XBI · WMTMT

open10:1010:5511:3512:20

5-minute bars · index reconstructed live from member prices

Breadth

103 / 147

stocks fell with the index

Concentration

54%

of the decline from MRNA, SYRE, RLAY

Biggest driver

MRNA −0.33

MODERNA INC, −7.13%

Biggest offset

ERAS +0.17

ERASCA INC, +8.43%

Context

25th pctile

of the past year's sessions by daily move, so far

What drove it

147 members · detractors first · 1D · reconstructed from each member's latest trade price; official close pending

The XBI is down 0.79% (−1.33 pts) so far today on a mixed tape; MRNA, SYRE, RLAY did most of the damage, with 54% of the decline between them.

Read the latest market-close note: Nvidia and Goldman Sachs Lead a Narrow Advance as Energy and Staples Slide

+0.9 pts from 44 gainers−2.3 pts from 101 losers

net −1.3 pts · losers outweigh gainers 2.4 to 1

Stock

Points

Return

XBIsum of all 147 stocks

−1.3

−0.79%

MRNAMODERNA INC

−0.3

−7.13%

SYRESPYRE THERAPEUTICS INC

−0.3

−12.95%

RLAYRELAY THERAPEUTICS INC

−0.1

−5.15%

GRALGRAIL INC

−0.1

−4.20%

ACADACADIA PHARMACEUTICALS INC

−0.1

−3.58%

CRSPCRISPR THERAPEUTICS AG

−0.1

−3.32%

SLSSELLAS LIFE SCIENCES GROUP I

−0.1

−2.72%

ABSIABSCI CORP

−0.0

−6.89%

BEAMBEAM THERAPEUTICS INC

−0.0

−3.29%

IOVAIOVANCE BIOTHERAPEUTICS INC

−0.0

−2.55%

PURRHYPERLIQUID STRATEGIES

−0.0

−3.92%

RCUSARCUS BIOSCIENCES INC

−0.0

−2.95%

KYMRKYMERA THERAPEUTICS INC

−0.0

−1.40%

NTLAINTELLIA THERAPEUTICS INC

−0.0

−2.89%

CLDXCELLDEX THERAPEUTICS INC

−0.0

−2.52%

117 othersclick to expand the full index

−0.9

AVTXAVALO THERAPEUTICS INC

+0.0

+2.94%

PVLAPALVELLA THERAPEUTICS INC

+0.0

+2.23%

RVMDREVOLUTION MEDICINES INC

+0.0

+0.95%

INBXINHIBRX BIOSCIENCES INC

+0.0

+3.43%

CAPRCAPRICOR THERAPEUTICS INC

+0.0

+10.62%

PGENPRECIGEN INC

+0.0

+3.43%

CELCCELCUITY INC

+0.0

+1.97%

VERAVERA THERAPEUTICS INC

+0.0

+2.98%

MDGLMADRIGAL PHARMACEUTICALS INC

+0.0

+2.62%

TNGXTANGO THERAPEUTICS INC

+0.1

+4.76%

PRAXPRAXIS PRECISION MEDICINES I

+0.1

+2.39%

SRRKSCHOLAR ROCK HOLDING CORP

+0.1

+3.90%

BHVNBIOHAVEN LTD

+0.1

+11.83%

SMMTSUMMIT THERAPEUTICS INC

+0.1

+7.04%

ERASERASCA INC

+0.2

+8.43%

Cap weighting, illustrated

RELAY THERAPEUTICS INC and MAPLIGHT THERAPEUTICS INC moved almost identically (−5.15% vs −4.78%), yet RLAY moved the XBI 9.9× as much. In a cap-weighted index, the bigger company's weight turns the same percentage move into far more points.

Attribution map

slicing the −1.33 pt move · cell size = points contributed · color = direction, intensity = return

MRNA−0.3 pts(−7.1%)

SYRE−0.3 pts(−12.9%)

ERAS+0.2 pts(+8.4%)

SMMT+0.1 pts(+7.0%)

RLAY−0.1 pts(−5.2%)

BHVN+0.1 pts

SRRK+0.1 pts(+3.9%)

GRAL−0.1 pts

ACAD−0.1 pts

CRSP−0.1 pts

PRAX+0.1 pts

SLS

TNGX+0.1 pts

ABSI−0.0 pts

BEAM−0.0 pts

IOVA−0.0 pts

MDGL

VERA

PURR−0.0 pts

RCUS

NTLA

CLDX

TVTX

ABBV−0.0 pts

DNLI−0.0 pts

MLYS

RXRX

SRPT

DNTH−0.0 pts

CAPR+0.0 pts

CDNA

IDYA

HALO

CGON

IMNM

NVAX

RVMD

PVLA

TSHA

IMMX

QURE

KOD

IBRX

ZBIO

VKTX

NRIX

VCEL

TRAX

INCY

NTRA

VCYT

Concentration curve

cumulative share of the −1.33 pt move · sorted by contribution

When they drove it

cumulative points through the period

Breadth

member returns, this period

−15%−10%−5%0%+5%+10%

From −12.95% (SYRE) to +11.83% (BHVN). Equal-weight, the XBI would be −0.74% vs the actual −0.79%; the gap is what cap weighting did.

By sector

point contribution · sums to −1.33 pts

-147

−1.3

The year, session by session

every trading day of 2026 · hover for the move

JANFEBMARAPRMAYJUNJULAUG

Share this move

pick a view, download it as a 16:9 PNG

What moved the market, in your inbox

The daily note publishes here after every close; the week's story lands in your inbox on Fridays, free. Read the daily notes.

Babylon Burns

WMTMT is built by the founders of Babylon Burns, a letter on markets, macro, and the systems behind them. The numbers live here; the arguments live there. Subscribing below joins the Babylon Burns letter.

SPDR S&P Biotech ETF

What drove it

Attribution map

Concentration curve

When they drove it

Breadth

By sector

The year, session by session

Share this move