Short Sellers Become More Selective on Leading Biotechs

Health and Healthcare

Published: October 27, 2015 8:10 am

The short interest data are out for the October 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 October 15 short interest data have been compared with the previous figures, and short interest mixed in these selected stocks for this settlement date.

Amgen Inc. (NASDAQ: AMGN) saw its short interest jump to 12.65 million shares from the previous level of 11.01 million. Shares closed Monday at $158.58, in a 52-week trading range of $130.09 to $181.81.

Biogen Inc. (NASDAQ: BIIB) had its short interest fall to 4.25 million shares from the previous 5.15 million. Shares closed Monday at $274.60, within a 52-week trading range of $254.00 to $480.18.

Celgene Corp. (NASDAQ: CELG) short interest for this settlement date decreased slightly to 16.37 million shares from the previous reading of 16.53 million. Shares of Celgene closed Monday at $123.65, in a 52-week range of $92.98 to $140.72.

Gilead Sciences Inc. (NASDAQ: GILD) saw its short interest rise to 30.73 million shares from 28.39 million in the previous period. Shares closed Monday at $108.63, in a 52-week trading range of $85.95 to $123.37.

MannKind Corp. (NASDAQ: MNKD) saw its short interest drop to 124.02 million shares. The previous reading was 126.84 million. This is the highest reading on the year. Shares closed Monday at $3.55, in a 52-week trading range of $2.88 to $7.88.

Alexion Pharmaceuticals Inc. (NASDAQ: ALXN) short interest increased to 7.23 million from the previous level of 6.62 million. The mid-June level was far and away the highest reading on the year, and since that time shares have backed off significantly. Shares closed Monday at $170.01, in a 52-week range of $142.02 to $208.88.

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