Sell Viela Bio (VIE)
We’ve held on to Viela Bio (VIE) despite lackluster performance, in part because the broader trend in biotech stocks has been down since July 20. But with the company just having reported and no real change in the near-term story, the stock being our weakest performer, and with fresh opportunities coming up in the next issue, I’m going to let it go today. For those who wish to hold on to the stock, there’s nothing “wrong” with it per se. Biotech stocks often go through these big swings, and in Viela’s case the company is moving toward commercialization of Uplizna (though details on the conference call were very sparse, owing to recent approval in June). However, given the stock’s trend, and especially in the context of our other opportunities, it’s time to step aside. SELL