Health and Healthcare
Short Sellers Run for Cover From Major Biotechs
Published:
Last Updated:
The short interest data are out for the most recent settlement date, June 15. 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 June 15 short interest data have been compared with the previous report, and short interest in most of the selected biotech stocks decreased.
Amgen Inc. (NASDAQ: AMGN) saw its short interest fall slightly to 10.61 million shares from the previous level of 10.72 million. Shares were last seen at $184.59, in a 52-week trading range of $163.31 to $201.23.
Short interest in Biogen Inc. (NASDAQ: BIIB) increased to 4.73 million shares from the previous 4.33 million. The stock recently traded at $291.92, within a 52-week range of $249.17 to $370.57.
Celgene Corp.’s (NASDAQ: CELG) short interest for this settlement date dropped to 23.94 million shares from the previous level of 34.34 million. Shares were changing hands at $78.31, in a 52-week trading range of $74.13 to $147.17.
Gilead Sciences Inc. (NASDAQ: GILD) saw its short interest decrease to 16.31 million shares from 18.14 million in the previous period. Shares were trading at $70.25, in a 52-week range of $64.27 to $89.54.
The number of MannKind Corp. (NASDAQ: MNKD) shares short decreased to 27.67 million. The previous reading was 29.04 million. The stock was last seen at $1.96, in a 52-week range of $1.09 to $6.96.
Alexion Pharmaceuticals Inc.’s (NASDAQ: ALXN) short interest dropped to 3.99 million shares from the previous level of 4.37 million. Shares were trading at $122.43, in a 52-week range of $102.10 to $149.34.
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
