, within a 52-week range of $216.12 to $388.67.
Celgene Corp.’s (NASDAQ: CELG) short interest for this settlement date decreased to 9.68 million shares from the previous level of 10.87 million. Shares were changing hands at $93.59, in a 52-week range of $58.59 to $98.97.
Gilead Sciences Inc. (NASDAQ: GILD) saw its short interest drop to 11.90 million shares from 12.58 billion in the previous period. Shares were trading at $67.46, in a 52-week range of $60.32 to $79.61.
The number of MannKind Corp. (NASDAQ: MNKD) shares short grew to 39.79 million. The previous reading was 35.24 million. The stock was trading at $1.14 a share, in a 52-week range of $0.94 to $3.04.
Alexion Pharmaceuticals Inc.’s (NASDAQ: ALXN) short interest declined to 3.19 million shares from the previous 3.30 million. Shares were trading at $124.20, in a 52-week range of $92.56 to $141.86.
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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.
