The short interest data are out for the most recent settlement date, May 29. 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 29 short interest data has been compared with the previous report, and short interest in most of these selected biotech stocks decreased.
Alexion Pharmaceuticals Inc.’s (NASDAQ: ALXN) short interest fell to 4.50 million shares from the previous 4.75 million. Shares were trading at $115.99, in a 52-week range of $72.67 to $134.84.
Amgen Inc. (NASDAQ: AMGN) saw its short interest decrease to 6.16 million shares from the previous level of 7.01 million. Shares were recently trading at $224.90, in a 52-week range of $173.12 to $244.99.
Short interest in Biogen Inc. (NASDAQ: BIIB) rose slightly to 4.53 million shares from the previous 4.48 million. The stock traded at $293.74, within a 52-week range of $215.78 to $374.99.
Gilead Sciences Inc. (NASDAQ: GILD) saw its short interest drop to 24.14 million shares from 26.09 million in the previous period. Shares were trading at $77.59, in a 52-week range of $60.89 to $85.97.
And the number of MannKind Corp. (NASDAQ: MNKD) shares short decreased to 30.42 million. The previous reading was 33.21 million. The stock traded at $1.44 a share, in a 52-week range of $0.80 to $1.88.
24/7 Wall St.Is Your Money Earning the Best Possible Rate? (Sponsor)
Let’s face it: If your money is just sitting in a checking account, you’re losing value every single day. With most checking accounts offering little to no interest, the cash you worked so hard to save is gradually being eroded by inflation.
However, by moving that money into a high-yield savings account, you can put your cash to work, growing steadily with little to no effort on your part. In just a few clicks, you can set up a high-yield savings account and start earning interest immediately.
There are plenty of reputable banks and online platforms that offer competitive rates, and many of them come with zero fees and no minimum balance requirements. Click here to see if you’re earning the best possible rate on your money!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
