Investors seem to be mounting bets against some biotech and pharma names, including one that has soared in 2022. FactSet data showed that short interest in Tricida , a company working on a drug aimed at treating chronic kidney disease, increased to about 8 million shares through the end of September. That’s 36% of the total floating shares, or those available for trading. Tricida has been on fire this year, rising more than 30% in that time, while the broader market struggles. The stock has fared even better over the past 12 months, nearly tripling in value in that time. Short interest also increased on two other biotech names: Verve Therapeutics and Allogene Therapeutics . Short interest in Verve rose to 12 million shares, or 34% of its float, while 27.6 million shares of Allogene were being shorted through the end of September. Allogene shares are down 25% year to date, while Verve has lost about 11%. Retailers Bed Bath & Beyond and Big Lots, along with women’s fashion company Torrid Holdings, also saw increased short interest. Check out the full list of heavily shorted stocks below. (Note: The table includes stocks traded on the NASDAQ or NYSE exchanges with short interest greater than 25% of their total float and at least $100 million in market cap. Short interest data is updated twice a month and reported mid-month and at the end of the month. These figures are current as of Sept. 30 as reported by the exchanges, via FactSet. The next release date is Oct. 25 for short interest data as of Oct. 14).
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