Short Sellers Run For Cover From Major Pharma

Health and Healthcare

Published: July 27, 2015 8:21 am

Last Updated: April 28, 2020 4:50 am

The short interest data have been released for the July 15 settlement date. Pharmaceutical companies are usually involved in a lengthy process in getting their drug candidates to market through clinical trials. There is a fair amount of risk involved, should a study come back negative or a candidate not be approved. Conversely, if a drug is approved or passes a clinical trial, there can be big upside.

The July 15 short interest data have been compared with the previous figures, and across the selected stocks, short interest decreased.

Pfizer Inc. (NYSE: PFE) saw its short interest decrease to 50.37 million shares from the previous 68.44 million. In February, short interest spiked incredibly, and since that time it has slowly backed off. The highest short interest reading on the year was 207.4 million. Shares of Pfizer closed Friday at $34.26, within a 52-week trading range of $27.51 to $35.53.

Merck & Co. Inc. (NYSE: MRK) saw short interest decrease to 29.47 million shares from 32.69 million in the previous period. The previous reading is the second highest in the past 52 weeks. Merck shares closed Friday at $57.41, in a 52-week trading range of $52.49 to $63.62.

Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) short interest fell to 6.32 million shares. The level for the previous settlement date was 6.64 million. Shares of Teva closed Friday at $61.85, in a 52-week range of $47.36 to $68.75.

Bristol-Myers Squibb Co. (NYSE: BMY) saw its short interest rise to 24.80 million shares from the previous reading of 22.59 million. The past few readings, including the current one, are among the lowest of the year. Bristol-Myers shares closed Friday at $65.98, within a 52-week trading range of $47.55 to $70.54.

AbbVie Inc. (NYSE: ABBV) short interest took a big turn downward to 53.31 million shares from the previous level of 77.38 million. Short interest has backed way off its highest level year to date; the highest reading in the past 52-weeks was 111.88 million. Shares of AbbVie closed Friday at $68.08, in a 52-week trading range of $51.37 to $71.60.

ALSO READ: BioPharma Earnings Bracing for Merck, Pfizer, Amgen, Gilead

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