MIRM - 3 Biotech Stocks For The Second Half Of 2024

2024-06-27 16:48:49 ET

Summary

• The small biotech sector has badly underperformed the major market indices so far in 2024.
• However, that could change as the Federal Reserve cuts interest rates and/or M&A deal volume picks up across the industry.
• Today, we highlight three small-cap biotech companies that could perform quite well in the second half of 2024.
• All have seen positive trial developments recently to boot.  We update the investment thesis around these three attractive concerns in the paragraphs below.

The small biotech sector has underperformed the major indices in a major way so far in 2024. While the NASDAQ (COMP.IND) and S&P 500 (SP500) are both up in the mid-teens so far this year, the SPDR® S&P Biotech ETF ( XBI ) up just over three percent in 2024. It should be noted that AI juggernaut Nvidia Corporation ( NVDA ) has accounted for approximately a third of the gains in the major indices year to date. ...

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