Investors like what they see and hear at BIO 2015

After several weeks of consolidation biotech stocks took off along with Nasdaq to new all time highs.The Nasdaq Composite took out its all-time intraday high and closed at 5132.95 up 1.34%. The FED once again provided the backdrop of low interest rates to spur buying of equities. All biotech sector indicators broke through in a broad rally with large caps picking up momentum:

• The large cap weighted ETF iShares Biotechnology Biotech Index (IBB) hit an all-time high of 377.88 up 3% for the day and 24.57% YTD. The market cap is now $9B.
• Other major ETFs followed to new highs (XBI) up 34.77% YTD and (FBT) to $124.74 up 22.27% YTD.
• The healthcare sector led the market up 1.42% for the day.
• Rayno Large Cap Portfolio picks were strong -AMGN,BIIB,REGN etc.
• Rayno Mid-Cap stocks pick up from post-ASCO doldrums-CLVS,SGEN,VRTX.
• Selected “immuno-oncology” and other speculative small cap stocks regained momentum-CLDX,IMGN,SUPN,ZIOP etc.

We will provide more updates on BIO 2015 and other news next week. Among the themes that gathered interest were: digital health,gene editing, gene therapy,immuno-oncology,orphan drugs and personalized medicine.