Update-2 6/20…Strong finish for biotech on Friday with XBI up 2.83% to $108.85, up 5.64% for week; and one year high.
- Coronavirus strong stocks for the week: GNMK HOLX NVAX RGEN TDOC VIR .
- Quidel (QDEL) rests at $210 handle after rocketing from $170 level on June12.
- GILD made a big move Friday of 4.63% to $77.47.
- All major subsectors of biopharma were strong: gene therapy, mid-caps, large caps.
- IBB was up 5.75% for the week.
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Update-1 12:30p COVID cases Rise in AZ, FLA and TX as Businesses Re-open
- COVID Dx shakeout? as FDA Cuts Chembio (CEMI) Ab Test Emergency rights.
- GNMK, HOLX and QDEL other Dx stocks up; CEMI down 60%.
- Winners at midday trading: REGN up 1.6%,TDOC up 2.8%,VIR up 2.8%.
- NVAX up 8.94%
- NAZ up 0.76%.
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What’s Next for Coronavirus stocks? More volatility is expected.
Dexamethasone data offers hope for more severe cases of COVID infection..
Diagnostic field is large with many strong players but some products have performance issues.
The market on Tuesday 6/16 had a big upside catalyzed by an 18% increase in U.S. retail sales and clinical results for an existing steroid drug dexamethasone. All the major averages were up with a surprising 2.3% gain in the lagging Russell 2000. Speculation is active. Coronavirus stocks were mixed with vaccine plays weaker: BioNTech (BNTX), Inovio (INO) down 1.87% and Moderna (MRNA) down 3.35% . NVAX held up 2.11% and is the leading vaccine.stock with a YTD gain of 1210%! Here are other big vaccine winners YTD in 2020: INO up 329%, MRNA up 296% , BNTX up 50%.
Diagnostic stocks remain the hot ticket with Quidel (QDEL) up 1.87% to $207.24 continuing its meteoric run-up . Smaller diagnostic plays sold off: CEMI down 4.98%, CODX down 4.19%.With coronavius diagnostic testing expected to grow rapidly we should focus on these companies near term. However several major companies have molecular diagnostic products on the market including Abbott (ABT), Danaher (DHR), ThermoFisher (TMO) and Roche (RHHBY). The Dx field is quite large and it will take two or three quarters of sales and product evaluations to see the product leaders. One issue that has come up is the accuracy of the antibody test and more recently the antigen (virus) test. And there are not yet any published performance data comparing the products.
Our four core holdings on the list are Genmark Diagnostics (GNMK), Gilead Sciences (GILD), TeleDoc (TDOC) and VIR Bio (VIR).
Note the scoreboard prices and performance are for 6/15 with updated prices on 6/16 on a big upside day for the general market.
| Company | Stock | 3/6 P | %Perf | 3/16 P | MCap | 4/30 | 6/15/P | %Perf | 6/16 P |
| week | $B 3/16 | YTD | |||||||
| Co-Diagnostics | CODX | 12.89 | -8.83 | 9.09 | 0.226 | 11.34 | 17.42 | 1846 | 16.69 |
| Gilead Sci | GILD | 80.23 | 8.5 | 68.9 | 87.06 | 84 | 73.97 | 13.84 | 74.62 |
| Genmark Dx | GNMK | 4.54 | 0.275 | 12.51 | 12.05 | 150.52 | 11.99 | ||
| Inovio | INO | 14.09 | 166.31 | 6.13 | 1.12 | 12.03 | 14.15 | 328.79 | 13.90 |
| Moderna | MRNA | 29.61 | 8.6 | 26.49 | 9.77 | 46 | 66.57 | 296.25 | 64.34 |
| Regeneron | REGN | 494.43 | 8.3 | 440.83 | 48.5 | 525.9 | 590.6 | 89.87 | 592.90 |
| Teledoc | TDOC | 135.9 | 9.6 | 116,74 | 8.49 | 164.6 | 188.28 | 134.22 | 188.41 |
| VIr BIO | VIR | 45.7 | 15.1 | 45.76 | 4.61 | 30.51 | 35.63 | 126.22 | 36.38 |
| BioNTec | BNTX | 40 | 47.48 | 50.85 | 50 | 49.90 | |||
| ChemBio Dx | CEMI | 2.36 | 12.7 | 10.45 | 129.2 | 9.93 | |||
| Hologic | HOLX | 32.25 | 50.1 | 52.4 | 0.36 | 52.83 | |||
| NovaVax | NVAX | 6.91 | 18.13 | 51.07 | 1210 | 52.15 | |||
| Quidel | QDEL | 74.2 | 139 | 203.4 | 171 | 207.24 | |||
| IBB | 130.5 | 8.29 | 132.33 | ||||||
| XBI | 103.06 | 8.36 | 104.65 | ||||||