Basically a mixed day in the sector, which is perhaps to be expected with so many traders focused on the ECB decision. Oddly it seemed that most thought there would be a significant move but the market basically yawned away the decision. The day, of course, is still young so perhaps there are more fireworks […]
June 4 Biotech Update- The Post-ASCO Blue
So another ASCO is in the books and it seems like a fairly bland conference with relatively few significant stock reactions. Over the next couple of days I will sort out both what I saw as the major themes in the data but also the elusive “buzz.” In other words, there are the facts as […]
Biotech Fund Action in the Run Up to ASCO
(This is a guest post by Emory Redd and the disclosures are his at the bottom as well. I also apologize for the table formatting. They actually look much better in word but I cannot figure out how to get them to work in wordpress. I was running out of time to get this out […]
May 30 Quick Biotech Update
I am in the midst of finalizing everything as I get ready to leave for ASCO but I wanted to send out a very quick note on CLVS. I have talked about it as a potential high risk/high reward ASCO play and there was a lot of activity in the calls yesterday (mainly the $65 […]
May 29 Biotech Update
Generally a good day in the market and it is nice to see small caps participating in the rally. All of my previous caveats apply as to where the market may go. I would also note that the sector generally sells off after ASCO. So even if we get a continuation of this positive price […]
May 28 Biotech Update
Of course, there was a storm last night that knocked out the entire internet connection at LSU, so this is going to be later than usual and I have not been able to follow the market at all. I am getting this posted by hook and crook and hope to be back to normal tomorrow. […]
May 27 Biotech Update
It was a good start to the week with some notable underperformers. Not a lot of news but the sector seemed to be performing well, which is in line with the broader market. It does seem, however, that a number of small caps were getting a nice bid and outperforming which is something we have […]
May 23 Biotech Update
I expect today is going to slow dramatically as people get ready for the long weekend. As such, I want to get this out as early as possible to catch everyone. That being said there are a couple of things I want to touch on before the weekend. 1. How times for changed for GILD […]
May 22 Biotech Update
Not a lot new in the market. The sector started off well as the broader market provided a relatively neutral if not slightly bullish backdrop. As I have been saying I expect biotech and the market to track for a little while and that another larger move is in the offering. The fundamentals of the […]
May 21 Biotech Update- A Little More Drama
It was a quiet day in the market. The sector started off well but it seemed to simply be following the broader market. I still think we are unfortunately tied to the macro and that the next move in the sector will be with the market. It could be that if the move is down […]
May 20 Biotech Update
The market remains neutral in that stocks are reacting to news in predictable ways and there does not seem any real bid or selling to the sector in general. It seems like people have their positions established and are adjusting them when new information arises but other than that there does not seem to be […]
May 19 Biotech Update- The Merger Drama
It was certainly an interesting start to the week in terms of the PFE/AZN drama but the price action outside of those names was somewhat muted (I guess also outside the ITMN move). My point is that outside the names directly related to news, there was nothing significant and more of a trending day (with […]
May 16 Biotech Update- A CLL Battle Royale
A somewhat quiet day in the market as the ASCO abstracts hangover continues. Today I am going to focus solely on PCYC and ABBV as I think I have an off of consensus view and I want to be clear on my thought process. In general, PCYC has been selling off and ABBV has been […]
May 15 Biotech Update- The ASCO Deluge Begins
So there is a lot to talk about with the ASCO abstracts and I will divide this up over a couple of days (I am trying to write quickly to get this out so excuse typos and poor grammar for the next couple of days). In general, I think the sense is that these are […]
May 14 Biotech Update- The Wait is Almost Over
Happy ASCO abstracts day. I would expect volatility as we get later into the day and perhaps some significant moves into tomorrow and then ASCO. I know the expectation of no ASCO run up but I still lean against that consensus and expect a run up into ASCO (especially if there is something to spark […]
May 13 Biotech Update- As We Wait for ASCO
Another good start for the sector today and this is certainly feeling like a change in sentiment but we need to remain cautious. That being said, I would lean toward being a more aggressive buyer on pullbacks as we are finally starting to see some bids in the mid to small cap space. I have […]
May 12 Biotech Update- Gearing Up for ASCO
We are getting into the ASCO frenzy and so it is not surprising that biotechs caught a bid this morning. It could just be coincidence or it could be yet another false start but we have been basing for a little while, so perhaps this is something more significant. The next leg higher will start […]
May 8- The Biotech Draft
While there are some stock specific pieces of news, I want to do something a little different today in honor of the NFL draft. I am going to draft my top 10 stocks. This is assuming that I have no positions at all, so this is not what I would be buying now but if […]
May 7 Biotech Update
I feel like a repeating record in that there is nothing really news worthy today and of course I am a certainly repeating myself in terms of the sector selling. I will just highlight some points that I have talked about before but seem germane for today. First, we are looking at a pretty bifurcated […]
May 6 Biotech Update- The Slow Week Cotinues
It was another pretty blah day in biotech land. I guess this is making up for all the news we have had the past couple of weeks. As I expected, the biggest news of the days is MRK business update (you can download the slides here) and the early verdict is that they are making […]
