The iShares NASDAQ
Biotechnology Index (NASDAQ: IBB) is up about 10%.
BIOTECH STOCKS NEAR 2019 LOWS: The iShares Nasdaq
Biotechnology Index, an ETF that tracks the stocks of biotech group, is trading relatively unchanged since early January of 2019.
The Nasdaq
Biotechnology Index, often used as a barometer for investor sentiment about drug prices, was up 0.1 percent after rising as much as 0.5 percent earlier.
The SandP healthcare index ended 1.47 percent higher, while the Nasdaq
Biotechnology index rallied 2.68 percent.
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Biotechnology IndexThe Nasdaq
Biotechnology Index is up 29% since the start of the year, and outpacing other indices.
Even with the recent downturn, the NASDAQ
Biotechnology Index (IBB) has increased 250% in the past five years.
The Nasdaq
Biotechnology Index slipped 2.2 percent, paring its best quarterly gain since 2013.
After a year of remarkable gains--accentuated by a near-record number of initial public offerings (IPOs) and 61 percent rise in the NASDAQ
Biotechnology Index (the gain is more than double the S&P 500's 26 percent growth in 2013)--biotech stocks have significantly lost their luster.