Mayne Pharma Group Ltd share price continues to slide lower

Unfortunately for its shareholders, the Mayne Pharma Group Ltd (ASX: MYX) share price is once again in the red.

In late afternoon trade the pharmaceutical company’s shares are down over 2% to $1.01, bringing its decline over the last five trading sessions to over 10% and leaving it hovering just a fraction above its 52-week low.

Why have its shares fallen?

Investors have been avoiding the company this year due largely to allegations of drugs price-fixing in the United States and concerns over the impact that President Trump’s policies on generic drug prices will have on its sales.

Unfortunately, the only investors that appear to be interested in its shares right now are short sellers. Earlier in the week we revealed that short sellers held approximately 12.6% of the company’s shares.

Despite its shares falling 43% in the last 12 months, short sellers appear to believe it has further to fall.

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Motley Fool contributor Motley Fool Staff has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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