ASCO Abstracts Week: Biotech Trends And Hot Stocks

Biotech Trends: Immuno-Oncology Stocks Trending Strong Await ASCO Meeting on June 2

Prices as of Monday 11:45A with Nasdaq up 0.73%

FBT $106.75 up 0.2%, IBB flat at $290.64, XBI at $69.33 up 0.3%

Here is a selection of  biotech trending stocks that have had significant moves or released ASCO Abstract news last week. The indices were flat to down last week: IBB down 1.64% to $290.45,  XBI down 1.27% to $69.13. We appear to be in a mode where stock picking will outperform the ETFs. However look at Monday’s performance to see which stocks held up from last week’s moves. ASCO Meeting coming up June 2-6.

Week of May 15-19 Friday Closing and Five Day as well as Monday May 22 performance.

 5 Day  5/22   

Alnylam Pharmaceuticals (ALNY) $71.67, up 26.26%, $72.72 up 1.47%

Unrelated to oncology but Alnylam got a boost for its Phase 3 drug patisiran, for familial amyloid polyneuropathy, because a competing drug from Ionis (IONS) reported safety issues.IONS stock is a relatively stable stock flat over 5 days but trending down in May.

bluebird bio (BLUE) $82.45 down 5.77%,  $78.95 down 4.24%

BLUE has been breaking down off its recent highs and March high of $97.85. bluebird bio will present its anti-BCMA CAR-T updated clinical results for Relapsed/Refractory Multiple Myeloma (bb2121 partnered with CELG) on June 6 at ASCO.

Clovis Oncology (CLVS) $52.24 up 9.75%,  $54.44 up 4.2%

Nothing new from Clovis Oncology on their PARP inhibitor ovarian cancer drug Rubraca but J.P.Morgan analyst Cory Kasimov upgraded the stock last week ahead of a Phase 3 maintenance study.

Epizyme (EPZM) $17.80 up 9%,  $16.80 down 6.15%

EPZM will present new clinical data for EZH2 inhibitor Tazemetostat at ASCO for Epitheloid sarcoma.EPZM stock is an uptrend and tracking its May high of $18.

Glycomimetics (GLYC) $12.76 up 135.94%, $11.18 down 12.38%

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Disclosure: None. 

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