Despite the group’s big losses since May, the results show Small/Micro Cap Biotechs are still richly valued. As market volatility heats up, this group faces additional downside risk.
While Large/Mid Cap Biotechnology companies are boasting rising profitability, better cash flows, and stronger drug pipelines, the Small/Micro Cap Biotech firms, in general, have little tangible to show and valuations may be above the comfort zone.
New Select Industries Portfolio equity group positions being established in Systems Software and Small/Micro Cap Biotech.
Biotechnology and Biotech...Small/Micro were this week's best groups. Oil & Gas Exploration & Production and Airlines were this week's worst groups.