Biotech Stocks Sell Off, ETFs Fall Over 5%
Biotech stocks declined Tuesday as the broader market climbed to new highs. Biotech ETFs that fell more than 5 percent included:
iShares NASDAQ Biotechnology Index (ETF) (NASDAQ: IBB)
First Trust NYSE Arca Biotechnology Index Fund (EFT) (NYSE: FBT)
SPDR S&P Biotech (ETF) (NYSE: XBI)
Investors may see opportunities to buy individual stocks on weakness. Below are the top five holdings of each fund.
iShares NASDAQ Biotechnology Index:
Celgene Corporation (NASDAQ: CELG)
Amgen, Inc. (NASDAQ: AMGN)
Regeneron Pharmaceuticals Inc (NASDAQ: REGN)
Gilead Sciences, Inc. (NASDAQ: GILD)
Biogen Idec Inc (NASDAQ: BIIB)
First Trust NYSE Arca Biotechnology Index Fund:
Incyte Corporation (NASDAQ: INCY)
Nektar Therapeutics (NASDAQ: NKTR)
ISIS Pharmaceuticals, Inc. (NASDAQ: ISIS)
Celgene Corporation (NASDAQ: CELG)
Alkermes Plc (NASDAQ: ALKS)
SPDR S&P Biotech:
Agios Pharmaceuticals Inc (NASDAQ: AGIO)
Receptos Inc (NASDAQ: RCPT)
Incyte Corporation (NASDAQ: INCY)
Geron Corporation (NASDAQ: GERN)
AMAG Pharmaceuticals, Inc. (NASDAQ: AMAG)
Among the biggest losers Tuesday were ISIS Pharmaceuticals, which recently traded at $57.16 (down 9.1 percent) and Agios Pharmaceuticals, which recently traded at $108.32 (down 10.07 percent).
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