Alnylam Pharmaceuticals Stock Sees Short Interest Decline 12.6%

The most recent short interest data has been released by the NASDAQ for the 10/15/2013 settlement date, which shows a 473,780 share decrease in total short interest for Alnylam Pharmaceuticals Inc (ALNY), to 3,300,814, a decrease of 12.55% since 09/30/2013. Total short interest is just one way to look at short data; another metric that we here at Dividend Channel find particularly useful is the "days to cover" metric because it considers both the total shares short and the average daily volume of shares traded. The number of shares short is then compared to the average daily volume, in order to calculate the total number of trading days (at the average volume) it would take to close out all of the open short positions if every share traded represented a short position being closed. Average daily volume for ALNY at the 10/15/2013 settlement increased to 1,012,251, as compared to 714,710 at the 09/30/2013 report. That brought "days to cover" down to 3.26, a 38.26% decrease from the 5.28 days to cover calculated at the previous short interest data release.

START SLIDESHOW:
The 10 Most Shorted Stocks of the Dow »

The below chart shows the historical "days to cover" for ALNY at previous short interest release dates:

Loading+chart++2013+TickerTech.com

A decreased "days to cover" value could indicate that short sellers are no longer expecting the same decline in stock price they once were, or it could also indicate a long bet elsewhere was closed where ALNY had been shorted as a hedge.

The chart below shows the one year performance of ALNY shares, versus its 200 day moving average. Looking at this chart, ALNY's low point in its 52 week range is $14.88 per share, with $66.17 as the 52 week high point — that compares with a last trade of $60.53.

Alnylam Pharmaceuticals Inc Chart

According to the ETF Finder at ETF Channel, ALNY makes up 2.24% of the SPDR S&P Biotech ETF (XBI) which is lower by about 0.2% on the day Friday.

In afternoon trading Friday, ALNY was down about 0.2% on the day.

null

More from Stocks

The Biggest Mistake Tesla Short Sellers Are Making Right Now

The Biggest Mistake Tesla Short Sellers Are Making Right Now

Stocks Rise Sharply, Facebook Ignites a Nasdaq Rally

Stocks Rise Sharply, Facebook Ignites a Nasdaq Rally

Is Tesla Still Racing Against Nvidia in Autonomous Driving?

Is Tesla Still Racing Against Nvidia in Autonomous Driving?

Dunkin' Donuts CEO to Short-Seller Jim Chanos: You're Wrong

Dunkin' Donuts CEO to Short-Seller Jim Chanos: You're Wrong

Facebook Continues to Hike Capital Spending but Investors Don't Seem Worried

Facebook Continues to Hike Capital Spending but Investors Don't Seem Worried