AstraZeneca PLC Sees Significant Rise in Short Interest

AstraZeneca PLC (NASDAQ:AZN) has experienced a notable surge in short interest during December. By December 15th, total short interest amounted to 10,060,000 shares, representing a 35.9% increase from the November 30th figure of 7,400,000 shares. With an average trading volume of 5,640,000 shares, this gives a days-to-cover ratio of 1.8 days.

Recent Analyst Insights

Analysts on Wall Street have shared various opinions about AstraZeneca recently. On November 20th, UBS Group upgraded the stock from a "sell" to a "neutral" rating. Prior to this, Erste Group Bank elevated their rating from "hold" to "buy" on September 11th. Similarly, Deutsche Bank also changed its stance, moving from "sell" to "hold" on November 6th. Currently, three analysts have given a "hold" rating, six have rated it as a "buy," and two have a "strong buy" rating for the stock. According to data from MarketBeat, AstraZeneca has a consensus rating of "Moderate Buy" with a target price averaging around $89.75.

AstraZeneca's Recent Stock Performance

On the trading day of Friday, AstraZeneca's stock saw a decrease of $0.26, reaching a price of $66.26. The trading volume was recorded at 4,700,368 shares, which is slightly below its average of 5,330,917 shares. The market capitalization of the company is approximately $205.45 billion, with a P/E ratio standing at 31.70, a P/E/G ratio of 1.19, and a beta of 0.45. The stock's 50-day moving average is $67.85, while its 200-day moving average is $75.82. Over the past year, AstraZeneca's stock has varied, hitting a low of $60.47 and a high of $87.68. The company maintains a current ratio of 0.93, a quick ratio of 0.71, and a debt-to-equity ratio of 0.71.

Institutional Investors' Activities

Several hedge funds have recently adjusted their holdings in AstraZeneca. FMR LLC increased its stake by 1.1% in the third quarter, now owning 23,117,447 shares valued at $1.80 billion after acquiring an additional 258,477 shares. Franklin Resources Inc. raised its position by 8.7%, owning 19,122,675 shares worth about $1.49 billion after gaining 1,522,715 shares. Similarly, Fisher Asset Management LLC also enhanced its stake by 5.3%, holding 10,480,160 shares valued at $816.51 million after acquiring 524,175 shares. Additionally, Envestnet Asset Management Inc. and Clearbridge Investments LLC increased their stakes by 16.7% and 5.8%, respectively. Overall, institutional investors hold around 20.35% of AstraZeneca’s stock.

About AstraZeneca

AstraZeneca PLC is a prominent biopharmaceutical company that focuses on the discovery, development, manufacture, and commercialization of prescription medications. Its product lineup includes medicines for various health conditions, particularly in oncology and cardiovascular health.

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