TD Cowen released data on short interest in a group of life science tools and diagnostics companies as of May 29, with the information published on Tuesday. The dataset highlights where investors have been increasing or decreasing their short exposure within the sector.
Among the stocks tracked, Exagen Inc. (NASDAQ:XGN), Waters Corp. (NYSE:WAT), Avantor Inc. (NYSE:AVTR), and Myriad Genetics Inc. (NASDAQ:MYGN) registered the largest increases in short interest during the reporting period. TD Cowen noted that none of those increases amounted to more than 0.6% of shares outstanding.
On the other side of the ledger, the largest declines in short interest were observed at 10X Genomics Inc. (NASDAQ:TXG), Pacific Biosciences of California Inc. (NASDAQ:PACB), Tempur Sealy International Inc. (NYSE:TEM), GRAIL Inc. (NASDAQ:GRAL), and Qiagen N.V. (NYSE:QGEN).
TD Cowen also singled out the names carrying the heaviest short positions within the cohort. The four most heavily shorted names identified were Tempur Sealy International, Pacific Biosciences, GeneDx Holdings Corp. (NASDAQ:WGS), and GRAIL.
Short interest is defined as the number of shares that have been sold short and remain open - that is, sold but not yet covered or closed out. The figures provided by TD Cowen therefore represent a snapshot of outstanding short positions at the specified date.
The report presents a cross-section of short interest activity across the life science tools and diagnostics sector. It documents both marginal increases in short exposure for certain names and more pronounced reductions for others, as well as identifying which companies held the largest outstanding short positions at the time of the snapshot.
Methodological note: The data reflect short interest as of May 29 and were published by TD Cowen on Tuesday. The numbers cited are limited to the sample of stocks included in TD Cowen's release and represent that specific reporting date.