Biotech slumps on rotation to value, but buysiders say fundamentals still strong
Sector-specific concerns plus an investor rotation out of growth stocks have sent biotech shares tumbling. Buysiders think the slide is a healthy correction rather than a sign the dance music has stopped.
The iShares Nasdaq Biotechnology (IBB) exchange traded fund hit a 52-week high of 275.4 on Feb. 25. Over the past month, however, the IBB is off 13%, the BioCentury 100