Short Sellers Get More Selective on Big Biotech

Health and Healthcare

Published: June 25, 2015 7:50 am

The short interest data are out for the June 15 settlement date. Biotech companies are considered a riskier group of stocks, with big upside and big downside. FDA rulings can make or break them. A single failed clinical trial can mean disaster for a stock. 24/7 Wall St. has reviewed the top biotech companies, without focusing on speculative companies.

The June 15 short interest data have been compared with the previous figures, and overall, short interest in the selected stocks was mixed.

Amgen Inc. (NASDAQ: AMGN) saw its short interest rise to 9.67 million shares from the previous reading of 8.60 million. Shares closed Wednesday at $159.89, in a 52-week trading range of $114.93 to $173.60.

Biogen Inc. (NASDAQ: BIIB) saw its short interest increase slightly to 2.58 million shares from the previous 2.54 million. The company was slowly approaching the lower part of its short interest range from back in November. Shares closed Wednesday at $410.65, within a 52-week trading range of $290.85 to $480.18.

Celgene Corp.‘s (NASDAQ: CELG) short interest for this settlement date decreased to 13.32 million shares from the previous 14.24 million. Since March, Celgene has recorded a few of its highest readings of the year, but now short sellers appear to be backing off. However, the mid-May level is the highest short interest reading on the year. Shares of Celgene closed Wednesday at $119.10, in a 52-week range of $82.90 to $129.06.

ALSO READ: The 6 Most Heavily Shorted Nasdaq Stocks in June

Gilead Sciences Inc. (NASDAQ: GILD) saw its short interest fall to 35.82 million shares from 43.70 million in the previous period. Shares closed Wednesday at $122.01, in a 52-week trading range of $80.60 to $123.37.83.

MannKind Corp. (NASDAQ: MNKD) saw its short interest decrease to 120.43 million shares. The previous reading was 131.16 million shares. Shares closed Wednesday at $5.85, in a 52-week trading range of $3.46 to $11.48.

Alexion Pharmaceuticals Inc. (NASDAQ: ALXN) short interest increased by over a million shares to 10.90 million, from the previous level of 9.48 million. The mid-June level is far and away the highest reading on the year, followed by the previous reading. Shares closed Wednesday at $184.98, in a 52-week range of $150.06 to $203.30.

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