2Q21 Wrap: IPOs lead the way
With biotech stocks mostly flat in 2Q21, IPOs were top performers
Winners, losers in biotech stock tiers in 2Q21.
Biotech stocks across all market cap tiers were mostly flat in 2Q21, with only one large cap achieving a major gain, microcaps falling a median of 4% and three middle market cap tiers hobbling along with gains of less than 1% each. Recent IPOs, and in particular IPOs by companies from China, accounted for many of the quarter’s top performers.
For large caps — defined as companies starting the quarter with valuations