(SGEN) - Analyzing Seagen's Short Interest
Portfolio Pulse from Benzinga Insights
Seagen's (NYSE:SGEN) short percent of float has risen 11.51% since its last report, with 7.48 million shares sold short, which is 5.33% of all regular shares available for trading. It would take traders 5.38 days to cover their short positions on average. An increase in short interest can signal that investors have become more bearish. Seagen's peer group average for short interest as a percentage of float is 3.58%, indicating the company has more short interest than most of its peers.
October 23, 2023 | 8:15 pm
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Seagen's short percent of float has increased, indicating a potential bearish sentiment among investors. The company has more short interest than most of its peers.
An increase in short interest can indicate a bearish sentiment among investors, as they are betting on the stock's price to fall. This could potentially put downward pressure on Seagen's stock price in the short term. Furthermore, the fact that Seagen has more short interest than most of its peers could make it more susceptible to price declines.
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