Click on image for full-size view. (Nasdaq)
1 July 2023. The Nasdaq Biotechnology Index, an indicator of investor sentiment in science-based businesses, bounced back from its 2023 low point, but still ended down slightly for the year on 30 June. Nonetheless, the index showed gains during most of the second quarter of 2023, and remains ahead of its July 2022 numbers. The index tracks share prices for 268 biotechnology and pharmaceutical companies trading on the Nasdaq exchange.
From April through June 2023, NBI fluctuated each day between 4,100 and 4,250 for most of the quarter, largely rising from its low for the year on 10 March at 3,856 and close at 4,147 on 3 April to its high point at 4,279 on 21 April. But the index dipped in the last week of June, closing at 4,077, down 1.7 percent for the quarter and 2.3 percent for the year. Even with that late decline, NBI is still up by 6.4 percent since July 2022.
Compared to the Nasdaq Composite Index, an indicator of investor confidence in the overall technology sector, NBI is left in the dust. Since the start of 2023, Nasdaq Composite rose by 32.7 percent, closing at 13,788, the largest first-half increase in 40 years. For the past 12 months, that index is up nearly 24 percent.
More from Science & Enterprise:
- Infographic – Biotech Index Down in Q1 2023
- Infographic – Biotech Index Struggles to Regain Ground
- Infographic – Biotech Index Q3 Rollercoaster
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