Major Biotechs Scare Off Short Sellers
The August 14 short interest data has been compared with the previous report, and short interest in most of these selected biotech stocks decreased.
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The short interest data are out for August 14, the most recent settlement date. 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 August 14 short interest data has been compared with the previous report, and short interest in most of these selected biotech stocks decreased.
Alexion Pharmaceuticals Inc.’s (NASDAQ: ALXN) short interest increased to 4.75 million shares from the previous 4.41 million. Shares recently traded at $103.34, in a 52-week range of $72.67 to $121.50.
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Amgen Inc. (NASDAQ: AMGN | AMGN Price Prediction) saw its short interest decrease to 4.39 million shares from the previous level of 4.92 million. Shares were trading at $248.22, in a 52-week range of $177.05 to $264.97.
Short interest in Biogen Inc. (NASDAQ: BIIB) fell to 2.38 million shares from 2.55 million in the prior period. The stock traded at $279.03, within a 52-week range of $215.78 to $374.99.
Gilead Sciences Inc. (NASDAQ: GILD) saw its short interest drop to 18.83 million shares from 21.33 million in the previous period. Shares were trading at $66.05, in a 52-week range of $60.89 to $85.97.
Regeneron Pharmaceuticals Inc. (NASDAQ: REGN) short interest retreated from the previous 18.90 million shares to 16.01 million. The stock traded at $606.65 a share, in a 52-week range of $271.37 to $664.64.
And the number of Vertex Pharmaceuticals Inc. (NASDAQ: VRTX) shares short decreased to 32.24 million. The previous reading was 33.63 million. The shares traded at $269.10 apiece, in a 52-week range of $165.23 to $306.08.
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Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics. Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications. A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.
