Themes

ASX Biotech Stocks

Clinical-stage developers and commercial pharma, ranked by short interest.

15 constituents · short positions as of · ASIC data, T+4 delay

Median short

1.34%

across 15 constituents

Most shorted

TLX

10.39% of issued capital

Biggest 4-week riser

CSL

+0.35pp in 4 weeks

Above 5% short

4

of 15 constituents

Theme short interest over time

Weekly average · shaded band is the constituent range

Constituents

ASX Biotech Stocks
CodeShort %Δ 4wΔ 1mDays to cover
TLX10.39%-1.2pp+5.1%19.5
CUV8.50%-0.4pp+8.4%41.6
CU68.35%+0.1pp+17.5%13.3
MSB7.44%-0.1pp+8.2%38.6
NEU4.46%-0.6pp+38.1%9.3
IMM2.37%-1.3pp5.2
MYX2.28%-0.1pp+21.8%6.2
CSL1.34%+0.3pp+41.0%4.3
BOT0.58%+0.1pp2.0
IMU0.39%-0.8pp-11.1%1.0
PYC0.17%-0.1pp
AVH0.15%-0.1pp+93.2%0.2
PAR0.08%+0.1pp
DXB0.01%-0.0pp+39.1%0.0
OPT0.01%-0.5pp

Membership is curated and verified against company metadata — a wrong member is worse than a missing one. Refine further in the screener.

Latest biotech news

About this theme

Biotech short interest is priced off binary events. A clinical-stage company's value rests on trial readouts and regulatory decisions whose dates are public, so positions build ahead of them and clear immediately afterwards — the sharpest short-interest moves in this theme are calendar-driven rather than gradual. Between those dates the recurring bear case is dilution: companies without revenue fund trials by issuing stock, and a raise at a discount is the outcome a short is positioned for. Commercial-stage names attract a different argument about reimbursement decisions, competitor launches and the cost of building a sales force in the United States. The asymmetry is what makes this basket distinctive: an approval or a licensing deal can multiply a small-cap price overnight, so a crowded short in a thinly traded developer carries loss potential unlike anything in the mining or banking themes.

Short positions come from official ASIC short position reports (published with a T+4 trading-day delay) joined with daily price and volume data. The chart averages the constituents reporting in each week and shades the range between the least and most shorted of them; a member with no data that week is absent from the average rather than counted as zero.

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