XBI hits a 52-week high, climbing 85% from its low, as biotech gains momentum from AI adoption and favorable market trends.
The State Street SPDR S&P Biotech ETF (XBI) made its debut on 01/31/2006, and is a smart beta exchange traded fund that provides broad exposure to the Health Care ETFs category of the market.
XBI hits a fresh 52-week high after a sharp rebound in biotech momentum fueled by favorable regulation, valuations and improving funding trends.
US Biotech is lagging other categories in terms of IPO and M&A, but could be overdue for a recovery with capital costs falling. Funding conditions are important for XBI which contains plenty of reflexive, cash-burning businesses. Valuations also look tempered, but P/E is of limited use given the confusion caused by unprofitable businesses in the ETF, but broader indices are historically cheap.
State Street SPDR S&P Biotech ETF (XBI) has surged nearly 30% YTD, regaining the attention of Wall Street. The outperformance is due to an equal-weight structure, which makes it a high-beta instrument, particularly dependent on the small/mid U.S. biotech segment. For this reason, in my opinion, it remains more sensitive to the dynamics that affect early-stage (pre-revenue / clinical stage) companies.
If you're interested in broad exposure to the Healthcare - Biotech segment of the equity market, look no further than the SPDR S&P Biotech ETF (XBI), a passively managed exchange traded fund launched on January 31, 2006.
XBI has rebounded over 20% since lows in April, despite changes at the FDA that could have signaled a tougher regulatory environment. Vinay Prasad was only appointed in May, but is now leaving the FDA, meaning there will again be a new Director of the Center for Biologics Evaluation and Research. Prasad's appointment caused XBI to drop in May, but the sector still continued on with its recovery.
The SPDR S&P Biotech ETF (XBI) made its debut on 01/31/2006, and is a smart beta exchange traded fund that provides broad exposure to the Health Care ETFs category of the market.
Designed to provide broad exposure to the Healthcare - Biotech segment of the equity market, the SPDR S&P Biotech ETF (XBI) is a passively managed exchange traded fund launched on 01/31/2006.
The SPDR S&P Biotech ETF (XBI) was launched on 01/31/2006, and is a smart beta exchange traded fund designed to offer broad exposure to the Health Care ETFs category of the market.
Looking for broad exposure to the Healthcare - Biotech segment of the equity market? You should consider the SPDR S&P Biotech ETF (XBI), a passively managed exchange traded fund launched on 01/31/2006.
Joe Terranova, Senior Managing Director for Virtus Investment Partners, joins CNBC's "Halftime Report" to detail his latest portfolio moves.