Bottom ten stocks outperform top ten
Going by the market cap, the top ten stocks of the Biotechnology subgroup of the SPDR S&P Biotechnology ETF (XBI) underperformed the bottom ten stocks of the subgroup for the week ended September 11, 2015. The average return of the top ten Biotechnology stocks was 5.78% whereas the bottom ten stocks returned an average of 7.75%. The combined weight of the top ten stocks is 9.87% whereas the combined weight of bottom ten stocks is 7.43% of XBI. The top ten biotechnology stocks include Gilead Sciences (GILD), Amgen (AMGN), Celgene (CELG), and Biogen (BIIB).
The above graph reflects the performance of the top ten and bottom ten stocks of the Biotechnology subgroup within the XBI.
Advaxis led the bottom ten while Incyte led the top ten
Advaxis (ADXS) rose 24.54% for the week ended September 11, 2015. The stock rose as Advaxis received the Medical Visionary Award from the Farrah Fawcett Foundation for collaborative research in HPV-associated anal cancer. It also announced plans to initiate the phase II study of axalimogene filolisbac (ADXS-HPV) in metastatic anal cancer this fall. Investors were responsive to the news, and the stock rose ~25% for the week. ADXS has a weight of 0.61% in XBI.
In the top ten, Incyte (INCY) outperformed others with a return of 12.87%. Incyte presented at the Bank of America Merrill Lynch Global Healthcare Conference and the Morgan Stanley Global Healthcare Conference, both on September 17, 2015. INCY closed at $131.01 and was trading above 20-, 50-, and 100-day moving averages. INCY has a weight of 0.91% in XBI.
Alnylam Pharmaceuticals (ALNY) gained 10.75% for the week ended September 11, 2015. The stock went up as “ALNY accelerates development of ALN-GO1, a subcutaneously administered investigational RNAi therapeutic for the treatment of primary hyperoxaluria type 1 (PH1).” Also, ALNY presented at the Morgan Stanley Global Healthcare Conference and will present at the Leerink Partners 4th Annual Rare Disease Roundtable to be held in New York City on September 30. The stock has a weight of 0.89% in XBI.