XBI · WMTMT

Jun 30Jul 15Jul 29Aug 11Aug 25

Breadth

87 / 147

stocks rose with the index

Concentration

45%

of the gain from MRNA, TWST, IOVA

Biggest driver

MRNA +2.92

MODERNA INC, +126.80%

Biggest drag

CAPR −0.95

CAPRICOR THERAPEUTICS INC, −65.57%

What drove it

147 members · drivers first · QTD · residual 11.6bp within 60bp gate

The XBI rose 6.87% (+10.87 pts) so far this quarter on a mixed tape; MRNA, TWST, IOVA did most of the lifting, with 45% of the gain between them.

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

+19.4 pts from 87 gainers−8.6 pts from 60 losers

net +10.9 pts · gainers outweigh losers 2.3 to 1

Stock

Points

Return

XBIsum of all 147 stocks

+10.9

+6.87%

MRNAMODERNA INC

+2.9

+126.80%

TWSTTWIST BIOSCIENCE CORP

+1.1

+47.18%

IOVAIOVANCE BIOTHERAPEUTICS INC

+0.9

+102.88%

HALOHALOZYME THERAPEUTICS INC

+0.7

+39.67%

REGNREGENERON PHARMACEUTICALS

+0.6

+33.68%

PURRHYPERLIQUID STRATEGIES

+0.5

+50.83%

TRAXFIRST TRACKS BIOTHERAPEUTICS

+0.5

+124.20%

NTRANATERA INC

+0.5

+24.04%

IMNMIMMUNOME INC

+0.4

+38.67%

XNCRXENCOR INC

+0.4

+81.99%

CDNACAREDX INC

+0.4

+78.25%

PTGXPROTAGONIST THERAPEUTICS INC

+0.3

+22.85%

ACADACADIA PHARMACEUTICALS INC

+0.3

+20.83%

VRDNVIRIDIAN THERAPEUTICS INC

+0.3

+31.63%

SYRESPYRE THERAPEUTICS INC

+0.3

+20.93%

117 othersclick to expand the full index

+6.2

ALNYALNYLAM PHARMACEUTICALS INC

−0.2

−20.25%

CELCCELCUITY INC

−0.2

−11.80%

NTLAINTELLIA THERAPEUTICS INC

−0.2

−20.15%

TNGXTANGO THERAPEUTICS INC

−0.3

−20.76%

IBRXIMMUNITYBIO INC

−0.3

−6.45%

VCYTVERACYTE INC

−0.3

−25.01%

IONSIONIS PHARMACEUTICALS INC

−0.3

−19.83%

SIONSIONNA THERAPEUTICS INC

−0.3

−85.79%

RAREULTRAGENYX PHARMACEUTICAL IN

−0.3

−20.75%

GLUEMONTE ROSA THERAPEUTICS INC

−0.4

−39.83%

MIRMMIRUM PHARMACEUTICALS INC

−0.4

−16.22%

VERAVERA THERAPEUTICS INC

−0.4

−17.78%

SLSSELLAS LIFE SCIENCES GROUP I

−0.4

−4.54%

MPLTMAPLIGHT THERAPEUTICS INC

−0.4

−65.01%

CAPRCAPRICOR THERAPEUTICS INC

−0.9

−65.57%

Cap weighting, illustrated

SELLAS LIFE SCIENCES GROUP I and ARCUTIS BIOTHERAPEUTICS INC moved almost identically (−4.54% vs −5.19%), yet SLS moved the XBI 33.8× 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 +10.87 pt move · cell size = points contributed · color = direction, intensity = return

MRNA+2.9 pts(+126.8%)

TWST+1.1 pts

CAPR−0.9 pts(−65.6%)

IOVA+0.9 pts

HALO+0.7 pts

REGN+0.6 pts(+33.7%)

PURR+0.5 pts(+50.8%)

TRAX+0.5 pts

NTRA+0.5 pts

MPLT−0.4 pts

SLS−0.4 pts

VERA−0.4 pts

IMNM+0.4 pts

MIRM−0.4 pts

XNCR

CDNA

GLUE−0.4 pts

PTGX+0.3 pts

ACAD+0.3 pts

VRDN

SYRE

DYN

SION

AMGN+0.3 pts

CRSP+0.3 pts

IDYA+0.3 pts

TVTX+0.3 pts

CGON

IBRX

ARWR

GILD

GRAL

BMRN

NTLA−0.2 pts

ADMA+0.2 pts

RLAY+0.2 pts

ALNY−0.2 pts

CYTK

KYMR

DNTH

RVMD

CGEM

ZBIO

SRRK

PGEN

BBIO

INBX

VSTM

ABSI

IMMX

ARDX

QURE

ANAB

CADL

RIGL

MYGN

UTHR

SNDX

PTCT

REPL

MLYS

JANX

ALKS

MNKD

Concentration curve

cumulative share of the +10.87 pt move · sorted by contribution

When they drove it

cumulative points through the period

Breadth

member returns, this period

−100%−50%0%+50%+100%

From −85.79% (SION) to +126.80% (MRNA). Equal-weight, the XBI would be +8.41% vs the actual +6.87%; the gap is what cap weighting did.

By sector

point contribution · sums to +10.87 pts

-147

+10.8

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