5:05 PM
 | 
Dec 29, 2017
 |  BC Extra  |  Financial News

Biotech indexes close 2017 with a whimper

Biotech indexes had an outstanding 2017 in terms of absolute gains, but a weak fourth quarter put relative performance only slightly ahead of the broader market and behind that of the wider technology sector.

The NASDAQ Biotechnology Index (NBI) fell 4% in the fourth quarter to finish the year with a gain of 21%.

The iShares Nasdaq Biotechnology ETF (IBB), which is benchmarked to the NBI, likewise gained 21% for the year despite a 4% loss in 4Q17. The less diversified NYSE Arca Biotechnology Index (BTK) fared better, finishing the year up 37% after a flattish final quarter.

The price-weighted BioCentury 100 ended 2017 up 32%. The index was also nearly flat in the...

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