Life Science Stocks Have a Big Day
The Rayno Biopharmaceutical Portfolio was up over 3.7% today as all biotechnology stocks pretty much tracked NASDAQ which was up 3.5%. Although we remain cautious with no new buys we have a good chance for a Q4 rally as the sector is outperforming NASDAQ quarter to date. Within our Biopharmaceutical Portfolio only one stock Albany Molecular (AMRI $2.18) was down 1.36%. The biotech ETF’s -IBB ($98.93) and XBI ($62.86)-also tracked the NASDAQ up 3.45% (5.9% YTD)and 5.15%(down 0.35% YTD) respectively.
Diagnostics and tools stocks also did well but Illumina (ILMN $27.09) was down 0.77% still reeling from Q3 financial results and lack of guidance.