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.
Credit Card Companies Are Doing Something Nuts
Credit card companies are at war. The biggest issuers are handing out free rewards and benefits to win the best customers.
It’s possible to find cards paying unlimited 1.5%, 2%, and even more today. That’s free money for qualified borrowers, and the type of thing that would be crazy to pass up. Those rewards can add up to thousands of dollars every year in free money, and include other benefits as well.
We’ve assembled some of the best credit cards for users today. Don’t miss these offers because they won’t be this good forever.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
