Biotech Movers During ASCO Week: Is It Trading or a Trend?

• Smaller caps and novel therapies RHAi getting traction
• Best week in Biotech for 2021; but eased on Friday.
• Earnings look positive for next Q2 reporting.

Many biotech stocks were movers this week as a bullish sentiment took hold sparked by the Biogen Aduhelm approval. Biogen trading is likely to be choppy and news driven. A few healthcare conferences helped the sentiment. We will recap our Mini-Healthcare portfolio tomorrow with focus on XLV, but first a biotech sector summary in a good ASCO week. We added to our core large cap portfolio with PFE. The IBB was up 1.5 % at 161.9 and the XBI up 6.9% at $135.60 and even two managed funds we own were up: FBIOX PHRSX.

We initiated a number of smaller cap buys (or additions) since mid-May and here is the weekly performance: ARK Genomics (ARKG) up 8%, CRISPER Therapeutics (CRSP) up 11%, Cryoport (CYRX) up 4%, Mind Medicine (MNMD) up 7.2%, Pacific Bioscience (PACB) up 10.68%, Veracyte (VCYT) up 9.4%. We wrote about these stocks in the past and many were damaged in the last sell-off. They are high beta and volatile .

Here are several (among many)  big biotech movers of the week (no positions):

Arrowhead Pharmaceuticals (ARWR) up 16 % to 88 on last week’s announcement on Phase 2b (RNAi) therapy for severe hypertrigyceridemia (SHTG).

Biohaven Pharmaceutical Holding Company (BHVN)  up 10% on potential of migraine drug Nurtec.ARWR

Dicerna (DRNA) pharmaceuticals up over 15% for the week, another RNAi gene silencing therapy Company with 3 programs in clinical trial.

Fate Therapeutics (FATE) recovered up about 25% from downtrend on interim Phase I data for B cell Lymphoma. 

DNA Tools companies saw gains: A, GH, ILMN, NVTA, PKI, TWST, TXG.

Gene therapy stock leader NTLA was up 10 points near a 52-week high. Also having a good week were vaccine leaders BNTX and MRNA.