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Seattle Genetics Leads XBI Mid-Cap Stocks

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XBI top ten mid-cap stocks rise 5.33%

The top ten mid-cap stocks of the SPDR S&P Biotechnology ETF (XBI) by market cap gained 5.33% for the week ended September 11, 2015. The combined weight of these stocks within XBI was 10.51%. The mid-cap space includes stocks such as Alnylam Pharmaceuticals (ALNY), Receptos (RCPT), ISIS Pharmaceuticals (ISIS), and Medivation (MDVN).

The above graph reflects the performance of XBI’s top ten mid-cap stocks for the week ended September 11.

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Seattle Genetics leads the XBI mid-cap stocks

Seattle Genetics (SGEN) rose 14.56% for the week ended September 11, 2015. The stock closed at $45.01 and moved back to 20-day, 50-day, and 100-day moving averages. According to the press release, SGEN announced that the company and its collaborator, Takeda Pharmaceutical, completed patient enrollment in the Phase 3 ALCANZA clinical trial. The trial will evaluate Adcetris (brentuximab vedotin) in CD30-expressing cutaneous T-cell lymphoma (CTCL).

SGEN also announced the pricing of its public offering of common stock at $41 per share. SGEN has a weight of 0.91% in XBI.

Alnylam Pharmaceuticals (ALNY) rose 10.75% for the week ended September 11, 2015. The stock went up as “Alnylam accelerates development of ALN-GO1, a subcutaneously administered investigational RNAi therapeutic for the treatment of primary hyperoxaluria type 1 (PH1).”

ALNY was also prepared to present at the Morgan Stanley Global Healthcare Conference and the Leerink Partners 4th Annual Rare Disease Roundtable held in New York City. The stock has a weight of 0.89% in XBI.

On the other hand, Opko Health (OPK) fell 7.77% for the same period. According to the press release, OPK “announced a global license agreement with The Scripps Research Institute ([or] TSRI) for the development and commercialization of novel lipoprotein signal peptidase (‘Lsp’) inhibitors developed and discovered using a proprietary high throughput screening technology funded and exclusively licensed by OPKO from TSRI.”

This didn’t excite investors, however. OPK has a weight of 0.96% in XBI.

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