Health and Healthcare
Short Sellers Run for Cover From Major Biotechs
Published:
Last Updated:
Companies within the biotech industry are considered a riskier group of stocks, with big potential upside and big potential downside. In fact, a cure or incredible new breakthrough in cancer or Alzheimer’s disease will be worth more than any risks from Brexit or political rhetoric from the campaign trail. One way of gauging this is the short interest report for each company.
FDA rulings can make or break the biotech sector, and short sellers and mega-bulls often go to war against each other in these companies. After all, if a single failed clinical trial can mean disaster for a stock, then some short sellers can argue for a stock implosion down the road.
24/7 Wall St. has reviewed the top biotech companies, without focusing on speculative companies. The August 31 short interest data have been compared with the previous report, and short interest decreased for most of these selected biotech stocks.
Amgen Inc. (NASDAQ: AMGN) saw its short interest decrease slightly to 8.01 million shares from the previous level of 8.10 million. Shares closed most recently at $172.04, in a 52-week trading range of $130.09 to $176.64.
Biogen Inc. (NASDAQ: BIIB) had its short interest retreat to 2.16 million shares from the previous 2.53 million. The stock closed Monday at $302.66, within a 52-week range of $223.02 to $333.65.
Celgene Corp. (NASDAQ: CELG) short interest for this settlement date decreased to 5.86 million shares from the previous 6.09 million. Shares closed most recently at $106.85, in a 52-week range of $93.05 to $128.39.
Gilead Sciences Inc. (NASDAQ: GILD) saw its short interest decline to 16.13 million shares from 17.37 million in the previous period. Shares closed Monday at $78.85, in a 52-week trading range of $76.67 to $113.31.
MannKind Corp. (NASDAQ: MNKD) saw its short interest increase to 95.64 million shares. The previous reading was 87.82 million. Shares closed most recently at $0.72, in a 52-week trading range of $0.64 to $3.79.
Alexion Pharmaceuticals Inc. (NASDAQ: ALXN) short interest fell to 5.05 million, compared to the 6.03 million on the previous settlement date. Shares closed most recently at $129.29, in a 52-week range of $110.56 to $193.45.
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
