Healthcare Business

Short Sellers Need to Find a Clue on Major Biotechs

The short interest data are out for September 30, 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 September 30 short interest data has been compared with the previous report, and short interest moves in these selected biotech stocks were mixed.

Alexion Pharmaceuticals Inc.’s (NASDAQ: ALXN) short interest increased to 5.59 million shares from the previous 5.08 million. Shares recently traded at $124.52, in a 52-week range of $72.67 to $128.57.

Amgen Inc. (NASDAQ: AMGN) saw its short interest decrease to 6.13 million shares from the previous level of 6.77 million. Shares were trading at $236.70, in a 52-week range of $177.05 to $264.97.

Short interest in Biogen Inc. (NASDAQ: BIIB) fell to 2.83 million shares from 3.69 million in the prior period. The stock traded at $286.54, within a 52-week range of $220.01 to $374.99.

Gilead Sciences Inc. (NASDAQ: GILD) saw its short interest rise to 19.36 million shares from 17.95 million in the previous period. Shares were trading at $63.84, in a 52-week range of $61.65 to $85.97.

The number of Moderna Inc. (NASDAQ: MRNA) shares short dropped from 30.25 million to 28.02 million in the period. The share price was $73.00 Monday morning and has ranged from $13.53 to $95.21 in the past year.

Regeneron Pharmaceuticals Inc.’s (NASDAQ: REGN) short interest increased to 2.05 million from the previous 1.60 million. The stock traded at $602.07 a share, in a 52-week range of $294.86 to $664.64.

And the number of Vertex Pharmaceuticals Inc. (NASDAQ: VRTX) shares short increased to 3.39 million. The previous reading was 3.04 million. The shares traded at $269.95 apiece, in a 52-week range of $172.32 to $306.08.