Looking Into Biogen's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Biogen (NYSE:BIIB) has experienced a 7.8% increase in short interest since its last report, with 2.83 million shares sold short, representing 2.21% of its float. It would take about 3.12 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. Biogen's short interest is below its peer group average of 4.74%.
December 21, 2023 | 2:45 pm
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Biogen's increased short interest may indicate bearish sentiment, but it's still below the peer average, suggesting a mixed outlook.
The rise in short interest for Biogen suggests that some investors are expecting the price to fall, which could lead to negative pressure on the stock price in the short term. However, since the level is below the peer average, it may not be a strong bearish signal. The impact is likely to be mixed, as the market may have already priced in this sentiment to some extent.
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