Performance of top ten stocks by weight in Biotechnology subgroup
Within the Biotechnology subgroup of the SPDR S&P Biotechnology ETF (XBI), the average return of the top ten stocks by weight was 9.63%. The top ten stocks outperformed XBI and the SPDR S&P 500 ETF (SPY) for the week ended September 11, 2015. The combined weight of the top ten stocks of XBI’s Biotechnology subgroup was 13.04%.
The above graph compares the top ten stocks of XBI’s Biotechnology subgroup with the overall XBI and SPY for the week ended September 11. The top ten of the Biotechnology subgroup include stocks such as Kite Pharma (KITE), Intrexon (XON), and Novavax (NVAX). KITE returned 21.94%, while XON and NVAX returned 8.91% and -3.94%, respectively.
Kite Pharma led the top ten Biotechnology stocks
Kite Pharma (KITE) rose 21.94% on the news that the EMA’s (European Medicines Agency) Committee for Orphan Medicinal Products, or COMP, had recommended KTE-C19 as an orphan medicinal product in the treatment of PMBCL and MCL. ” KITE has a weight of 1.17% in XBI.
Intrexon (XON) rose 8.91% and bounced back from its recent low of $41.21. The stock closed at $44.88 on September 11, 2015, trading just above its 20-day moving average. Per its press release, XON recently participated in J.P Morgan’s Sixth Annual US ‘All Stars’ Conference in London.
On the other hand, Novavax (NVAX) fell 3.94% on profit booking with high trading volumes. It recorded an average trade of ~4.9 million shares per day for the week. The stock is trading at its 100-day moving average. However, it is trading below its 20- and 50-day moving averages.