Short Sellers Increase Bets in Major Pharma

Health and Healthcare

Published: February 25, 2016 8:10 am

Last Updated: January 13, 2020 12:44 pm

The short interest data have been released for the February 12 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 February 12 short interest data have been compared with the previous figures, and for the selected pharmaceutical stocks short interest increased.

Pfizer Inc. (NYSE: PFE) saw its short interest jump to 151.01 million shares, relative to the previous 140.12 million. The highest short interest reading was more or less a year ago at 207.4 million. Shares of Pfizer closed Wednesday at $30.02, within a 52-week trading range of $28.25 to $36.46.

Merck & Co. Inc. (NYSE: MRK) saw short interest increase to 34.49 million shares from 31.94 million in the previous period. Merck shares closed Wednesday at $50.56, in a 52-week range of $45.69 to $61.70.

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Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) short interest dropped to 14.77 million shares. The previous level was 15.14 million, the highest in the past 52 weeks. Shares of Teva closed Wednesday at $56.89, in a 52-week range of $53.78 to $72.31.

Bristol-Myers Squibb Co. (NYSE: BMY) saw its short interest increase slightly to 23.51 million shares from the previous reading of 23.03 million. Bristol-Myers shares closed Wednesday at $62.23, within a 52-week range of $51.82 to $70.87.

AbbVie Inc. (NYSE: ABBV) short interest decreased to 24.70 million shares, compared to the previous level of 27.54 million. Short interest has backed way off its highest level of the past year back in May. Shares of AbbVie closed Wednesday at $54.89, in a 52-week trading range of $45.45 to $71.60.

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