AveXis (AVXS) soared over 81% on Novartis (NVS) offer to buy the Company for $8.7B in cash and sparked another rally in gene therapy stocks . AveXis' lead product AVXS-101 is expected to enhance Novartis'  position as a gene therapy and neuroscience leader. The FDA has granted AVXS-101 an Orphan Drug Designation and Breakthrough Therapy Designation for treatment of spinal muscular atrophy or SMA Type 1.

Biotech stocks fell through a critical bottom last Friday

Gene therapy stocks rallied on the deal: BLUE up 6.48%, CLLS up 1.07%, CRSP up 3.67%, EDIT up 1.47%, NTLA up 2.54%, ONCE up 13.37% and SGMO up 5%.

Agios Pharmaceuticals (AGIO) soared 9.26%, up 33.7% YTD on buyout speculation as a result of the AveXis deal. Agios and 16 other mid-caps were on our momentum and buyout speculation list. AVXS was also on the list.