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Life Science Sector Update August 2024
Nothing seems to be happening lately in the market as we wait for Nvidia earnings. It’s the slowest week of the year, we are at the market top and most earnings reports are good. And Fed Chairman Powell recently indicated a rate cut is coming in September. Smooth sailing ahead so it seems although the next two months are seasonally weak and choppy. Maybe the recent 10% correction brought us calm because we have come all the way back. But there is still a feeling of unrest maybe because of the election year jitters.Meanwhile, the defensively oriented healthcare sector is catching up with the general market as the XLV is up 3.77% for the month and 14.10% YTD, compared to the S&P 500 up 3.14% for the month and 18.15% YTD. Over the past month sector performance has been broadening out with the financials, industrials, and materials outperforming technology (XLK) down 3.31% QTD. The QQQ is up 2.47% for one month and 15.94% YTD.Life science stocks are having a good year particularly our Large Cap Biopharma picks as you can see from previous artlcles. All of our top picks have beat the QQQ by a huge %: ABBV,  LLY, REGN, and VRTX (stay tuned for large cap biopharma review by next Monday). Recently we added Astra Zeneca (AZN) at a price of about $85 now at $87.42 up 29.8% YTD. GILD also looks good at $79 down 2.47% YTD. The major biotech ETFs are lagging like the IBB is down 0.26% MTD and 8.85% YTD now near 2024 highs at $147.87. The small cap weighted more speculative XBI is down 0.46% MTD, and 1up 3.18% YTD just off the 2024 high of $102.89. The MOmentum of the more speculative SMID caps has been good lately so we added the ARKG Genomic  Revolution ETF last week at about $26 and it is down 1.73% MTD and down 18.44% YTD. The  ARKG high for 2024 was $32.96.Update 8/28 at the close: Top Biopharma Large Caps

  2022 11/11/23 8/4 %YTD 5 Yr % P % YTD               8/28/24                       ABBV 161.64 138.59 185.28 22.16 189.68 195.4 26.09   AMGN     333.99 15.96 78.39 329.49 14.4   AZN 68 63.17 81.81 21.47 79.57 87.36 29.71   BMY 71.05 50.61 48.77 -4.95 6.04 49.06 -4.39   GILD 85.39 75.92 76.77 -5.23 -18.2 78.56 -3.02   LLY 447.71 597.71 804.46 38 615.58 948.94 62.79   MRK 110.95 101.39 115.2 5.67 42.93 117.4 7.89   PFE 51.24 29.48 30.43 5.7 -15.6 28.75 0.14   REGN 725 798.94 1082.19 23.22 254.44 1199 36.55   VRTX 288.78 373.65 494.46 21.52 177.18 489.73 20.36                                                      

Last week we updated significant trades in our Life Science Picks and recently we happily noted CorMedix (CRMD) made a big move up 29.1% over 5 days and 64.10% YTD with no particular news driving the stock but a strong Business Update from the Company. CorMedix is a biopharmaceutical company focused on developing and commercializing therapeutic products for life-threatening diseases and conditions. In this quarter the Company launched its DefenCath product in the outpatient setting with initial sales of $5.2M QTD as of  August 13.In our last market update we tracked a number of trades from our Life Science Focus list and despite the volatility the performance has been good. This speculative list of trades has been screened for balance sheet, analyst coverage and unique technology. We are developing an algorithm to track momentum and financial performance over a quarterly period. But how can one follow so many stocks? Like Tempus AI (TEM) which has soared from $41 to $71.44 in one month and is now at the $65 level?NOTE: This is not a “buy and hold” list but a guide for active traders. DATA as of 8/17/24.Rayno Life Science Trades-Small and MidCap (SMID)

    P 1/20/23 Initial 2/4/23   12/24/23       4/8/24   8/17/24           Company Ticker $   P       YTD %     YTD   %YTD %MTD Rate cash MktCAP             P       P % P     Trade $M $-ooo-                                     Acumen Therap ABOS     5.29   3.57   -33.89   3.17 -17.45 2.57 -33.07 -18.4 H 281 154 Adaptive BiioTech ADPT     4.11   5       2.6 -46.94 4.83 -1.43 8.54 H,$ 291 712.3 Avidity Sciences RNA new 7/1/24             25   44.98 397 -3.64 – 185+ 5,270 Catalyst Pharma CPRX     16.1   16.58   -10.86   14.89 11.42 19.87 18.2 16.9 H 137+ 2,360 Caribou Biosci CRBU     6.29   6.17   -0.175   3.71 -35.25 2.09 -63.53 -23.44 H,$ 311.8 188.86 CorMedix CRMD         3.9       5.31 41.22 4.81 27.83 -3.8 H,$ 45.6 268.7 Crenetics CRNX                 42.12 18.38 51.62 45 -6.11 – 500 4,130 CRSPR Therap CRSP 49.61 -25 55.27   63.67   56.63   53.91 -13.88 47.85 -23.56 -23.75 H 2,000 4,080 Cryoport CYRX 21.75 -42.34 25.24   16.09   -7.26   16.38 5.75 9.01 -41.83 3.92 H,L 700? 445 Cytokinetics CYTK         31       65.34 -21.74 56.5 -22.33 -0.46 – 1,400 6.,650 Denali DNLI     22           19.21 -9 23.02 7.27 -3.84 – 1350 3,300 Exelixis EXEL     22.25           23.75 -1.21 26.35 9.84 15.77 H 262? 7,520 Evolent Health EVH 30.83 13.74 31.96   32.08   14.25   27.65 -16.29 27.38 -17.11 26.06 S,L *37 wc 3,180 Geron GERN 3.19 9.24 3.22   2.29   -5.37   3.79 79.62 4.5 113.3 -9.82 S,H,$ *269 2,710 Humacyte HUMA new 8/1/24 8.25               6.48 128.17 -26.28 – *80 773 Intelllia NTLA                 25.5   22.63 (25.78 -17.26 H 130 2,380 Immatics IMTX     9.3   9.9   13.66   10 -4.94 11.51 9.31 -8.29 H 569 1,180 Natera NTRA         60       91.66 46.33 123.98 100.23 22.57 S,$ 796.8 15,330 Pacific Biosci PACB 11.29 55.68 11.58   8.59   5   1.47 -85 1.56 (83.790 -10.34 H,L 99 425,000 Novavax NVAX                 3.67 – 12.96 170 921.17) S,H,$ 487.2 2,017,000                                     Recursion Pharm RXRX         10.75       8.12 -17.65 6.74 -31.64 -22.63 S,$ 483 1,900 Rezolute RZLT new 7/8/24 4.25               4.24 327 -11.13 S $ 80 234 Roivant ROIV         11.4       11.03 -1.78 11.19 -0.36 -3.62 – 5,695 8,280 Supernus SUPN 40.3 12.3 41.61   29.23   -18.05   30.07 3.9 34.55 19.38 19.38 H 350 1,900 Tempest AI TEM new 7/10/24                 50.88 26.41 24.89 H S$ 479 7,850 Twist Biosci TWST     18   3.76   34.03   31.54 -14.53 43.56 18.18 -25.74 S,H,$ 289 2,555 10x Genomics TXG     47.84   56.58   55.27   27.59 -50.79 21.75 -61.13 8.75 S,$ 379.8 2,620                                     Vericel VCEL     31   34.75   31.93   46.05 29.32 46.28 29.96 -11.37 H 102.5 2,270 Veracyte VCYT 24.89 39.43 26.67   28.27   19.13   19.31 -29.81 32.85 19.41 28.52 H,S$ 216 2,520                                     SPDR Biotech XBI 86.99 14.75 90.39   87.62   5.57   83.49 -6.51 97.77 9.5 -4.01 H,S,$ –   iShares BIO IBB         133.77   -1.89   132.51 -2.48 144.85 6.62 -2.08 –     HealthcareSPDR XLV         135.02   –   143.22 5.02 152.87 12.09 2.01 –                                         wildcard                                   ArkGenomics ARKG     35.28   32.81   16.22   23.18 -29.35 26 -20.76 -5.14 h                                         T.RowePrice PRHSX         86.84   -3.32   92.49 5.22 99.68 13.4 – H,$                                

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