The stock performance of most companies with ASCO news is summarized below. Biotechnology stocks are driven by clinical and deal news so here are some trends to consider:
- Anticipation of positive news from ASCO drove gains before the Meeting. The rally began in late May just after Abstracts were released.The XBI is up 4.9% over the past month.
- Stocks usually sell-off after the news but consider which stocks can hold near their highs.
- Individual stocks with notable news were very strong and the overall sector is still up this week.Big winners were BLUE, CLVS, KITE LOXO and PUMA.
- CAR-T stocks bluebird bio (BLUE) and Kite Pharma (KITE) were huge winners.
- The biotech sector is outperforming the market in 2017 up 18-21% YTD.
In our next review of ASCO related stocks we will look through the data to identify breakthrough product potential and upgrades.
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