Defensive pharma giants Johnson & Johnson and Eli Lilly show minimal short interest as sector lags S&P 500 year-to-date.
Short interest in healthcare stocks remains heavily skewed toward high-volatility names like Tango Therapeutics (TNGX) and Hims & Hers Health (HIMS) as of late July 2026. Speculative bets dominate the sector, while defensive pharmaceutical leaders face minimal bearish pressure.
The Healthcare Select Sector SPDR Fund (XLV) has underperformed, rising just 5.01% year-to-date compared to the S&P 500’s 9.41% gain. The most shorted stocks include TNGX, HIMS, Acadia Healthcare (ACHC), Beam Therapeutics (BEAM), and Celcuity (CELC), while Oncocyte (ONC), BioNTech (BNTX), Bausch + Lomb (BLCO), Johnson & Johnson (JNJ), and Eli Lilly (LLY) show the least short interest.
Investor sentiment reflects a divide between speculative plays and established pharmaceuticals, with defensive names attracting fewer short sellers amid broader market outperformance.