The short interest data are out for the June 30 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 June 30 short interest data have been compared with the previous figures, and overall, short interest in the selected stocks backed off for this settlement date.
Amgen Inc. (NASDAQ: AMGN) saw its short interest remain flat at about 9.67 million shares. Shares closed Friday at $154.10, in a 52-week trading range of $114.93 to $173.60.
Biogen Inc. (NASDAQ: BIIB) saw its short interest tick up to 2.59 million shares from the previous 2.58 million. The company was slowly approaching the lower part of its short interest range from back in November. Shares closed Friday at $388.23, within a 52-week trading range of $290.85 to $480.18.
Celgene Corp.‘s (NASDAQ: CELG) short interest for this settlement date also stayed flat, at 13.33 million shares compared to the previous reading 13.32 million. Since March, Celgene has recorded a few of its highest readings of the year, but now short sellers appear to be backing off. However, the mid-May level is the highest short interest reading on the year. Shares of Celgene closed Friday at $118.84, in a 52-week range of $82.90 to $129.06.
Gilead Sciences Inc. (NASDAQ: GILD) saw its short interest fall to 23.69 million shares from 35.82 million in the previous period. This is currently the lowest reading on the year. Shares closed Friday at $113.74, in a 52-week trading range of $84.75 to $123.37.
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MannKind Corp. (NASDAQ: MNKD) saw its short interest decrease to 115.08 million shares. The previous reading was 120.43 million shares. Shares closed Friday at $5.38, in a 52-week trading range of $3.46 to $10.18.
Alexion Pharmaceuticals Inc. (NASDAQ: ALXN) short interest decreased by about 4 million shares to 6.93 million, from the previous level of 10.90 million. The mid-June level is far and away the highest reading on the year, followed by the previous reading. Shares closed Friday at $192.53, in a 52-week range of $150.06 to $203.30.
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