Health and Healthcare
Short Selling Volatile Biotechs (June 2007) (DNDN, NFLD, NSTK, ADLR, ALTH, COLY, CEGE, NUVO)
Published:
Last Updated:
Stock Tickers: DNDN, NFLD, NSTK, ADLR, ALTH, COLY, CEGE, NUVO
Many of the recent biotech implosions are always interesting to see if short sellers are getting out of the way or adding pressure. Out of the biotechs we covered with recent implosions here is what we saw from May to June. Oddly enough, only Dendreon (DNDN) out of this group showed a drop in the short interest out of this group from May to June..
Dendreon (DNDN)…can’t forget them. Recently we noted how options were weighing on the stock and how the company probably had a news vacuum coming up.
June Short Interest: 40.8 million shares, down almost 2% from May.
May Short Interest: 41.66M.
Adolor Corp. (ADLR)
June Short Interest: 6.5 million shares, up almost 10% from May.
May Short Interest: 5.9 million shares.
Allos Therapeutics (ALTH) didn’t implode, but it looked like it was going to. Short sellers didn’t have the news ahead of time so maybe the short-covering was a savior.
June Short Interest: 5.17 million shares, up 30% from May.
May Short Interest: 3.97 million shares.
Northfield Labs (NFLD)….going, going, gone…..Biotech Zombie.
June Short Interest: 8.06 million shares, up 8% from May.
May Short Interest: 7.4 million shares.
Nastech Pharma (NSTK) was Cramer’s biotech zombie he said was looking up back in March. Short sellers bet against Cramer.
June Short Interest: 5.09 million shares, up 21% from May.
May Short Interest: 4.2 million shares.
Coley Pahrmaceuticals (COLY)….short sellers didn’t know this was getting the bad news at the cut-off date.
June Short Interest: 4.7 million shares, up 5% from May.
May Short Interest: 4.46 million shares.
Cell Genesys (CEGE)
June Short Interest: 15.4 million shares, up almost under 10% from May.
May Short Interest: 14 million shares.
Nuvelo Inc. (NUVO)…short sellers didn’t know for sure that Bayer was bailing here…..
June Short Interest: 8.06 million shares, up 8% from May.
May Short Interest: 7.44 million shares.
The Biotech HOLDRs (BBH) are hard to draw an inference to because of the size differentials and volume, but its June short interest was up more than 4% from May with a reading of 1.72 million shares.
Jon C. Ogg
June 27, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
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.