Biotechnology subgroup outperforms
The SPDR S&P Biotechnology ETF (XBI) provides exposure to subgroups such as Biotechnology, Healthcare Products, and Pharmaceuticals. Biotechnology has a weight of 65.43%, Pharmaceuticals has a weight of 31.75%, and Healthcare Products has a weight of 2.79%.
The Biotechnology subgroup returned 6.78%, Healthcare Products returned 3.84%, and Pharmaceuticals returned 5.99% for the week ended September 11, 2015. Thus, the Biotechnology subgroup outperformed XBI and the broader market representative SPDR S&P 500 ETF (SPY), which gave returns of 6.58% and 2.19%, respectively, for the week ended September 11, 2015.
The above graph reflects compares the subgroups of XBI with the overall XBI and SPY for the week ended September 11, 2015.
Kite Pharma and Juno Therapeutics led Biotechnology subgroup
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. On September 11, 2015, the stock closed at $63.63 and was trading above 20- and 100-day moving averages.
Juno Therapeutics (JUNO) rose 19.78%. As per the press release, JUNO will present at the 2015 Morgan Stanley Global Healthcare Conference. The presentation will include a business overview and updates. JUNO is trading below 50- and 100-day moving averages.
Alnylam Pharmaceuticals (ALNY) rose 10.75% for the week ended September 11, 2015. The stock rose as “ALNY accelerates development of ALN-GO1, a subcutaneously administered investigational RNAi therapeutic for the treatment of primary hyperoxaluria type 1 (PH1).” Also, ALNY recently 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.