Looking Into Amgen's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Amgen (NYSE:AMGN) has seen a 5.83% increase in short interest since its last report, with 6.77 million shares sold short, representing 1.27% of its float. It would take about 2.97 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, Amgen has less short interest compared to its peer group average of 4.38%. The rise in short interest doesn't necessarily predict a stock price fall.
November 30, 2023 | 5:00 pm
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Amgen's increased short interest may suggest bearish sentiment, but it remains below the peer average, potentially mitigating negative impact.
While the rise in short interest typically indicates that investors are expecting the stock price to decline, Amgen's short interest is below its peer group average, which could lessen concerns. The short interest level also does not guarantee a price movement, and the article suggests that an increase in short interest does not necessarily mean the stock will fall. Therefore, the short-term impact is likely neutral.
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