Biotech stocks are having one of their best stretches in years. The iShares Biotechnology ETF (NASDAQ:IBB) jumped nearly 5% Wednesday and pushed to new all-time highs, according to data from Benzinga Pro.
Moderna‘s (NASDAQ:MRNA) more-than-100% surge gave the group an extra jolt, but the rally runs far wider than one headline-grabbing stock.
MRNA stock soared on its cancer vaccine data. See the chart here.
Bespoke Investment Group’s data shows the 20 largest names in the IBB are up an average of more than 43% in 2026, with only two sitting in the red. The two laggards tell a story worth pulling apart.
Alnylam’s Guidance Cut Turns Ugly
