Biotech ETF (CANC) Hits New 52-Week High
Tema Oncology ETF CANC is probably on the radar for investors seeking momentum. The fund just hit a 52-week high and has surged 72.8% from its 52-week low price of $26.24 per share.
Are more gains in store for this ETF? Let us take a quick look at the fund and the near-term outlook on it to get a better idea of where it might be headed.
CANC in Focus
The Tema Oncology ETF seeks to provide long-term growth by investing in companies operating in the oncology industry. The CANC ETF consists of 58 total holdings, with the top 10 constituting 40.20% of the fund's assets. The leading holdings include Revolution Medicines Inc (6.02%), Eli Lilly & Co (5.01%), and Cogent Biosciences Inc (4.99%). The product charges 75 bps in annual fees.
Why the Move?
Merck and Moderna recently announced that the Phase 3 INTerpath-001 trial of intismeran autogene plus KEYTRUDA met its endpoints for recurrence-free survival (RFS) and distant metastasis-free survival (DMFS) in patients with completely resected Stage IIB-IV melanoma. Moderna stock surged 177% on Aug. 19, 2026 while Merck shares gained 12.6% on the day. The news acted as a cornerstone for the whole cancer investing space, boosting the pure-play fund.
More Gains Ahead?
The ETF gained over 3% on Aug. 19, 2026. CANC might continue its strong performance in the near term, with a positive weighted alpha of 66.73 (per Barchart.com), which hints at a rally.
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This article originally published on Zacks Investment Research (zacks.com).
Source Zacks-com
