Major Biotechs Scare Off Short Sellers

Health and Healthcare

Published: September 25, 2019 9:30 am

Last Updated: March 13, 2020 5:29 pm

The short interest data are out for the most recent settlement date, September 13. 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 September 13 short interest data has been compared with the previous report, and short interest in most of these selected biotech stocks decreased.

Amgen Inc. (NASDAQ: AMGN) saw its short interest decrease to 7.92 million shares from the previous level of 8.52 million. Shares were last seen trading at $196.55, in a 52-week range of $166.30 to $211.90.

Short interest in Biogen Inc. (NASDAQ: BIIB) fell to 3.47 million shares from the previous 3.80 million. The stock recently traded at $236.20, within a 52-week range of $215.78 to $358.41.

Celgene Corp.’s (NASDAQ: CELG) short interest for this settlement date decreased to 11.97 million shares from the previous level of 12.56 million. Shares were changing hands at $98.62, in a 52-week range of $58.59 to $99.85.

Gilead Sciences Inc. (NASDAQ: GILD) saw its short interest rise to 14.66 million shares from 13.86 million in the previous period. Shares were trading at $64.56, in a 52-week range of $60.32 to $79.61.

The number of MannKind Corp. (NASDAQ: MNKD) shares short dropped to 38.08 million. The previous reading was 38.67 million. The stock traded at $1.33 a share, in a 52-week range of $0.94 to $2.34.

Alexion Pharmaceuticals Inc.’s (NASDAQ: ALXN) short interest decreased to 3.12 million shares from the previous 3.48 million. Shares were trading at $100.32, in a 52-week range of $92.56 to $141.86.