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 decreased.
Alexion Pharmaceuticals Inc.’s (NASDAQ: ALXN) short interest dropped to 4.42 million shares from the previous 4.76 million. Shares recently traded at $101.49, in a 52-week range of $72.67 to $125.52.
Amgen Inc. (NASDAQ: AMGN) saw its short interest decrease to 5.50 million shares from the previous level of 6.03 million. Shares were trading at $247.98, in a 52-week range of $174.27 to $264.97.
Short interest in Biogen Inc. (NASDAQ: BIIB) fell to 2.78 million shares from the previous 3.26 million. The stock traded at $272.33, within a 52-week range of $215.78 to $374.99.
Gilead Sciences Inc. (NASDAQ: GILD) saw its short interest drop to 22.09 million shares from 22.93 million in the previous period. Shares were trading at $73.64, in a 52-week range of $60.89 to $85.97.
And the number of MannKind Corp. (NASDAQ: MNKD) shares short increased slightly to 31.69 million. The previous reading was 31.21 million. The stock traded at $1.61 a share, in a 52-week range of $0.80 to $2.48.
24/7 Wall St.Essential Tips for Investing (Sponsored)
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
