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Health and Healthcare

Short Sellers Become More Selective on Leading Biotechs

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By Chris Lange Published
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The short interest data are out for the October 15 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 October 15 short interest data have been compared with the previous figures, and short interest mixed in these selected stocks for this settlement date.

Amgen Inc. (NASDAQ: AMGN) saw its short interest jump to 12.65 million shares from the previous level of 11.01 million. Shares closed Monday at $158.58, in a 52-week trading range of $130.09 to $181.81.

Biogen Inc. (NASDAQ: BIIB) had its short interest fall to 4.25 million shares from the previous 5.15 million. Shares closed Monday at $274.60, within a 52-week trading range of $254.00 to $480.18.

Celgene Corp. (NASDAQ: CELG) short interest for this settlement date decreased slightly to 16.37 million shares from the previous reading of 16.53 million. Shares of Celgene closed Monday at $123.65, in a 52-week range of $92.98 to $140.72.

Gilead Sciences Inc. (NASDAQ: GILD) saw its short interest rise to 30.73 million shares from 28.39 million in the previous period. Shares closed Monday at $108.63, in a 52-week trading range of $85.95 to $123.37.

MannKind Corp. (NASDAQ: MNKD) saw its short interest drop to 124.02 million shares. The previous reading was 126.84 million. This is the highest reading on the year. Shares closed Monday at $3.55, in a 52-week trading range of $2.88 to $7.88.

Alexion Pharmaceuticals Inc. (NASDAQ: ALXN) short interest increased to 7.23 million from the previous level of 6.62 million. The mid-June level was far and away the highest reading on the year, and since that time shares have backed off significantly. Shares closed Monday at $170.01, in a 52-week range of $142.02 to $208.88.

ALSO READ: The 6 Most Shorted Nasdaq Stocks

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About the Author Chris Lange →

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.

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