Biotech Stocks
Top 10 of 162 XBI holdings, updated
As of 12 October 2026, biotech stocks are trailing the S&P 500, over the past month and over the longer run. XBI trails the S&P 500 by 5.1 points over one month and ranks #66 of 115 groups Zensei tracks. 55 of the 157 biotech stocks Zensei prices in XBI beat the fund this month.
Where biotech stocks stand now
As of 12 October 2026, Biotechnology (XBI) ranks #66 of the 115 groups Zensei tracks by one-month return against the S&P 500. It is out of favor: it trails the S&P 500 on both rotation windows — 5.1 points behind over the past month and 1.5 points behind over the longer, time-shifted window. That is the Underperformers quadrant.
On the shorter tape, XBI's momentum is weakening: the intraday trend that carried the move is cooling across the shorter windows. XBI's relative-strength line has broken below its long-term average — the long-term outperformance trend is no longer intact. Both signals point the same direction here: the market is not rewarding this group on either horizon.
The exposure comes via SPDR S&P Biotech ETF, whose 162 tracked holdings are led by Moderna Inc, Twist Bioscience Corp and Natera Inc. The thing to watch from here is the one-month spread: underperformers only become interesting when the recent window turns positive first — until then, the market is voting elsewhere.
As of , these are the largest biotech stocks in XBI by fund weight, and the strongest over the past month. Size and recent return are measurements, not recommendations.
Top biotech stocks by fund weight
Ranked by largest share of XBI
- 1Moderna IncMRNA2.2%
- 2Twist Bioscience CorpTWST1.9%
- 3Natera IncNTRA1.8%
- 4Abbvie IncABBV1.6%
- 5United Therapeutics CorpUTHR1.6%
Best biotech stocks this month
Ranked by one-month return, among the holdings Zensei prices
- 1Kodiak Sciences IncKOD+201.8%
- 2Grail IncGRAL+80.2%
- 3Iovance Biotherapeutics IncIOVA+69.3%
- 4Moderna IncMRNA+48.5%
- 5Novavax IncNVAX+34.4%
Biotech Stocks vs the S&P 500
Over the week to 12 October 2026, XBI fell 3.1% while the S&P 500 rose 0.4%. The table compares XBI and SPY (the S&P 500) over every window Zensei tracks. The spread is the difference: positive means XBI won that window.
Prices as of · computed from daily adjusted closes · how we measure
Biotechnology on the rotation map, against the 11 broad S&P 500 sectors. Vertical: 1-month spread vs the S&P 500. Horizontal: the longer, time-shifted window.
Are biotech stocks expensive?
Under half of the weight in XBI has a positive P/E, so a fund P/E would not describe the fund. Zensei shows a fund P/E from 50% coverage. Compare with every sector and theme: P/E ratio by sector.
XBI holdings: the biotech stocks inside
This list covers all 162 biotech stocks in XBI, heaviest first; the 10 largest show their returns where Zensei has a price. As of 12 October 2026, 55 of the 157 biotech stocks Zensei prices in XBI beat the fund over the past month. 39 of them beat the S&P 500. The strongest is Kodiak Sciences Inc (KOD); the weakest is Compass Therapeutics Inc (CMPX). Inside the fund, one or two outliers drive most of the move.
| # | Holding | Weight | 1M | 3M | vs fund 1M | Momentum | RS health |
|---|---|---|---|---|---|---|---|
| 1 | MRNAModerna Inc | 2.2% | +48.5% | +219.0% | +51.5 pts | Strong | Strong |
| 2 | TWSTTwist Bioscience Corp | 1.9% | +19.4% | +68.1% | +22.4 pts | Fading | Fading |
| 3 | NTRANatera Inc | 1.8% | +20.9% | +45.8% | +24.0 pts | Fading | Holding |
| 4 | ABBVAbbvie Inc | 1.6% | +9.3% | +14.1% | |||
| 5 | UTHRUnited Therapeutics Corp | 1.6% | +10.7% | +2.7% | |||
| 6 | BIIBBiogen Inc | 1.6% | +5.6% | +9.7% | |||
| 7 | AMGNAmgen Inc | 1.6% | +10.7% | +16.5% | |||
| 8 | HALOHalozyme Therapeutics Inc | 1.6% | +3.6% | +45.9% | |||
| 9 | GILDGilead Sciences Inc | 1.5% | +5.3% | +15.1% | |||
| 10 | EXELExelixis Inc | 1.5% | +6.6% | +6.7% |
All 162 XBI holdings by weight: Moderna Inc (MRNA) 2.2%, Twist Bioscience Corp (TWST) 1.9%, Natera Inc (NTRA) 1.8%, Abbvie Inc (ABBV) 1.6%, United Therapeutics Corp (UTHR) 1.6%, Biogen Inc (BIIB) 1.6%, Amgen Inc (AMGN) 1.6%, Halozyme Therapeutics Inc (HALO) 1.6%, Gilead Sciences Inc (GILD) 1.5%, Exelixis Inc (EXEL) 1.5%, Iovance Biotherapeutics Inc (IOVA) 1.5%, Protagonist Therapeutics Inc (PTGX) 1.5%, Revolution Medicines Inc (RVMD) 1.5%, TG Therapeutics Inc (TGTX) 1.5%, Vertex Pharmaceuticals Inc (VRTX) 1.5%, Crispr Therapeutics AG (CRSP) 1.5%, PTC Therapeutics Inc (PTCT) 1.4%, Krystal Biotech Inc (KRYS) 1.4%, Spyre Therapeutics Inc (SYRE) 1.4%, Neurocrine Biosciences Inc (NBIX) 1.4%, Regeneron Pharmaceuticals Inc (REGN) 1.4%, Alkermes PLC (ALKS) 1.4%, Vaxcyte Inc (PCVX) 1.4%, Incyte Corp (INCY) 1.4%, Madrigal Pharmaceuticals Inc (MDGL) 1.3%, Grail Inc (GRAL) 1.3%, Bridgebio Pharma Inc (BBIO) 1.3%, Oruka Therapeutics Inc (ORKA) 1.3%, Alnylam Pharmaceuticals Inc (ALNY) 1.3%, Biomarin Pharmaceutical Inc (BMRN) 1.3%, Roivant Sciences Ltd (ROIV) 1.3%, Cytokinetics Inc (CYTK) 1.2%, Travere Therapeutics Inc (TVTX) 1.2%, PRAX 1.2%, Erasca Inc (ERAS) 1.2%, Cogent Biosciences Inc (COGT) 1.2%, Dianthus Therapeutics Inc (DNTH) 1.2%, Insmed Inc (INSM) 1.2%, Kodiak Sciences Inc (KOD) 1.2%, Ionis Pharmaceuticals Inc (IONS) 1.2%, Kymera Therapeutics Inc (KYMR) 1.2%, Immunitybio Inc (IBRX) 1.2%, Arrowhead Pharmaceuticals Inc (ARWR) 1.1%, Rhythm Pharmaceuticals Inc (RYTM) 1.1%, Veracyte Inc (VCYT) 1.0%, Mirum Pharmaceuticals Inc (MIRM) 1.0%, Viking Therapeutics Inc (VKTX) 1.0%, CG Oncology Inc (CGON) 1.0%, Tango Therapeutics Inc (TNGX) 0.9%, Relay Therapeutics Inc (RLAY) 0.9%, Beam Therapeutics Inc (BEAM) 0.9%, Caredx Inc (CDNA) 0.9%, Celcuity Inc (CELC) 0.8%, Scholar Rock Holding Corp (SRRK) 0.8%, Ultragenyx Pharmaceutical Inc (RARE) 0.8%, ARQT 0.7%, Hyperliquid Strategies Inc (PURR) 0.7%, Recursion Pharmaceuticals Inc (RXRX) 0.7%, Dyne Therapeutics Inc (DYN) 0.7%, Immunovant Inc (IMVT) 0.7%, Summit Therapeutics Inc (SMMT) 0.7%, Sellas Life Sciences Group Inc (SLS) 0.7%, Denali Therapeutics Inc (DNLI) 0.6%, Biocryst Pharmaceuticals Inc (BCRX) 0.6%, Ideaya Biosciences Inc (IDYA) 0.6%, Vera Therapeutics Inc (VERA) 0.6%, Agios Pharmaceuticals Inc (AGIO) 0.5%, Novavax Inc (NVAX) 0.5%, Sarepta Therapeutics Inc (SRPT) 0.5%, Arcus Biosciences Inc (RCUS) 0.5%, Nurix Therapeutics Inc (NRIX) 0.5%, Intellia Therapeutics Inc (NTLA) 0.5%, Celldex Therapeutics Inc (CLDX) 0.5%, Acadia Pharmaceuticals Inc (ACAD) 0.5%, Palvella Therapeutics Inc (PVLA) 0.5%, Uniqure NV (QURE) 0.5%, Viridian Therapeutics Inc (VRDN) 0.5%, Adma Biologics Inc (ADMA) 0.5%, Absci Corp (ABSI) 0.5%, Vericel Corp (VCEL) 0.5%, Disc Medicine Inc (IRON) 0.4%, Biohaven Ltd (BHVN) 0.4%, Precigen Inc (PGEN) 0.4%, Syndax Pharmaceuticals Inc (SNDX) 0.4%, Nektar Therapeutics (NKTR) 0.4%, Immunome Inc (IMNM) 0.4%, Replimune Group Inc (REPL) 0.3%, Mineralys Therapeutics Inc (MLYS) 0.3%, Xencor Inc (XNCR) 0.3%, Stoke Therapeutics Inc (STOK) 0.3%, Inhibrx Biosciences Inc (INBX) 0.3%, Zenas Biopharma Inc (ZBIO) 0.3%, Oric Pharmaceuticals Inc (ORIC) 0.3%, Anaptysbio Inc (ANAB) 0.3%, VIR Biotechnology Inc (VIR) 0.3%, Kura Oncology Inc (KURA) 0.3%, First Tracks Biotherapeutics Inc (TRAX) 0.3%, Mannkind Corp (MNKD) 0.3%, Tyra Biosciences Inc (TYRA) 0.2%, Ardelyx Inc (ARDX) 0.2%, Annexon Inc (ANNX) 0.2%, Jade Biosciences Inc (JBIO) 0.2%, TSHA 0.2%, Rigel Pharmaceuticals Inc (RIGL) 0.2%, Monte Rosa Therapeutics Inc (GLUE) 0.2%, Candel Therapeutics Inc (CADL) 0.2%, Geron Corp (GERN) 0.2%, Janux Therapeutics Inc (JANX) 0.2%, VOR Biopharma Inc (VOR) 0.2%, Immix Biopharma Inc (IMMX) 0.2%, Avalo Therapeutics Inc (AVTX) 0.2%, Cullinan Therapeutics Inc (CGEM) 0.2%, Corvus Pharmaceuticals Inc (CRVS) 0.2%, Verastem Inc (VSTM) 0.2%, Bicara Therapeutics Inc (BCAX) 0.2%, OLMA 0.2%, Savara Inc (SVRA) 0.2%, Arrivent Biopharma Inc (AVBP) 0.2%, Damora Therapeutics Inc (DMRA) 0.1%, Regenxbio Inc (RGNX) 0.1%, Capricor Therapeutics Inc (CAPR) 0.1%, Hemab Therapeutics Holdings Inc (COAG) 0.1%, Achieve Life Sciences Inc (ACHV) 0.1%, 4d Molecular Therapeutics Inc (FDMT) 0.1%, Sana Biotechnology Inc (SANA) 0.1%, Prime Medicine Inc (PRME) 0.1%, Allogene Therapeutics Inc (ALLO) 0.1%, Ironwood Pharmaceuticals Inc (IRWD) 0.1%, Cytomx Therapeutics Inc (CTMX) 0.1%, Kailera Therapeutics Inc (KLRA) 0.1%, Emergent Biosolutions Inc (EBS) 0.1%, Altimmune Inc (ALT) 0.1%, Arbutus Biopharma Corp (ABUS) 0.1%, Editas Medicine Inc (EDIT) 0.1%, Monopar Therapeutics Inc (MNPR) 0.1%, Myriad Genetics Inc (MYGN) 0.1%, Climb Bio Inc (CLYM) 0.1%, Solid Biosciences Inc (SLDB) 0.1%, Ocugen Inc (OCGN) 0.1%, Design Therapeutics Inc (DSGN) 0.1%, Sagimet Biosciences Inc (SGMT) 0.1%, Shattuck Labs Inc (STTK) 0.1%, Cabaletta Bio Inc (CABA) 0.1%, ARS Pharmaceuticals Inc (SPRY) 0.1%, Aktis Oncology Inc (AKTS) 0.1%, Mimedx Group Inc (MDXG) 0.1%, Vanda Pharmaceuticals Inc (VNDA) 0.1%, Prothena Corp PLC (PRTA) 0.1%, Neurogene Inc (NGNE) 0.1%, Assembly Biosciences Inc (ASMB) 0.1%, Contra Metsera Inc 0.1%, Ovid Therapeutics Inc (OVID) 0.1%, Aura Biosciences Inc (AURA) 0.1%, Compass Therapeutics Inc (CMPX) 0.1%, Crescent Biopharma Inc (CBIO) 0.1%, Faeth Therapeutics Inc (FTH) 0.1%, Lexeo Therapeutics Inc (LXEO) 0.1%, Bridgebio Oncology Therapeutics Inc (BBOT) 0.0%, Contra Inhibrx Inc 0.0%, Contra Akero Therapeut 0.0%, Contra Verve Therapeut 0.0%, Contra Mirati Therapeu 0.0%.
Biotech Stocks: common questions
Biotech stocks list: which stocks are in XBI?
As of 12 October 2026, XBI holds 162 biotech stocks, and this page lists all 162. The three largest by fund weight are Moderna Inc (MRNA, 2.2%), Twist Bioscience Corp (TWST, 1.9%) and Natera Inc (NTRA, 1.8%). Each one shows its fund weight; the 10 largest also show their one-month and three-month returns where Zensei has a price.
What are the best biotech stocks this month?
As of 12 October 2026, ranked by one-month return, the three strongest biotech stocks in XBI are Kodiak Sciences Inc (KOD, +201.8%), Grail Inc (GRAL, +80.2%) and Iovance Biotherapeutics Inc (IOVA, +69.3%). This ranks past return only; it does not forecast the next month.
What are the top 3 biotech stocks?
As of 12 October 2026, the three largest biotech stocks in XBI by fund weight are Moderna Inc (MRNA, 2.2%), Twist Bioscience Corp (TWST, 1.9%) and Natera Inc (NTRA, 1.8%). Fund weight shows size inside the fund, not a recommendation.
Which biotech stocks are beating the sector?
As of 12 October 2026, 55 of the 157 biotech stocks Zensei prices in XBI beat the fund over the past month. The strongest over the past month is Kodiak Sciences Inc (KOD). The table above shows the largest holdings with their weights and returns.
Which ETF holds biotech stocks?
Several ETFs hold biotech stocks. Zensei tracks the group through XBI, the SPDR S&P Biotech ETF. As of 12 October 2026, its published holdings list 162 biotech stocks, and the 10 largest make up 16.9% of the fund.
Are biotech stocks outperforming the S&P 500?
No. As of 12 October 2026, XBI trails the S&P 500 by 5.1 points over the past month.
What is XBI?
XBI is SPDR S&P Biotech ETF. Zensei uses it to measure biotech stocks against the S&P 500 (SPY).
What stocks does XBI own?
As of 12 October 2026, the largest of the 162 positions Zensei tracks in XBI are Moderna Inc, Twist Bioscience Corp, Natera Inc, Abbvie Inc, United Therapeutics Corp. Each position measured against the fund, with momentum and relative strength, is part of Zensei Premium.
What quadrant is biotechnology in right now?
As of 12 October 2026, biotechnology is in the Underperformers quadrant — trailing the S&P 500 on both windows. The Zensei methodology page explains the quadrants.
Recent changes
- ·Losing ground → trailing the market
- ·Trailing the market → losing ground
- ·First tracked: trailing the market
Related sectors
Track biotechnology against the whole market
Zensei Edge maps 100+ sectors and themes against the S&P 500 — with the stocks inside each one, rotation history and alerts when leadership changes hands.
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