Short Interest is HIGH
Synergy Pharmaceuticals
Short interest in Synergy Pharmaceuticals Inc. (NASDAQ: SGYP) totaled nearly 66.15 million shares by the middle of February, after a pullback of more than 10 million from the prior settlement date. Still, that represented a whopping 26.9% of the total float, even if it was the fewest shares short since last September. The days to cover rose from more than eight to over 11 during the latest period as the average daily volume shrank.
This biopharmaceutical company is focused on treatments for constipation and irritable bowel syndrome. Short sellers watched the stock fall about 19% but then end those two weeks down less than 7%. The most recent closing share price was $1.88, which is more than 23% lower year to date. The shares have changed hands between $1.68 and $5.96 apiece in the past year.
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