Elanco Animal Health Inc (ELAN) short interest is $1.03 billion; 35.30 million shares shorted; 48.90% of float; stock borrow cost is 13.15% fee. It is the 6th largest short in the Pharmaceutical Sector.
ELAN shares shorted are up 35.3 million shares, +278%, year-to-date and 18.2 million shares, +107%, in February. Although short sellers have been throwing the kitchen sink at this stock itâ€™s stock price is only down -7% for the year, and -1% in February.
ELANâ€™s short interest as a % of float increased from 41.24% to 48.90% in just one day, and increased from 23.86% to 48.90% in February, highlighting the rapid increase of short sentiment in the stock. We are seeing continued short selling today, but if shorting continues at this pace ELANâ€™s stock borrow cost will start to increase substantially as stock borrow supply is taken down. There are probably 15 to 20 million shares left to short before the lending well runs dry.
Want deeper insight into the above analysis?
Contact:Â [email protected]
Managing Director Predictive Analytics, S3 Partners, LLC
For more information on S3â€™s reporting, data and analytics solutions, email us at [email protected]. Start your free trial of the BLACK App â€“ the only source of real-time short interest on the Bloomberg Terminal or Thomson Reuters Eikon.
For short side data and access to our research reports go to https://shortsight.com/ Â .