|
Diese Woche könnte CRA mal eine Pause einlegen. Seht selbst. Stocks in the genomics subsector showed particular weakness Tuesday afternoon. Shares of Celera Genomics (CRA: news, msgs) slipped $5.19, or 4.6 percent, to $107.19. Shares of Incyte Genomics (INCY: news, msgs) shed $1.69, or 3.9 percent, to $38.69. Shares of Affymetrix (AFFX: news, msgs) declined $3.88, or 4.9 percent, to $75.13. Today on CBS MarketWatch Tech sell-off weighs on Wall Street AOL may be forced to drop Hughes satellite stake Intel downgrade knocks down tech chip, PC issues WorldCom confirms $6 billion bid for Intermedia Genomics names drag on biotech sector More top stories... CBS MarketWatch Columns Updated: 9/5/2000 2:03:20 PM ET Winton Gibbons, a biotechnology analyst with William Blair & Co., said the stocks could be falling because investors are concerned that the market will soon be saturated with genomics shares. Gibbons said more than half a dozen genomics companies plan to make initial public offerings in the next few months. The analyst also said restrictions that prohibit insiders at many genomics companies from selling their shares would expire during the fall. "There is a lot of demand for genomics stocks, but there is also going to be a lot of supply," Gibbons said. Genomics is a loosely defined term that refers to the gathering and deciphering of genetic data. Genomics companies, particularly Celera, have been in the spotlight this year because of hopes that their genetic research would open the way for breakthroughs in the treatment of numerous diseases. As for the decline in the biotechnology sector overall Tuesday, Gibbons said that some investors appear to be selling to lock in recent gains. Shares of Millennium Pharmaceuticals (MLNM: news, msgs) fell $5.81 to $148.38 in recent action. Millennium`s stock surged last week after the Cambridge, Mass.-based company said it had discovered a potential new gene target for treating cardiovascular disease. -------------------------------------------------------------------------------- Ted Griffith is a reporter for CBS.MarketWatch.com |
|
| aus der Diskussion: | Was ist los mit Celera? |
| Autor (Datum des Eintrages): | freak2 (05.09.00 20:54:06) |
| Beitrag: | 3 von 7 (ID:1753505) |
| Alle Angaben ohne Gewähr © wallstreetONLINE | |