Short Sellers Increase Bets in Major Pharma

Health and Healthcare

Published: February 10, 2016 9:15 am

Last Updated: January 13, 2020 1:22 pm

The short interest data have been released for the January 29 settlement date. Pharmaceutical companies are usually involved in a lengthy process in getting their drug candidates to market through clinical trials. There is a fair amount of risk involved, should a study come back negative or a candidate not be approved. Conversely, if a drug is approved or passes a clinical trial, there can be big upside.

The January 29 short interest data have been compared with the previous figures, and for the selected pharmaceutical stocks short interest increased.

Pfizer Inc. (NYSE: PFE) saw its short interest jump 140.12 million shares, relative to the previous 123.23 million. The highest short interest reading was more or less a year ago at 207.4 million. Shares of Pfizer closed Tuesday at $29.10, within a 52-week trading range of $28.25 to $36.46.

Merck & Co. Inc. (NYSE: MRK) saw short interest increase to 31.94 million shares from 29.95 million in the previous period. Merck shares closed Tuesday at $49.16, in a 52-week trading range of $45.69 to $61.70.

Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) short interest dropped to 15.14 million shares. The previous level was 15.98 million, the highest in the past 52 weeks. Shares of Teva closed Tuesday at $57.67, in a 52-week trading range of $54.17 to $72.31.

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Bristol-Myers Squibb Co. (NYSE: BMY) saw its short interest increase to 23.03 million shares from the previous reading of 21.86 million. Bristol-Myers shares closed Tuesday at $61.02, within a 52-week range of $51.82 to $70.87.

AbbVie Inc. (NYSE: ABBV) short interest increased to 27.54 million shares, compared to the previous level of 24.45 million. Short interest has backed way off its highest level of the past year back in May. Shares of AbbVie closed Tuesday at $53.48, in a 52-week trading range of $45.45 to $71.60.

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