Virtus Biotech ETF

BBP

Market cap $61.1M

After a 50%+ run from lows last April through highs in mid-January, the Biotech group has been trending sideways over the last few months. Biotech hasn't garnered much attention lately, with all the coverage of the Iran War and the AI Doom trade that's been taking down software stocks even as AI infrastructure stocks continue to surge.

The healthcare sector has experienced one of its most significant de-ratings in 35 years, with valuations now at a 30% discount to the broader market. Healthcare trades at historical valuation discounts across multiple metrics.

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The biotech space staged a strong comeback at the start of 2024, driven by multi-billion dollar deals, upbeat clinical results and cutting-edge medical advances like CRISPR gene-editing hitting prime-time.