Rochester,NY 7/10/2009 10:39:07 PM
Mid Morning Stock Report - GENZ - Short-Squeeze Opportunities in Biotech - Sourced WhisperFromWallStreet.com
Genzyme Corp.
Mid Morning Stock Report - GENZ - Short-Squeeze Opportunities in Biotech - Sourced WhisperFromWallStreet.com
Genzyme Corp. GENZ
Last Tuesday, Geron(GERN Quote) spiked by as much as 21% after forming an alliance with GE Healthcare, a unit of General Electric(GE Quote), to develop test products from embryonic stem cells.
A likely contributor to Geron's quick rise was that more than 16% of the stock's float was shorted, which could have caused a short squeeze.
A short squeeze occurs when short-sellers quickly buy in shares of a stock in order to cover their bearish positions, driving the price of the stock up sharply. The ratio for measuring short squeeze opportunities, called the short ratio, reflects the number of days it would take the short-sellers to cover their positions based on recent average daily volume.
Last Trade: 54.20
Day's Range: 53.26 - 54.39
52wk Range: 50.05 - 83.97
Volume: 658,173
ABOUT - Genzyme Corp.
Genzyme Corporation operates as a biotechnology company worldwide. The company's Genetic Diseases segment manufactures and distributes therapeutic products, including Cerezyme as an enzyme replacement therapy for the treatment of Type 1 and Type 3 Gaucher diseases; Fabrazyme, a recombinant form of the human enzyme alpha- galactosidase for the treatment of Fabry disease; Myozyme as a therapy for Pompe disease; and Aldurazyme for the treatment of Mucopolysaccharidosis I. This segment markets and sells its products directly to physicians, hospitals, treatment centers, pharmacies, and government agencies through distributors. Its Cardiometabolic and Renal segment develops, manufactures, and distributes products consisting of Renagel and Renvela for the control of serum phosphorus in patients with chronic kidney disease on dialysis; Hectorol, a line of vitamin D2 pro-hormone products for the treatment of secondary hyperparathyroidism; and Thyrogen, an adjunctive diagnostic agent used in the follow-up of patients with well-differentiated thyroid cancer.
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