Biotech Action Today is Muddled-Midday Selloff presumably on “Recycling” of China Trade Chatter

Uncertainty Remains on Trade War and Tariffs

  • Little rally in gene therapy stocks; 1% + Winners include QURE RGNX SRPT; XBI up only 0.26% as rally faded.
  • Mixed tape in mid-caps: Notable winners MRNA up 8.49% to $17.50 on Q3 and business update. Stock is below IPO price in high teens.NKTR up 3.3%, ICPT up 2.13%.
  • Good support in large caps: AMGN ALXN BMY REGN all up.  But GILD takes a 2.22%  hit on HIV prevention patents lawsuit from Trump Administration.
  • Sector rotation to energy on crude gains-ALE up 1.5%.
  • Quadruple top in IWM raises concerns; 160 level top?

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