Short Selling Volatile Biotechs

by Jon C. Ogg
24/7 Wall St.



Many of the recent biotech implosions are always interesting to see if short sellers are getting out of the way or adding pressure. Out of the biotechs we covered with recent implosions here is what we saw from May to June. Oddly enough, only Dendreon (DNDN) out of this group showed a drop in the short interest out of this group from May to June..

Dendreon (DNDN)...can't forget them. Recently we noted how options were weighing on the stock and how the company probably had a news vacuum coming up.
June Short Interest: 40.8 million shares, down almost 2% from May.
May Short Interest: 41.66M.

Adolor Corp. (ADLR)
June Short Interest: 6.5 million shares, up almost 10% from May.
May Short Interest: 5.9 million shares.

Allos Therapeutics (ALTH) didn't implode, but it looked like it was going to. Short sellers didn't have the news ahead of time so maybe the short-covering was a savior.
June Short Interest: 5.17 million shares, up 30% from May.
May Short Interest: 3.97 million shares.

Northfield Labs (NFLD)....going, going, gone.....Biotech Zombie.
June Short Interest: 8.06 million shares, up 8% from May.
May Short Interest: 7.4 million shares.

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RELATED READING:
- Short Squeezing Biotechs



24/7 Wall St. is a regular contributor to BioHealth Investor
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