Health and Healthcare
Short Sellers Make a Move on Big Biotechs
Published:
Last Updated:
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive
compensation for actions taken through them.
The short interest data are out for the most recent settlement date, July 31. 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 31 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 9.54 million shares from the previous level of 9.13 million. Shares were last seen trading at $196.25, in a 52-week range of $166.30 to $210.19.
Short interest in Biogen Inc. (NASDAQ: BIIB) grew to 4.12 million shares from the previous 3.79 million. The stock recently traded at $235.80, within a 52-week range of $216.12 to $358.41.
Celgene Corp.’s (NASDAQ: CELG) short interest for this settlement date increased to 10.61 million shares from the previous level of 9.48 million. Shares were changing hands at $95.14, in a 52-week range of $58.59 to $98.97.
Gilead Sciences Inc. (NASDAQ: GILD) saw its short interest rise to 15.52 million shares from 14.00 million in the previous period. Shares were trading at $65.24, in a 52-week range of $60.32 to $79.61.
The number of MannKind Corp. (NASDAQ: MNKD) shares short dropped to 38.47 million. The previous reading was 41.34 million. The stock was trading at $1.08 a share, in a 52-week range of $0.94 to $3.04.
Alexion Pharmaceuticals Inc.’s (NASDAQ: ALXN) short interest declined slightly to 3.08 million shares from the previous 3.10 million. Shares were trading at $109.98, in a 52-week range of $92.56 to $141.86.
24/7 Wall St.Cash Back Credit Cards Have Never Been This Good
Credit card companies are at war, handing out free rewards and benefits to win the best customers. A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges. See our top picks for the best credit cards today. You won’t want to miss some of these offers.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.