Major Pharma Short Sellers Increase Bets

Health and Healthcare

Published: January 13, 2016 9:15 am

Last Updated: January 13, 2020 3:06 pm

The short interest data have been released for the December 31 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 December 31 short interest data have been compared with the previous figures, and for most of the selected pharmaceutical stocks short interest was up.

Pfizer Inc. (NYSE: PFE) saw its short interest jump to 123.45 million shares from the previous 85.66 million. The highest short interest reading over the past year was 207.4 million. Shares of Pfizer closed Tuesday at $31.00, within a 52-week trading range of $28.47 to $36.46.

Merck & Co. Inc. (NYSE: MRK) saw short interest decrease to 23.87 million shares from 25.61 million in the previous period. Merck shares closed Tuesday at $51.76, in a 52-week trading range of $45.69 to $63.30.

Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) short interest dropped to 16.32 million shares. The previous level was 16.82 million. The current level is the highest in the past 52 weeks. Shares of Teva closed Tuesday at $64.40, in a 52-week trading range of $54.17 to $72.31.

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Bristol-Myers Squibb Co. (NYSE: BMY) saw its short interest increase slightly to 24.29 million shares from the previous reading of 23.57 million. Bristol-Myers shares closed Tuesday at $63.44, within a 52-week range of $51.82 to $70.87.

AbbVie Inc. (NYSE: ABBV) short interest increased to 24.12 million shares from the previous level of 21.09 million. Short interest has backed way off its highest level of the past year back in May. Shares of AbbVie closed Tuesday at $54.84, in a 52-week trading range of $45.45 to $71.60.

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