Buying the battered

BB Biotech AG (SIX:BION; Xetra:BBZA) is starting to take advantage of a gap between U.S. and European biotech stock declines it believes has grown too wide. The firm is looking to remedy the hosing it took in 1Q16 - along with anyone else investing in biotech - by trimming some of its European positions and redeploying the money to depressed U.S. small- and mid-caps.

The publicly listed fund's market cap declined by 17% last quarter on the back of the company's net loss of CHF1.2 billion ($1.3 billion). ...