Good Week for Biotech: FBT up 6.29%, IBB up 4.44%, XBI up 6.26%
Biotech stocks continued their strong recovery from the big sell-off in the prior week but about 3% under 2018 highs. Biotech ETFs tracked the QQQ up 5.68% for the week but biotech stocks are leaders YTD beating the S&P 500.
Here are weekly gains for Rayno Large Cap Biopharma picks:
- Abbvie (ABBV) up 6.54%
- Amgen (AMGN) up 5.82%
- Bristol-Myers Squibb (BMY) up 9.98%
- Celgene (CELG) up 2.97%.
- Gilead Sciences (GILD) up 1.74%
- Our speculative picks also did well: bluebird bio (BLUE) up 11.24%, Foundation Medicine (FMI) up 15.5%
Another Biotech Deal, Another Rally
- Bristol-Myers Squibb Expands Immuno-Oncology Pipeline With Nektar
- FBT up 2.8%, IBB up 2%, XBI up 2.6%: Momentum Returns
- Market Ignores CPI News with NAZ Up 1.9% but 10 yr Yield is 2.91%
Disclosure: long AMGN BMY with new trades added KPTI SGEN XBI