The latest data shows that more than 600,000 shares have been covered and that represents a drop of more than 11% in the short positions. This means that in the country boy vernacular, NKTR is getting coiled 'tighter than #$%$ hat band'. Now all HR has to do is give us positive data promised by the end of September.
Cutting thru all the BS the real story as of 9/25/2013 is that only 4.22% of the float is short which is nothing. Means that nobody is going to stick their necks out at this point to short NKTR....and is a very bullish sign.
The shorts haven't given up. SI info is out today, and NKTR short interest is now back up to 4.8MM shares, up almost 800K shares in the past month.
Again, for the short term, the shorts have it wrong. In the period between 8/31 and 9/15, the share price moved up from $12.20 to $13.50. In the period between 8/15 and 9/15, the shares moved from $11.10 to $13.50.
With the shares currently at $13.67, their doesn't yet appear to be any relief for the latest short sellers.
As has been pointed out by myself and others, the thrust of all this however is that NKTR short sellers have been net buyers of over 11MM shares in the past year, suggesting their belief that the wheels are falling off this bus are in fact diminishing.