Rod Raynovich's  Instablog

Rod Raynovich
Send Message
Rod Raynovich is an entrepreneur and executive with a focus on life science companies and medical technology trends.He has over 30 years executive experience including Abbott and JNJ and has been involved three successful start-ups. He has a B.S, from Penn State University and an MBA from... More
My company:
Raygent Capital
My blog:
raygent.com
  • Risk Off: Take Profits In Biotech Stocks 0 comments
    Jul 8, 2014 9:23 AM | about stocks: XBI, FBT

    Bad Tape Yesterday (7/7) Calls For Raising Cash

    NASDAQ at 4451 up 6.58% YTD

    • Major ETFs and Fidelity (MUTF:FBIOX) take a ~3% hit
    • All major market sectors weak with healthcare down 1%
    • Unusual weakness in many Rayno Life Science stocks
    • Small caps weak with IWM down 1.69%, up 2% YTD
    • Many former high fliers continued weak: CLDX, ICPT,INCY, NLNK, SGMO, SRPT

    The market failed in a run to new highs as it approached within 10% of February peaks. Some of our focus stocks bucked the trend like Pharmacyclics (NASDAQ:PCYC) up 2.79 % bouncing off the 2014 support level near $90. The Company was granted priority review for the Imbruvica sNDA last month. Qiagen (NASDAQ:QGEN) and Regeneron (NASDAQ:REGN) were also stable. Large cap biopharmaceutical stocks were down as much as 2%. Summer trading is likely to be choppy so going into the fourth quarter with 10-20% cash is a good idea. Moreover Q2 financial results will give us visibility for large cap stocks.

    Some candidates for profit taking within the Rayno Life Science Portfolios with YTD performance: Exact Sciences (NASDAQ:EXAS) up 42%, Illumina ILMN up 61%, Regeneron (REGN) up 13.2%, Sequenom (NASDAQ:SQNM) up 64% and Vertex (NASDAQ:VRTX) up 30.3%.

    Disclosure: The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Additional disclosure: Long Fidelity Select Biotech Fund (FBIOX)

    Stocks: XBI, FBT
Back To Rod Raynovich's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.