Top ten mid-cap stocks underperform top ten large-cap stocks
Within the SPDR S&P Biotech ETF (XBI) and going by the market-cap, the top ten mid-cap stocks’ average return stood at -16.14%. In the large-cap space, all the top ten stocks were down in the range of -8% to -24%. The top ten mid-cap stocks underperformed XBI, which returned -15.03%.
The above graph reflects the performance of the top ten mid-cap stocks of XBI on a week-over-week basis since the week ended September 4, 2015. Except for the week ended September 25, 2015, the top ten mid-cap stocks have given positive returns and thus outperformed the top-ten large-cap stocks for the same period.
ALNY and XON drag down mid-cap stocks
Alnylam Pharmaceuticals (ALNY) and Intrexon (XON) dragged down mid-cap stocks for the week ended September 25. ALNY fell 22.37% for the week, closing at $83.72. It was trading below the 20-day, 50-day, and 100-day moving averages. The 14-day RSI (Relative Strength Index) stood at 29, indicating the stock has moved into oversold territory.
On the positive side, on September 24, ALNY hosted an online RNAi Roundtable and discussed the progress of ALN-AS1, an investigational RNAi (RNA interference) therapeutic for the treatment of acute hepatic porphyrias. It also discussed the initial results of the ALN-AS1 Phase 1 clinical trial, which seem to be encouraging. ALNY has a weight of 0.89% in XBI’s portfolio.
Intrexon (XON) fell 21.18% for the week ended September 25. XON stock closed at $39.34 and was trading below the 20-day, 50-day, and 100-day moving averages. But there was also positive news. According to a September 25 Bloomberg report, “Fibrocell Science, Inc. and Intrexon Corporation provided an update on the status of the previously filed Investigational New Drug ([or]IND) application for FCX-007, Fibrocell’s orphan gene-therapy drug candidate for the treatment of recessive dystrophic epidermolysis bullosa ([or]RDEB), including feedback from the U.S. Food and Drug Administration ([or]FDA) on the IND.”
XON has a weight of 1.34% in XBI’s portfolio.