Looking Into Amgen's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Amgen (NYSE:AMGN) has experienced a 19.69% increase in short interest since its last report, with 8.10 million shares sold short, representing 1.52% of its float. It would take about 3.96 days to cover these short positions based on average trading volume. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price decline. Amgen's short interest is below its peer group average of 5.06%.
December 20, 2023 | 7:00 pm
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NEUTRAL IMPACT
Amgen's short interest has increased, which may indicate bearish sentiment among investors. However, with short interest below the peer group average, the impact on the stock price may be limited in the short term.
While the increase in short interest for Amgen suggests that some investors are expecting the price to fall, the fact that it is still below the peer group average means that the market may not be as bearish on Amgen as it is on other companies. This mixed signal leads to a neutral score, with moderate relevance and importance due to the potential implications for market sentiment.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 80