💊 Ionis Drops Despite Positive EU Recommendation, Gilead Faces Setback on Trodelvy, AbbVie Gains Canada Approval for EPKINLY | Biotech Sector Insights
The iShares Biotechnology ETF (IBB) has declined by 1.1% since Friday, coinciding with a broader market trend reflected in the Russell 2000 Index, which has dropped by nearly 1%.
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Below are AI-generated insights on moves in the health care/biotechnology sector, powered by MarketReader technology.
Monday, October 21
IBB [-1.1%]
iShares Biotechnology ETF (IBB)
The iShares Biotechnology ETF (IBB) has declined by 1.1% since Friday, coinciding with a broader market trend reflected in the Russell 2000 Index, which has dropped by nearly 1%. Recent social media discussions highlighted an investor meeting hosted by Goldman Sachs regarding Regeneron Pharmaceuticals (REGN) and its product Setrusumab, alongside a bullish report on IBB and the SPDR S&P Biotech ETF (XBI) released on October 16. Among the ETF's holdings, notable contributors to the performance decline include REGN, Amgen (AMGN), and Biogen (BIIB), all of which reported negative returns. Regeneron did present positive three-year data for its EYLEA HD Injection at a recent medical conference, suggesting improvements in patient outcomes.