AstraZeneca Revises Vaccine Efficacy Rate, Stock Inches Higher

Short sellers have been coming out in droves lately

Digital Content Manager
Mar 25, 2021 at 10:07 AM
facebook twitter linkedin

The shares of AstraZeneca plc (NASDAQ:AZN) have seen a lot of movement lately, with the drugmaker's Covid-19 vaccine popping up in the news almost daily. Once again, the security is making headlines today, after announcing that previous claims that its vaccine was 79% effective against protecting patients from coronavirus symptoms during its phase three trial were incorrect, and that the vaccine actually has a 76% efficacy rate. The security is attempting to brush off this gaff, and was last seen up 0.3% to trade at $48.89.

As we mentioned, it's been bumpy road for AZN during the past year. While Monday's news allowed the equity to briefly top its 80-day moving average -- a trendline that's more or less kept a lid on shares since last September -- the takeover was brief, and now the equity is struggling just below its year-to-date breakeven, though it still sports a year-over-year lead of around 21%. 

Amid all the chaos, short sellers have been piling on AZN, with short interest up 30.9% in the last two reporting periods. There's still plenty of room on this bearish bandwagon, however, as the 86.28 million shares sold short make up just 3.3% of AZN's available float. 



Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 


300x250 - Banner 3 - v1