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Biotechnology and genomics-based exchange traded funds pushed higher on Wednesday thanks to strength in some select healthcare tech stocks. The advances included names like the Genomics & Biotechnology ETF (NASDAQ:GNOM) and ARK Genomic Revolution ETF (BATS:ARKG)
GNOM +5.7% and ARKG +5% can both attribute some of their daily gains to a handful of overlapping stocks that are in the green. Three names in particular have bolstered the sector: Beam Therapeutics Inc. (BEAM), CRISPR Therapeutics AG (CRSP), and Intellia Therapeutics, Inc. (NTLA). These stocks are up 6.3%, 6.1%, and 12.4% respectively.
NTLA is rising in sympathy with Alnylam Pharmaceuticals (ALNY), which has jumped 43% after its ATTR amyloidosis therapy met the main goal in a late-stage trial. NTLA has an ATTR candidate as well.
Together, BEAM, CRSP and NTLA represent 15.31% of GNOM. Individually, BEAM has a weighting of 5.35%, CRSP has 5.29% and NTLA has 4.67%.
Regarding ARKG, the three stocks cumulatively represent 12.97% of the ETF with the majority being held by CRSP at 4.71%. BEAM and NTLA represent 4.25% and 4.01% of ARKG, respectively.
Both ETFs offer exposure to the genomics world but GNOM does extend itself towards other biotech related stocks. GNOM has 40 holdings while ARKG has 48 holdings. Moreover, there are ten names that overlap between the two funds.
Also, GNOM has a 0.50% expense ratio and is -24.6% YTD whereas ARKG has a 0.75% expense ratio and is -38.4% YTD.
While GNOM and ARKG are trending higher, they are not the only biotech and genomic ETFs to do so. See a list of other trending names below:
SPDR S&P Biotech ETF (NYSEARCA:XBI) +4.4%, iShares Biotechnology ETF (NASDAQ:IBB) +4.4%, First Trust NYSE Arca Biotechnology Index Fund (FBT) +4.2%, VanEck Biotech ETF (BBH) +4.4%, Invesco Dynamic Biotechnology & Genome ETF (PBE) +2.6%, and the Virtus LifeSci Biotech Clinical Trials ETF (BBC) +6.3%.
Year-to date price action: XBI -26.8%, IBB -16%, FBT -11%, BBH -14.3%, PBE -12.4%, and BBC -36.5%.
To gain more information about the latest biotech and genomic news, head over to Seeking Alpha's healthcare news page.