Additionally, the broader SPDR S&P Biotech ETF (NYSEArca: XBI), which tracks an equal-weight index of biotechnology companies, gained 5.8%. XBI includes a 42.0% tilt toward micro-caps, along with 34.1% small-caps and 11.6% mid-caps.
“We expect the pace of activity in the healthcare sector, and in particular Life Sciences, to continue as participants respond to the market’s need for expanding therapeutic solutions in a highly cost conscious environment,” Stuart Smith, global head of healthcare at Credit Suisse, said, according to a Financial Times article.
iShares Nasdaq Biotechnology ETF
For more information on the biotech sector, visit our biotechnology category.
Max Chen contributed to this article.