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Short sellers letting up in biotechs

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Short selling often tells much about what is going on in a sector, particularly when there is a common trend across the major players in that sector.

The end of May short selling can now be accessed from NASDAQ. Interestingly enough, short sellers at the end of May lightened up almost across the board on major NASDAQ biotech stocks from May 15 to May 30:

STOCK (Ticker) MAY 30 MAY 15 CHANGE
Amgen Inc. (NASDAQ: AMGN) 22,678,517 24,778,770 -8.48%
Biogen Idec Inc. (NASDAQ: BIIB) 6,346,464 6,788,432 -6.51%
Celgene Corporation (NASDAQ: CELG) 13,775,373 16,336,232 -15.68%
Gilead Sciences, Inc. (NASDAQ: GILD) 32,478,444 32,690,603 -0.65%
ImClone Systems Inc. (NASDAQ: IMCL) 7,149,395 7,664,009 -6.71%

From the major names, a change in the overall trend can be spotted.

You can see the full short selling report for biotechs at BioHealthinvestor.com to see which other biotechs had an increase in short selling and to also see what the more active biotechs with lower market caps saw in their short selling activity.
Symbol Lookup
IndexesChangePrice
DJIA-94.1710,197.09
NASDAQ-17.882,149.02
S&P 500-11.271,087.24

Last updated: November 12, 2009: 04:10 PM

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