|Bid||21.59 x 800|
|Ask||23.25 x 900|
|Day's Range||20.70 - 21.65|
|52 Week Range||17.82 - 24.57|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||-4.27%|
|Beta (5Y Monthly)||1.54|
|Expense Ratio (net)||0.79%|
The biotech space of the broad healthcare sector outperformed others in November, courtesy of a series of positive news including study results, regulatory backdrop and deal activities.
Biotechnology company Amgen (AMGN) is throwing $2.7 billion into BeiGene (BGNE), sending the Chinese biotech's shares surging and bolstering sector-related ETFs. CNCR was also testing its long-term resistance at the 200-day simple moving average. Amgen announced it was investing $2.7 billion into BeiGene, and the Chinese firm will begin commercializing some of Amgen's cancer drugs to be sold in Chinese markets, CNBC reports.
The cancer immunotherapy ETF is soaring today as some of its holdings presented very promising results at the ASCO conference. Find out more on the podcast.
A version of this article was published in the December 2018 issue of Morningstar ETFInvestor. Download a complimentary copy of Morningstar ETFInvestor by visiting the website. Simple, compelling stories tap into our emotions, hijack our ability to think rationally, and persuade us to pursue investments that are unlikely to perform well. The South Sea Company of early 18th century England exemplifies how a well-spun narrative can cause investors to ignore facts and disrupt their ability to make sound investment decisions.
After a solid comeback, the momentum on the Wall Street cooled down last week given the round of dismal data across the globe, the European Central Bank's surprise move and dismal U.S. jobs data that renewed threats of global slowdown.
Healthcare companies were among the worst performing stocks Wednesday, with biotechnology sector-specific ETFs taking the brunt of the hit, after FDA Commissioner Scott Gottlieb unexpectedly resigned, ...