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Health and Healthcare

Short Sellers Still Can’t Make Up Their Mind on Major Biotech Stocks

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By Chris Lange Updated Published
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Short Sellers Still Can’t Make Up Their Mind on Major Biotech Stocks

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The short interest data are out for the most recent settlement date, November 30. 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 November 30 short interest data have been compared with the previous report, and short interest moves in the selected biotech stocks were mixed.

Amgen Inc. (NASDAQ: AMGN) saw its short interest rise to 10.08 million shares from the previous level of 9.26 million. Shares were last seen trading at $196.18, in a 52-week range of $163.31 to $210.19.

[nativounit]

Short interest in Biogen Inc. (NASDAQ: BIIB) decreased to 3.44 million shares from the previous 3.69 million. The stock recently traded at $319.79, within a 52-week range of $249.17 to $388.67.

Celgene Corp.’s (NASDAQ: CELG) short interest for this settlement date grew to 14.55 million shares from the previous level of 12.77 million. Shares were changing hands at $69.49, in a 52-week trading range of $66.62 to $110.20.

Gilead Sciences Inc. (NASDAQ: GILD) saw its short interest decrease to 12.77 million shares from 12.94 million in the previous period. Shares were trading at $67.72, in a 52-week range of $64.27 to $89.54.

The number of MannKind Corp. (NASDAQ: MNKD) shares short fell to 42.52 million. The previous reading was 43.30 million. The stock was last seen at $1.74 a share, in a 52-week range of $0.98 to $4.05.

Alexion Pharmaceuticals Inc.’s (NASDAQ: ALXN) short interest increased slightly to 4.44 million shares from the previous 4.40 million. Shares were trading at $114.83, in a 52-week range of $102.10 to $140.77.

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Photo of Chris Lange
About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.

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