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10 Most Shorted Stocks in Biotech

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Sequenom (SQNM - Get Report)

Short interest: 19%
52-week high: $8.71
Current price: $5.10
Year-to-date performance relative to the Nasdaq Biotechnology Index: Down 37%

Sequenom has operated under a dark cloud ever since it was discovered in 2009 that company employees fabricated data tied to its prenatal genetic test for Down's syndrome.

Today, Sequenom is still plugging away with a totally revamped Down's test and a new management team. Shorts believe that Sequenom's plan to launch the Down's test on its own as a laboratory-developed test (LDT) will be stopped by FDA, which decides to enact stronger regulatory control over all genetic tests.

If Sequenom is able to launch the Down's test without FDA interference, concerns have been raised about the test's high cost and competitors who are working on similar genetic tests that may be more accurate or diagnose additional prenatal genetic abnormalities.
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