BioCentury
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Biotech stocks steady after Wednesday's slide

March 27, 2015 12:50 AM UTC

Biotech stocks traded relatively flat Thursday, recovering from moderate losses in intraday trading. The sector posted sharp declines earlier in the week as some investors feared that biotechs have become overvalued after a multi-year boom (see BioCentury Extra, March 25).

The BioCentury 100 ended Thursday at 6,952.39, up a fraction of a percent although decliners outnumbered gainers 58 to 42. The index shed 4.6% on Wednesday and had dropped 7.6% over three days since Friday's close. ...