Mixed Action Today In a Speculative Market

Market action is focused on small caps and speculation fed by deep pockets of cash and M&A ideas.

Several Rayno Life Science Stocks Were Up: ALKS, FCSC, FMI, RXDX, SGEN

Looks like a bit of a sell-off with a lot of the big clinical news already reflected in the stocks. Indices were down or flat still unable to move through the triple top. But speculation in some story stocks remains robust like Gene therapy or CAR-T–BLUE (BLUE). Former high flier Juno Therapeutics (JUNO) was up 6.6% to $56.57 on a Bloomberg mention on a Street Insider comment that Astra Zeneca (AZN) was considering a buyout of the Company. The companies had no comment. JUNO at ASCO on B-cell Cancer Therapy from Juno demonstrated encouraging clinical responses in B-cell cancers. JUNO has five clinical stage products  in development.

In the CAR-T area CLLS, KITE and ZIOP were also up in concert but BLUE missed the high note down 1.3% but up 37.5% for one month!

See our past articles on CAR-T and immuno-oncology stocks as well as Mid -Cap leaders.

Other “immuno-oncology” losers: Celldex (CLDX) down 2.98%, Clovis Oncology (CLVS) down 4.82%, Medivation (MDVN) down 3.7%, PUMA Biotechnology (PUMA) a former high flier was down again 13.7% to the $146 level. PUMA still has a hefty $5.5 B market cap. Immunogen (IMGN) which soared yesterday gave a lot back down 9.13% to $14.

Only CLDX and CLVS above are on our focus list.

Rayno Large and Small Cap Motifs

Large caps were slightly down to flat tracking major ETFs.

Alkermes (ALKS) and Seattle Genetics (SGEN) with ASCO data for ADCETRIS were in the green.

Rayno Small Cap Motif

Fibrocell Science (FCSC) up 3.99% to $4.95.

Foundation Medicine (FMI) up 1.31% to $35.46

Ignyta (RXDX) continues to run up 6.24% to $15.83