Immunomedics Inc (IMMU) stock price is down 29% in mid-morning trading as its lead drug, Sacituzumab Govitecan, failed to get FDA approval. Short interest is $533 million, 29.49 million shares shorted, 18.29% of its float, stock borrow cost is 30 bps.
Consumer DiscretionaryCorporateNetflixS3 Research
S3 Analytics: NFLX Buying and Selling Into the Earnings Report
Netflix Inc (NFLX) short sellers cut their short exposure in 2018 by 37%, covering 8.1 million shares of shorts as they lost $2.04 billion, -34.90%, in mark-to-market P\L. In the first month of 2019 we are seeing a reversal of the trend, with short sellers adding 1.35 million shares of new shorts, +9.7%, in less than three weeks. While NFLX short interest has climbed 45%, to $5.36 billion, short seller’s losses continued to mount this year, down another $1.2 billion in mark-to-market losses in less than a month.
Ligand Pharmaceuticals (LGND) shorts are up $206 million in mark-to-market profits today after Citron Research published a report with a $35 price target on concentration of royalty payments in just four drugs, the largest of which will soon lose patent exclusivity. LGND was down 20% on the news today.
ROKU short interest is $368 million; 8.73 million shares shorted; 12.95% of the float with a stock borrow rate of General Collateral (30 bps fee).
ROKU’s stock price is down 7% today after Citron Research called the stock “uninvestable” as “Apple teams up with Samsung” to stream content via iTunes.
iShares iBoxx High Yield Corporate Bond ETF (HYG) short interest is $6.71 billion, 84.25 million shares shorted, 55.72% of the float.
It is the fourth most shorted ETF in the U.S. behind SPY, QQQ and IWM.
Consumer DiscretionaryCorporateEquitiesS3 ResearchSectorsUncategorized
S3 Analytics: No Namaste’s for MINDBODY, Inc Short Sellers
MINDBODY, Inc (MB) short sellers will be looking to have their chakra’s realigned after incurring $130 million in mark-to-market losses on MB’s +65% stock price spike on Monday. MB’s stock price rose by $14.11/share on private equity firm’s Vista Equity Partners’ $1.9 billion, $36.50/share, buyout offer. MB short interest is $331 million, 9.24 million shares shorted or 22.48% of its float.
S3 Analytics: XPO Logistics Shorts up $104 million on Spruce Point “Strong Sell” Report
XPO Logistics, Inc (XPO) is down over 26% today after Spruce Point Capital Mgmt released a “strong sell” investment research report on the company. Spruce Point reports “financial irregularities”; $4.7 billion in debt and “dependency on external capital and asset sales” due to the “inability to generate sustaining free cash flow” to forecast a 40%-60% short-term downside and a 100% long-term downside.
General Electric Co (GE) short interest is $924.38 million; 137.76 million shares; 1.60% of float; General Collateral stock borrow cost (30 bp fee) & 1.14 Days to Cover.
GE shares shorted is up 2.7 million, +1.99%, in December and up 1.3 million, +0.95%, over the last week.