Health and Healthcare
Major Biotechs See Rising Tide in Short Interest
Published:
Last Updated:
The short interest data are out for the most recent settlement date, July 15. Generally speaking, companies within the biotech industry are considered a riskier group of stocks, with big potential upside and big potential downside.
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 15 short interest data has been compared with the previous report, and short interest in most of these selected biotech stocks increased.
Amgen Inc. (NASDAQ: AMGN) saw its short interest increase to 9.13 million shares from the previous level of 8.70 million. Shares were last seen trading at $175.77, in a 52-week range of $166.30 to $210.19.
Short interest in Biogen Inc. (NASDAQ: BIIB) increased to 3.79 million shares from the previous 2.87 million. The stock recently traded at $241.24, within a 52-week range of $216.12 to $358.41.
Celgene Corp.’s (NASDAQ: CELG) short interest for this settlement date decreased to 9.48 million shares from the previous level of 9.68 million. Shares were changing hands at $89.94, in a 52-week range of $58.59 to $98.97.
Gilead Sciences Inc. (NASDAQ: GILD) saw its short interest rise to 14.00 million shares from 11.90 billion in the previous period. Shares were trading at $66.64, in a 52-week range of $60.32 to $79.61.
The number of MannKind Corp. (NASDAQ: MNKD) shares short grew to 41.34 million. The previous reading was 39.79 million. The stock was trading at $1.13 a share, in a 52-week range of $0.94 to $3.04.
Alexion Pharmaceuticals Inc.’s (NASDAQ: ALXN) short interest declined slightly to 3.10 million shares from the previous 3.19 million. Shares were trading at $120.97, in a 52-week range of $92.56 to $141.86.
24/7 Wall St.Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
