9/2/16 Contest update
Mexicans may worry about Trump’s “Wall,” but the wall of worry created by critics of high drug prices is what’s been befuddling biotech stock investors. So it was another weak week for Contest portfolios.
At Friday’s close, the Contest median was down -25.53% YTD (vs. down -24.76% YTD a week ago), the Nasdaq Biotech Index (NBI) was down -17.10% YTD (vs. down -15.72% YTD a week ago), while the smaller-cap S&P Biotechnology Select Industry Index (SPSIBI) was down -14.42% YTD (vs. down -13.10% YTD a week ago). The Nasdaq Composite Index (NCI) was up 4.84% YTD (vs. up 4.22% YTD a week ago).
MASTER’s portfolio, up 14.65% YTD, had another good week and remained in first place, with JBOG’s portfolio, up 9.83% YTD, and DNAJOE’s portfolio, up 3.17% YTD, continuing in second and third place.
At Friday’s close, after ALIAS’ portfolio got a big boost from the CYNA buyout, there were now 4 of the 58 Contest portfolios in the green. And just 16 portfolios were beating the NBI and 11 beating the SPSIBI. The 223 Contest stock picks had an average YTD loss of -18.11% and a median YTD loss of -24.41%, with 54 of the 223 Contest portfolio stocks up for the year.
Below is the Top Ten list. Also below are the Top 5 & Bottom 5 Stocks for the week, ranked by % Gained and % Lost. (Prices not converted to US$ in these Tables.)
Portfolio adjustments:
1) BINDQ began trading ex-distribution on Wednesday, August 31. However, there’s still no clarity on when and what the Pfizer buyout distribution will be. So, for simplicity sake, I’ve assumed the two Contest portfolios holding BINDQ, DLU & PGO, sold their shares at the August 30 closing price of $.98. And I allocated the proceeds as if there had been a buyout at that price, using the 9/2/16 close for the remaining stocks in the DLU & PGO portfolios. I hope my treatment of the BINDQ buyout is Ok with folks.
2) The TTHI buyout by Opko Health at $1.55 per share closed on Tuesday, August 30. I allocated the proceeds using the 9/2/16 close for the remaining stocks in the two portfolios, BULBA & PGO, holding TTHI.
(All corrections, especially adjustments for splits, greatly appreciated.)
Enjoy a restful Labor Day weekend biotechies.
Peace & good health,
Bulba
9/2/16
Rank Name Profit/Loss
1 MASTER 14,653
2 JBOG 9,830
3 DNAJOE 3,171
4 ALIAS 762
5 DANIEL -5,579
6 THEOX -8,641
7 BIOPLAY -10,154
8 GENE -10,466
9 GREER -12,017
10 JFM -12,274
Week's Top 5 Gainers
Symbol 8/26/16 9/2/16 Wk.%chg.
CYNA 18.51 39.68 114.37%
KPTI 6.92 10.62 53.47%
MSTX 0.39 0.55 41.56%
RIGL 2.61 3.40 30.27%
ROKA 0.85 1.09 27.83%
Week's Worst 5 Losers
Symbol 8/26/16 9/2/16 Wk.%chg.
DVAX 16.27 10.91 -32.94%
ADMP 3.47 2.83 -18.44%
EARS 2.07 1.71 -17.39%
GNVC 0.610 0.511 -16.21%
CYTK 12.23 10.36 -15.29%
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