Top of hot stocks: Galapagos and Docusign
19 September 2018 London
Image: Shutterstock
Galapagos led the FIS Astec Analytics hot stocks list for Europe, the Middle East, and Africa last week.
The Belgium-based biotechnology company has been absent from the hot stocks list since July, but is back this week as short interest jumps up from near a 12-month low, rising over 350 percent across the last ten days.
Galapagos gains have been attributed to the positive news released across a number of treatments for conditions including rheumatoid arthritis.
FIS said that because of this, some short sellers will be taking up positions in the expectation that some trials may falter in the future, but others may be more interested in the effect of a $300 million public offering of American depositary receipt shares announced on 11 September.
Following Galapagos was Meyer Burger Technology. The Switzerland-based semiconductor manufacturer, specialising in the solar power industry, saw its short interest volume fall back last week.
Over the past week, the shares recovered a little of their lost value, while utilisation, which had stood at 77 percent at the end of the prior week, increased to close last week at the maximum 100 percent, despite the drop in absolute volume.
Docusign topped the Americas hot stocks last week. Borrowing of shares ramped up quickly from June, pushing utilisation to 89 percent by 1 August.
Short interest volume advanced some 58 percent, while utilisation fell 20 percent as a result of new supply coming to the market.
The Belgium-based biotechnology company has been absent from the hot stocks list since July, but is back this week as short interest jumps up from near a 12-month low, rising over 350 percent across the last ten days.
Galapagos gains have been attributed to the positive news released across a number of treatments for conditions including rheumatoid arthritis.
FIS said that because of this, some short sellers will be taking up positions in the expectation that some trials may falter in the future, but others may be more interested in the effect of a $300 million public offering of American depositary receipt shares announced on 11 September.
Following Galapagos was Meyer Burger Technology. The Switzerland-based semiconductor manufacturer, specialising in the solar power industry, saw its short interest volume fall back last week.
Over the past week, the shares recovered a little of their lost value, while utilisation, which had stood at 77 percent at the end of the prior week, increased to close last week at the maximum 100 percent, despite the drop in absolute volume.
Docusign topped the Americas hot stocks last week. Borrowing of shares ramped up quickly from June, pushing utilisation to 89 percent by 1 August.
Short interest volume advanced some 58 percent, while utilisation fell 20 percent as a result of new supply coming to the market.
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