Health and Healthcare
Major Biotechs Send Short Sellers Running for Cover
Published:
Last Updated:
The short interest data are out for the most recent settlement date, July 31. Generally speaking, companies within the biotech industry are considered to be a riskier group of stocks, with big potential upside and big potential downside. The health care sector in general has rallied since Donald Trump won the presidency, but now that his repeal of the ACA looking uncertain, the health care rally is called into question.
As we have said before, FDA rulings can make or break the biotech stocks, and short sellers and mega-bulls often go to war against each other in these companies. After all, if a single failed clinical trial can mean disaster for a stock, then some short sellers can argue for a stock implosion down the road.
24/7 Wall St. has reviewed the top biotech companies, without focusing on speculative companies. The July 31 short interest data have been compared with the previous report, and short interest in most of the selected biotech stocks decreased.
Amgen Inc. (NASDAQ: AMGN) saw its short interest dropped to 7.81 million shares from the previous level of 8.37 million. Shares closed most recently at $173.55, in a 52-week trading range of $133.64 to $184.21.
Short interest in Biogen Inc. (NASDAQ: BIIB) decreased to 3.09 million shares from the previous 3.20 million. The stock recently traded at $288.74, within a 52-week range of $244.28 to $329.83.
Celgene Corp.’s (NASDAQ: CELG) short interest for this settlement date fell to 9.11 million shares from the previous 10.22 million. Shares were changing hands at $135.57, in a 52-week range of $96.93 to $139.00.
Gilead Sciences Inc. (NASDAQ: GILD) saw its short interest increase to 16.84 million shares from 13.38 million in the previous period. Shares were trading at $73.90, in a 52-week trading range of $63.76 to $82.10.
The number of MannKind Corp. (NASDAQ: MNKD) shares short decreased slightly to 21.44 million. The previous reading was 22.74 million. The stock was last seen at $1.15, in a 52-week range of $0.67 to $5.05.
Alexion Pharmaceuticals Inc.’s (NASDAQ: ALXN) short interest slipped to 5.07 million shares, compared to the previous level of 5.63 million. Shares were trading at $136.85, in a 52-week range of $96.18 to $145.42.
24/7 Wall St.Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
