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Short sellers continue to bet on biotech firms compared to the July 31 settlement date. Arena...

Short sellers continue to bet on biotech firms compared to the July 31 settlement date. Arena Pharmaceuticals (ARNA -0.3%), Gilead Sciences (GILD +1.4%), Pharmacyclics (PCYC -2.2%), Vertex Pharmaceuticals (VRTX -0.6%) and VIVUS (VVUS -0.4%) all saw short interest rise more than 9% between July 31 and August 15. Two exceptions to the rule worth noting however, are Alexion Pharmaceuticals (ALXN +0.1%) and Biogen Idec (BIIB -0.4%), both of which saw short interest decline by 10% and 8.4%, respectively.
Comments (3)
  • shawn1726
    , contributor
    Comments (19) | Send Message
     
    The short interest on Apple (AAPL) also jumped , but the stock made a new high yesterday. The fundemental is the key to determine who is right or wrong. ARNA has a big potential.
    28 Aug 2012, 10:59 AM Reply Like
  • chanthirani
    , contributor
    Comments (466) | Send Message
     
    Agree with you. I am long ARNA myself.
    28 Aug 2012, 12:01 PM Reply Like
  • MexCom
    , contributor
    Comments (3051) | Send Message
     
    Volume has died down considerably since the approvals for both ARNA and VVUS. If the shorts aren't hedged they can get burnt with no volume to cover a mark to market call to force buy-in.
    28 Aug 2012, 01:19 PM Reply Like
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