(BIIB) - Analyzing Biogen's Short Interest
Portfolio Pulse from Benzinga Insights
Biogen's (NYSE:BIIB) short percent of float has risen 3.39% since its last report, with 3.14 million shares sold short, which is 2.44% of all regular shares available for trading. It would take traders 5.06 days to cover their short positions on average. An increase in short interest can signal that investors have become more bearish. However, Biogen's peer group average for short interest as a percentage of float is 3.54%, which means the company has less short interest than most of its peers.
September 20, 2023 | 2:15 pm
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Biogen's short interest has increased, indicating a bearish sentiment among investors. However, compared to its peers, Biogen has less short interest, which could be a positive sign.
An increase in short interest usually indicates a bearish sentiment among investors, which could potentially lead to a decrease in the stock price. However, the fact that Biogen has less short interest than its peers could mean that the market is less bearish on Biogen compared to other similar companies. This could potentially have a neutralizing effect on the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100