Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
- Short interest in many of the leading biotech stocks shrank in the most recent period.
- However, two of the largest biotech companies bucked that trend in late January.
- Credit Suisse was bullish on both of them during the short interest period.
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Amgen
This biotechnology company focused on oncology, hematology, inflammation and other areas saw its short interest rise more than 15 percent to more than 10.41 million shares, or 1.4 percent of float in the final weeks of the month. Note that it was the fifth straight period of rising short interest. It would take about two days to cover all short positions.Credit Suisse initiated coverage of AmgenFREE REPORT: How To Learn Options Trading Fast
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Celgene
The number of shares sold short in this biopharmaceutical company focused on therapies to treat cancer and inflammatory diseases jumped nearly 16 percent late during the two weeks to almost 10.50 million, which was 1.3 percent of the total float. That was highest level of short interest since last November, and the days to cover was more than one.Credit Suisse recently called Celgene the "best in class." The consensus analyst recommendation is to buy Celgene shares, and their mean price target signals about 35 percent upside potential.During the two-week settlement period, short sellers watched shares of Celgene rise more than 5 percent, only to end up about 4 percent lower by the end of the month. The stock has recovered a bit since then, though.At the time of this writing, the author had no position in the mentioned equities.Keep up with all the latest breaking news and trading ideas by following Benzinga on Twitter.Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.