💊 Intellia Plunges After HAE Therapy Results, While Zai Lab Rises on Lung Cancer Data and Viking Therapeutics Soars on Obesity Drug Optimism | Biotech Sector Insights
(IBB) has seen a decline of 0.2% since Wednesday. Key contributors to this performance included IQV, which dropped significantly. Moderna Inc. experienced a modest decline and received a price target reduction from UBS, while Piper Sandler maintained an Overweight rating.
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Below are AI-generated insights on moves in the health care/biotechnology sector, powered by MarketReader technology.
Thursday, October 24
IBB [-0.2%]
iShares Biotechnology ETF (IBB)
The iShares Biotechnology ETF (IBB) has seen a decline of 0.2% since Wednesday. Key contributors to this performance included IQV, which dropped significantly, contributing negatively to the ETF's overall return. Moderna Inc. experienced a modest decline and received a price target reduction from UBS, while Piper Sandler maintained an Overweight rating. Regeneron Pharmaceuticals also faced a lowered price target from Evercore ISI Group and JP Morgan, despite presenting positive Phase 3 study data for Dupixent at a scientific meeting. Intellia Therapeutics saw a sharp decline following positive Phase 2 results for NTLA-2002, with Baird expressing skepticism and lowering its price target due to competitive concerns and perceived risks.