Major Biotechs See a Rising Tide in Short Interest

Health and Healthcare

Published: May 28, 2019 8:35 am

Last Updated: March 13, 2020 5:30 pm

The short interest data are out for the most recent settlement date, May 15. Generally speaking, companies within the biotech industry are considered 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 15 short interest data have been compared with the previous report, and short interest in most of these selected biotech stocks increased.

Amgen Inc. (NASDAQ: AMGN) saw its short interest increase to 10.36 million shares from the previous level of 9.92 million. Shares were last seen trading at $171.28, in a 52-week range of $166.30 to $210.19.

Short interest in Biogen Inc. (NASDAQ: BIIB) shrank slightly to 3.90 million shares from the previous 3.96 million. The stock most recently traded at $227.06, within a 52-week range of $216.12 to $388.67.

Celgene Corp.’s (NASDAQ: CELG) short interest for this settlement date increased a bit to 11.81 million shares from the previous level of 11.47 million. Shares were changing hands at $95.24, in a 52-week range of $58.59 to $97.07.

Gilead Sciences Inc. (NASDAQ: GILD) saw its short interest increased to 13.94 million shares from 13.46 billion in the previous period. Shares were trading at $66.89, in a 52-week range of $60.32 to $79.61.

The number of MannKind Corp. (NASDAQ: MNKD) shares short ticked up to 35.09 million. The previous reading was 34.79 million. The stock was last seen at $1.17 a share, in a 52-week range of $0.94 to $3.04.

Alexion Pharmaceuticals Inc.’s (NASDAQ: ALXN) short interest declined to 3.62 million shares from the previous 3.69 million. Shares were trading at $127.15, in a 52-week range of $92.56 to $141.86.