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ALNY and JAZZ Hindered the Top 10 Mid-Cap Stocks on October 21

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Top 10 mid-cap stocks outperform IBB and SPY

The top ten mid-cap stocks of the iShares Nasdaq Biotechnology ETF (IBB) outperformed the IBB and the SPDR S&P 500 ETF (SPY) as of October 21, 2015, with a return of -0.2% compared to IBB’s -0.5% and SPY’s -0.6%.

With a combined weight of ~10.6% of IBB’s portfolio, the top ten mid-cap stocks also outperformed the top ten large-cap stocks. The top ten mid-cap stocks include Medivation (MDVN), Qiagen (QGEN), and Seattle Genetics (SGEN), which gave returns of -1.85%, -2.05%, and 1.70%, respectively.

Among the top ten stocks, five stocks ended up with positive returns and five stocks ended up with negative returns for the day. The above graph reflects the performance of IBB’s top ten mid-cap stocks compared with IBB and SPY.

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ALNY and JAZZ hinder the mid-cap performance

Alnylam Pharmaceuticals (ALNY) fell by 3.35% on profit booking. The stock had high trading volumes, with ~1.63 million shares being traded compared with the five-day average trading volume of ~1.1 million shares per day. ALNY closed at $75.02 and was trading below its 20-day, 50-day, and 100-day moving averages.

The 14-day RSI (Relative Strength Index) stood at 35, indicating that the stock is neither oversold nor overbought. However, if the downward trend continues, the stock could move into a temporarily oversold condition. At its current price, the stock is trading at a price-to-book value (or PBV) of 4.50x. ALNY has a weight of 1.15% in IBB’s portfolio.

Jazz Pharmaceuticals (JAZZ) also lost 3.22% on profit booking with high trading volumes of ~2 million shares compared to a five-day average trading volume of ~1.2 million shares per day. This is the third consecutive trading session that JAZZ has lost ground.

In the trailing five-day period, the stock has lost ~8.05%. JAZZ closed at $121.94 and was trading below its 20-day, 50-day, and 100-day moving averages. JAZZ has a weight of 1.4% in IBB’s portfolio.

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