Last week was the biggest single increase of the year for biotechs, adding over 242 points and 8% to bring the Centient Biotech 200™ Index to 3241. While the Index is still down 4.9% for the year, it is significantly outperforming the NASDAQ, which is down over 8%. Last week The Centient Investor, publisher of the Centient Biotech 200™ Index, said that “We continue to believe that a major biotech rally is in the works.” This may very well prove to have been the turning point for biotech, and they may have exactly called the bottom of the market. Time will tell.
