MannKind (MNKD), Geron (GERN) Rise Ahead of ETF Rebalancing
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Small biotechs MannKind (NASDAQ: MNKD) (+6.5%), Geron Corp (NASDAQ: GERN) (+0.4%) are higher into the close as shares will be bought due to the re-balancing of the PowerShares family of Dynamic ETFs after the close today.
Strategists at Cowen estimated that 2.41 million share of MNKD will be bought and 2.65 million shares of GERN will be bought.
Other stocks to be bought in the re-balance include: Novavax (NASDAQ: NVAX), Exelixis (NASDAQ: EXEL), Achillion Pharmaceuticals (NASDAQ: ACHN), Depomed (NASDAQ: DEPO), Hewlett Packard Enterprise (NYSE: HPE)
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