Moderna rose by seven or eight percentage points, one of the top gainers in U.S. biotech stocks today, as expectations for its vaccine pipeline were revived by capital; Revolution Medicines and BlueJay Diagnostics both rose by three or four percentage points, with small catalysts for oncology drugs and diagnostics respectively. 😸
Summit rose slightly, while Legend Biotech fell slightly. Amid market volatility, biotech has instead become a safe haven. This batch lacks a unified sector logic and is more like capital rotating among stocks with stories and data expectations during a broad decline.
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