XBI top ten perform better
Going by market cap (capitalization), the top ten stocks of the SPDR S&P Biotech ETF (XBI) outperformed the top ten stocks from the iShares Nasdaq Biotechnology ETF (IBB) from August 25–31. XBI also outperformed the top ten stocks of the Health Care Select Sector SPDR ETF (XLV). XBI’s top ten returned 6.25%, IBB’s top ten gained 3.97%, and XLV’s top ten returned 1.91%.
The above graph reflects the performance of the top ten stocks by market cap of three ETFs. IBB’s top ten have a weight of 56.59%, XLV’s top ten have a weight of 52.52%, and XBI’s top ten have a weight of 10.34%.
Incyte and Biomarin help XBI, Shire helps IBB
Incyte (INCY) gained 19.22% for August 25–31 on high-volume trading. The stock was oversold and has pulled back from the oversold situation with good volume trading. The five-day average trading volume was 1.6 million shares per day.
Biomarin Pharmaceutical (BMRN) gained 7.04%. According to an MDLinx press release, BMRN announced that “the company will present data in two oral and 19 poster presentations at the Society for the Study of Inborn Errors of Metabolism 2015 Annual Meeting which will be held on September 1–4 in Lyon, France.”
The presentation includes data from the Phase 2 study of pegvaliase in adults with phenylketonuria (or PKU) and an overview of the reveglucosidase alfa (or BMN 701) clinical program in late-onset Pompe disease. Additionally, presentations on 11 abstracts on mucopolysaccharidosis will be made. BMRN has a weight of 2.41% in IBB and 4.41% in XBI.
Shire (SHPG) was the top performer of IBB’s top ten by market-cap with a return of 7.04%. According to a company press release, Shire “has entered into an agreement with Sanquin Blood Supply, the manufacturer of CINRYZE® (C1 esterase inhibitor [human]), providing Shire access to its manufacturing technology and allowing Shire to source additional manufacturers to meet the growing demand for CINRYZE.” SHPG has a weight of 1.79% in IBB.