💊 Iovance, Intellia Drop; Natera and Krystal Gain Following Positive Earnings and Approvals | Biotech Sector Insights
Within IBB's holdings, Iovance Biotherapeutics faced a substantial decline due to negative analyst revisions despite reporting a narrower Q4 net loss. Intellia Therapeutics also saw significant downgrades from analysts, while Apellis Pharmaceuticals reported strong Q4 results.
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Below are AI-generated insights on moves in the health care/biotechnology sector, powered by MarketReader technology.
Friday, February 28
IBB [-0.1%]
iShares Biotechnology ETF
The iShares Biotechnology ETF (IBB) has experienced a daily return of -0.01%, reflecting broader market declines following President Trump's announcement of new tariffs on imports from Canada, Mexico, and China set to take effect on March 4th. This escalation in trade tensions has contributed to significant sell-offs across major U.S. stock indices, including the Nasdaq and S&P 500. The PCE data release today showed a year-over-year increase in inflation expectations of 2.5%. Within IBB's holdings, Iovance Biotherapeutics faced a substantial decline due to negative analyst revisions despite reporting a narrower Q4 net loss. Intellia Therapeutics also saw significant downgrades from analysts, while Apellis Pharmaceuticals reported strong Q4 results but still faced a drop in performance. Additionally, the Russell 2000 Index declined, indicating broader market sentiment that may influence IBB.