Health and Healthcare

Short Sellers Up the Ante For Major Biotechs

Chris Lange

Published: June 12, 2018 10:54 am

Last Updated: January 11, 2020 10:28 pm

The short interest data are out for the most recent settlement date, May 31. Generally speaking, companies within the biotech industry are considered to be a riskier group of stocks with big potential upside and big potential downside.

As we have said before, FDA rulings can make or break the biotech stocks, 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 May 31 short interest data have been compared with the previous report, and short interest moves in the selected biotech stocks were increased.

Amgen Inc. (NASDAQ: AMGN) saw its short interest rise to 10.72 million shares from the previous level of 9.62 million. Shares were last seen at $184.61 in a 52-week trading range of $161.13 to $201.23.

Short interest in Biogen Inc. (NASDAQ: BIIB) increased to 4.33 million shares from the previous 3.86 million. The stock recently traded at $306.68 within a 52-week range of $249.17 to $370.57.

Celgene Corp.’s (NASDAQ: CELG) short interest for this settlement date jumped to 34.34 million shares from the previous level of 12.30 million. Shares were changing hands at $78.33 in a 52-week trading range of $74.13 to $147.17.

Gilead Sciences Inc. (NASDAQ: GILD) saw its short interest increase to 18.14 million shares from 16.28 million in the previous period. Shares were trading at $71.83 in a 52-week range of $63.76 to $89.54.

The number of MannKind Corp. (NASDAQ: MNKD) shares short decreased to 29.04 million. The previous reading was 30.26 million. The stock was last seen at $1.90 in a 52-week range of $1.09 to $6.96.

Alexion Pharmaceuticals Inc.’s (NASDAQ: ALXN) short interest dropped to 4.37 million shares from the previous level of 5.01 million. Shares were trading at $116.70 in a 52-week range of $102.10 to $149.34.