Biotech Scan
Biotech Scan
Biotech is running hotter than anything else on the desk's board this week: the oversold band stayed empty for a second straight scan while the overbought club more than doubled, from four names to nine, and $ILMN confirmed a real breakout — up 121% over the past year and 49% above its 200-day average. $MRNA's move is the outlier headline (up 129% in a single week), but the more durable story is the whole cohort re-rating together: $XBI, $IBB, and $IBBQ all sit within 2.5% of their 52-week highs. The one name genuinely breaking down is $ISRG, now below its 200-day line with a negative year — everything else flagged as "weak" this scan is a pullback inside a still-positive multi-year trend, not a broken one.
Data as-of the 2026-08-21 close (Friday's settled session) — every name in this cut carries a fresh bar this scan.
Source: biotech-scan.json. Prior scan: 2026-08-14-biotech-scan.
Quick Snapshot
| Signal | Reading |
|---|---|
| Overall | 🟢 The cohort's strongest read in weeks — oversold band empty, overbought club expanded 4→9, only one name shows a genuine long-trend breakdown |
| Leaders | $A (RSI 80.5, cut's highest print); $BNTX (79.2, +25 points this scan, parabolic); $ILMN (69.6, confirmed breakout, +121% over the year) |
| Laggards | $ISRG (47.6, below its 200-day, negative year — the one real breakdown); $COGT (42.9, lowest print but still up 212% over the year); $RARE (44.2) |
| Key insight | Nothing in this cut is oversold and nothing is below RSI 40 — the floor is COGT at 42.9 — while nine names now sit above RSI 70, versus four two scans ago |
What's Going On
The biotech complex just had its strongest week of the summer. The oversold band — which held one name (DNA) as recently as the prior scan — is empty again and the floor of the whole cut moved up: the lowest RSI print now is COGT at 42.9, versus a 34.5 low two scans back. On the other end, the overbought club (RSI above 70) grew from four names to nine: $A (80.5), $BNTX (79.2), $REGN (76.4), $TMO (74.6), $AMGN (73.4), $IQV (72.6), $MRNA (71.6), $IBB (70.7), and $DXCM (70.1). That is not a handful of names running hot — it's close to a quarter of the tracked universe.
$ILMN is the cleanest breakout in the cut: RSI 69.6, price up 51.9% over three months and 14.9% over the past week alone, sitting just 0.5% off its 52-week high and 49.3% above its 200-day average, with the year-over-year return at +121%. That combination — near the high, well above the long-term average, strong 1-year return — is what a confirmed breakout looks like, not a bounce.
$MRNA and $BNTX both posted genuinely extreme moves. $MRNA is up 453.5% over the past year and gained 129% in the last week alone on 4.4x average volume — a name this volatile needs to be read as a distinct, high-variance situation, not folded into the cohort's steadier re-rate. $BNTX gained 25 RSI points this scan (54 to 79) on a 25.3% weekly move, tagged "parabolic" in the underlying data — extended, not a place to add.
$ISRG is the one name in the cut showing a genuine long-trend breakdown rather than a short-term wobble: price is 19.9% below its 200-day average and down 19.4% over the past year, with RSI at a subdued 47.6. That is a structurally different situation from names like $BEAM (RSI 58, down 22% from its 52-week high but still up 86% over the year and above its 200-day) or $NVO (weak this week but roughly flat versus its 200-day) — both of those read as pullbacks inside intact trends, not breakdowns. $ISRG's 200-day average sits near $473 — that is the level to watch for any real repair.
What Changed Since Prior Scan (2026-08-14)
- The overbought club more than doubled. Four names above RSI 70 two scans ago (REGN, AMGN, MDT, PTGX) became nine this scan (A, BNTX, REGN, TMO, AMGN, IQV, MRNA, IBB, DXCM) — MDT and PTGX both cooled back below 70 even as five new names crossed in.
- $ILMN confirmed its breakout. RSI jumped from 50.2 to 69.6 (+19.4 points) as price ran from $190.89 to $219.40 (+14.9% for the week alone), still just 0.5% off its 52-week high.
- $BNTX went parabolic. RSI 53.8 → 79.2 (+25.4), price $93.09 → $116.57 (+25.2%) — the cut's largest single-scan RSI gain.
- $MRNA posted the cut's most extreme move. Price ran from $63.32 to $145.13 (+129.2% for the week), RSI 56.6 → 71.6, on 4.4x average volume.
- $ISRG relapsed again. RSI 56.0 → 47.6 (-8.4), price down 4.0% for the week — the same pattern flagged in the prior scan, now confirmed with price below the 200-day average.
- DNA climbed out of the oversold band and stayed out. RSI 34.5 → 46.1 (+11.6), price $6.79 → $7.40 (+9.0%) — the band has now been empty for two straight scans.
- A extended into deep-overbought territory. RSI 69.7 → 80.5 (+10.8), the cut's new highest print.
- $PTGX and $MDT both cooled out of overbought. PTGX: 71.2 → 62.9. MDT: 71.4 → 68.4.
- The universe grew by one name. $IMVT (RSI 69.9, near its 52-week high, up 199% over the year) is new to this cut versus the prior scan's 39-ticker list — no other entrants or dropouts.
- No stale bars this scan — every name carries a fresh 2026-08-21 close.
How To Read The Board
RSI measures how stretched a stock is over the past 14 sessions — under 30 signals oversold, over 70 signals overbought/extended. vs SMA20 is the price gap to the 20-day average; a large negative number means a fast recent decline. 1Y% and vs SMA200 are the two numbers that matter most for judging whether a rough week is a breakdown or a pullback: a name trading above its 200-day average with a solidly positive year-over-year return is in a deep pullback inside an intact multi-year trend, even if this week's RSI looks weak — $BEAM and $NVO both fit that pattern this scan. A name trading below its 200-day average with a flat-to-negative year, like $ISRG, is the one genuinely under structural test. Don't read a weak weekly RSI print as a broken thesis without checking those two numbers first.
Price Table
| Stock | Price | RSI | SMA20 | vs SMA20 | 7D% | 30D% | 3M% | 1Y% | vs SMA200 | Signal |
|---|---|---|---|---|---|---|---|---|---|---|
| COGT | $36.73 | 42.9 | $39.39 | -6.7% | -3.2% | -7.1% | +12.4% | +212.1% | +0.7% | 🟡 Pullback, long trend intact |
| RARE | $25.83 | 44.2 | $25.94 | -0.4% | -2.4% | -6.6% | +10.4% | -12.5% | -2.2% | 🟡 Weak, watch $26.42 200-day |
| DNA | $7.40 | 46.1 | $7.75 | -4.5% | +9.0% | -5.5% | -12.0% | -37.1% | -12.2% | 🟡 Speculative, below 200-day |
| ALNY | $236.22 | 46.7 | $232.35 | +1.7% | +3.3% | -11.5% | -20.6% | -49.5% | -28.6% | 🔴 Breakdown watch |
| ISRGE | $378.81 | 47.6 | $378.68 | 0.0% | -4.0% | +11.2% | -13.5% | -19.4% | -19.9% | 🔴 Breakdown — below 200-day |
| NVO | $46.74 | 48.5 | $47.19 | -1.0% | +1.8% | -3.0% | +4.0% | -15.7% | +0.7% | 🟡 Weak, lagging alpha |
| LEGN | $21.82 | 49.5 | $20.20 | +8.0% | +7.2% | -7.3% | -25.7% | -38.6% | -7.8% | 🔴 Breakdown watch |
| IONS | $59.74 | 52.6 | $56.23 | +6.2% | +4.5% | +10.6% | -20.9% | +38.2% | -19.3% | 🟡 Below 200-day, watch $73.99 |
| NKTR | $74.02 | 54.4 | $73.38 | +0.9% | +1.4% | +6.8% | +11.1% | +164.4% | +15.5% | 🟡 Pullback |
| NTLA | $12.84 | 55.1 | $11.62 | +10.5% | +7.9% | +15.4% | +1.9% | +26.8% | +3.4% | 🟡 Deep pullback, intact |
| EDIT | $3.11 | 56.9 | $2.82 | +10.3% | +9.5% | +11.9% | +12.7% | +13.9% | +20.2% | 🟡 Pullback |
| BEAM | $29.76 | 58.0 | $27.02 | +10.1% | +11.3% | +11.7% | +3.9% | +85.9% | +5.7% | 🟡 Deep pullback, intact |
| RXRX | $3.50 | 58.5 | $3.20 | +9.3% | +10.4% | +17.5% | +16.3% | -26.8% | -5.5% | 🟡 Speculative, below 200-day |
| BMRN | $66.70 | 58.6 | $64.61 | +3.2% | -1.0% | +14.2% | +23.3% | +14.9% | +16.5% | 🟡 Uptrend |
| BIIB | $216.78 | 58.8 | $208.59 | +3.9% | +3.3% | +9.6% | +11.9% | +55.8% | +15.3% | 🟡 Uptrend |
| LLY | $1,255.40 | 59.4 | $1,198.10 | +4.8% | +6.3% | +7.9% | +17.9% | +76.9% | +19.2% | 🟡 Uptrend |
| SRPT | $18.79 | 59.4 | $17.16 | +9.5% | +3.8% | +18.8% | +11.9% | -6.3% | -1.2% | 🟡 Below 200-day, watch $19.02 |
| KYMR | $119.80 | 60.3 | $111.57 | +7.4% | +2.1% | +8.6% | +51.9% | +181.3% | +39.0% | 🟡 Uptrend |
| LABU | $317.20 | 61.8 | $270.41 | +17.3% | +14.7% | +25.0% | +81.1% | +354.7% | +66.6% | 🟡 3x-leveraged, not a hold |
| PTGX | $154.32 | 62.9 | $145.54 | +6.0% | -0.5% | +13.9% | +55.6% | +175.4% | +50.2% | 🟡 Uptrend, cooled |
| XBI | $165.73 | 63.4 | $155.94 | +6.3% | +5.3% | +9.0% | +25.9% | +85.0% | +24.9% | 🟡 Cohort ETF, near high |
| ABBV | $264.96 | 64.1 | $253.29 | +4.6% | +6.2% | +4.6% | +22.8% | +26.5% | +16.9% | 🟡 Uptrend |
| INCY | $127.81 | 65.4 | $122.54 | +4.3% | +6.3% | +10.4% | +31.6% | +47.7% | +23.3% | 🟡 Uptrend |
| CRSP | $59.50 | 66.6 | $52.62 | +13.1% | +11.1% | +26.0% | +18.2% | +12.7% | +12.1% | 🟡 Pullback, intact |
| GILD | $146.12 | 67.0 | $136.10 | +7.4% | +5.6% | +12.1% | +8.8% | +25.8% | +9.8% | 🟡 Uptrend |
| VRTX | $548.05 | 67.0 | $505.57 | +8.4% | +8.4% | +16.0% | +26.1% | +37.9% | +19.1% | 🟡 Breakout |
| DHR | $218.85 | 68.3 | $202.86 | +7.9% | +8.1% | +22.2% | +27.2% | +7.3% | +7.8% | 🟡 Breakout |
| MDT | $93.35 | 68.4 | $88.84 | +5.1% | +2.3% | +14.0% | +18.8% | +2.5% | +4.0% | 🟡 Pullback, intact |
| ILMN | $219.40 | 69.6 | $197.52 | +11.1% | +14.9% | +15.0% | +51.9% | +121.0% | +49.3% | 🟢 Confirmed breakout |
| IBBQ | $36.29 | 69.8 | $33.74 | +7.6% | +7.2% | +12.7% | +23.7% | +54.1% | +21.5% | 🟡 Cohort ETF, near high |
| IMVT | $44.37 | 69.9 | $41.06 | +8.0% | +6.1% | +13.6% | +29.9% | +199.0% | +49.6% | 🟢 Strong, near high |
| DXCM | $92.34 | 70.1 | $85.30 | +8.3% | +2.9% | +29.3% | +28.1% | +14.5% | +33.2% | 🟠 Extended |
| IBB | $213.56 | 70.7 | $197.34 | +8.2% | +7.8% | +14.2% | +26.5% | +54.3% | +22.1% | 🟠 Cohort ETF, extended |
| MRNA | $145.13 | 71.6 | $72.57 | +100.0% | +129.0% | +149.9% | +209.6% | +453.5% | +197.8% | 🟠 Extreme move, high-variance |
| IQV | $259.82 | 72.6 | $239.87 | +8.3% | +9.8% | +30.9% | +54.8% | +40.2% | +30.2% | 🟠 Extended |
| AMGN | $439.33 | 73.4 | $408.16 | +7.6% | +5.8% | +20.0% | +29.5% | +48.5% | +24.5% | 🟠 Extended |
| TMO | $629.27 | 74.6 | $589.54 | +6.7% | +7.0% | +19.5% | +40.4% | +30.1% | +17.9% | 🟠 Extended |
| REGN | $834.04 | 76.4 | $776.69 | +7.4% | +3.8% | +28.1% | +30.6% | +39.4% | +15.1% | 🟠 Extended |
| BNTX | $116.57 | 79.2 | $95.45 | +22.1% | +25.3% | +26.9% | +26.5% | +5.2% | +19.5% | 🟠 Parabolic, don't chase |
| A | $159.00 | 80.5 | $145.76 | +9.1% | +7.0% | +19.1% | +38.3% | +35.7% | +21.1% | 🔴 Overbought |
Tier Analysis
Extreme Oversold (RSI < 25)
None.
Oversold (RSI 25-40)
None — the oversold band has now been empty for two straight scans.
RSI 40+ (the entire cut)
- Genuine breakdown (below 200-day, negative or lagging 1-year return): $ALNY, $ISRG, $LEGN — the only three names in the cut that fail the long-trend test. $ISRG's 200-day sits near $473, $ALNY's near $331, $LEGN's near $23.65.
- Deep pullback but long trend intact (above or near 200-day, positive year): $BEAM, $NTLA, $NVO, $COGT, $RARE, $IONS, $SRPT, $RXRX, $DNA — mixed short-term RSI reads, but most sit at or above their 200-day with a positive year-over-year return; $DNA and $RXRX are the two speculative exceptions below their 200-day.
- Confirmed uptrend/breakout: $ABBV, $GILD, $AMGN, $REGN, $BIIB, $LLY, $VRTX, $BMRN, $INCY, $ILMN, $DHR, $TMO, $PTGX, $IQV, $XBI, $IBB, $IBBQ, $KYMR, $CRSP, $MDT — the bulk of the cut, 20 names.
- Extended above RSI 70: $DXCM, $IBB, $MRNA, $IQV, $AMGN, $TMO, $REGN, $BNTX, $A — nine names, up from four two scans ago.
Entry Zones
| Stock | Price | Zone | RSI | 30D% | Setup |
|---|---|---|---|---|---|
| BEAM | $29.76 | <$28.35 (support shelf) | 58.0 | +11.7% | Down 22% from 52-week high but up 86% over the year and above its 200-day — pullback inside an intact trend, not a breakdown |
| NTLA | $12.84 | <$11.76 (support shelf) | 55.1 | +15.4% | 55% off its 52-week high, but the year-over-year return and 200-day are both positive |
| COGT | $36.73 | <$35.01 (support shelf) | 42.9 | -7.1% | Sitting right on its 200-day ($36.48) after a 212% one-year run — the level to watch for a flag/breakout setup |
| GILD | $146.12 | <$135.93 (support shelf) | 67.0 | +12.1% | Not extended despite the strong RSI; tight to its own shelf |
| $ISRGE | $378.81 | No support shelf identified | 47.6 | +11.2% | The cut's one real breakdown — below its 200-day, no confirmed floor yet |
Action Matrix
| Action | Stocks | Why |
|---|---|---|
| 🔒 HOLD | ABBV, GILD, AMGN, REGN, BIIB, LLY, VRTX, BMRN, INCY, ILMN, DHR, TMO, IQV, XBI, IBB, IBBQ, KYMR, MDT | Confirmed uptrend/breakout regime, long trend intact on the 1-year/200-day check |
| 📈 ACCUMULATE | BEAM, NTLA, COGT, CRSP | Deep pullback from the 52-week high but still above (or right at) the 200-day with a positive year — the setup this desk watches for |
| 🔍 WATCH | NVO, IONS, SRPT, PTGX | Mixed signals — some below the 200-day, some cooling out of overbought, none confirmed either way |
| ⚠️ AVOID / DON'T CHASE | A, BNTX, DXCM, IBB, MRNA, IQV, AMGN, TMO, REGN | Nine names above RSI 70; MRNA and BNTX in particular posted extreme single-week moves that argue for letting them settle |
| ❌ AVOID / BREAKDOWN WATCH | ISRG, ALNY, LEGN | Below the 200-day average with a negative or lagging year-over-year return — the only names in the cut that fail the long-trend test |
| ⚠️ SPECULATIVE, NOT CORE | DNA, RXRX, LABU | DNA and RXRX are pre-profitability, below their 200-day; LABU is a 3x-leveraged ETF, not a durable holding regardless of its RSI |
What To Watch Next
- Does $ILMN's breakout hold above $219, or does it fade back toward its 20-day ($197.52) the way earlier extended names in this cut have?
- $MRNA and $BNTX both posted extreme single-week moves — does either consolidate into a real base, or does the move fully unwind?
- The overbought club just grew from four names to nine — does the cohort keep extending, or does this scan mark the local top for the group?
- $ISRG remains the one name below its 200-day with a negative year — does it find a floor, or does the relapse (now three scans running) continue?
Sources
- Tape data (price/RSI/SMA/returns): full-scan pre-computed summaries as of the 2026-08-21 close — biotech-scan.
- Prior scan for comparison: 2026-08-14-biotech-scan.
Related
10 eventsNo direct external sources are attached to this read.