Ultragenyx Pharmaceutical Inc

Ultragenyx Pharmaceutical (RARE) rebounded on December 14, 2015, after falling for four consecutive days. The stock rose 3.8% and was the top performer among the mid-cap stocks that day.

Early 2016 was not generous to the Wells Fargo Growth Fund – Class A (SGRAX), and the fund was a below-average performer until May. However, things have improved since then.

On July 19, PTC Therapeutics (PTCT) agreed to acquire Agilis Biotherapeutics. The acquisition is expected to close during Q3 2018.

The SPDR S&P Biotech ETF (XBI) reflected the performance of SPY and rose 0.2%, continuing its upward trend. XBI had a good month in May and began June on a positive note.

The Wells Fargo Growth Fund Class A (SGRAX) had fallen by 1% year-to-date (or YTD) in 2016 as of May 27, 2016.

IBB’s mid-cap holding Kite Pharma (KITE) rose by 3.3% on the news of the FDA granting orphan drug status to Kite’s KTE-C19.

In the mid-cap space, Horizon Pharma (HZNP) was the worst hit, falling by 21% for the week ended April 15, 2016.

Given selling pressures, XBI’s 18 mid-cap stocks went down marginally on average, losing 0.4% on March 16. Eight stocks advanced while ten stocks declined.

The moving averages of the stocks in the SPDR S&P Biotech ETF (XBI) have seen drastic improvements recently.

Shire (SHPG) announced that it will acquire Dyax (DYAX) for $37.30 per Dyax share in a deal valued at ~$5.9 billion.

Ultragenyx Pharmaceutical (RARE) fell by 8.2% due to profit-booking. It had a high trading volume of ~700,000 shares. The stock closed at $86.99.