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Infographic – Biotech Index Continues Downward Trend

Line chart: Nasdaq Biotechnology Index, Jan - Sept 2023.

Click on image for full-size view (Nasdaq)

30 Sept. 2023. The Nasdaq Biotechnology Index, an indicator of investor sentiment in an industry based on science, continued heading down during the third quarter of 2023. NBI closed yesterday at 3,954, a decline of 5.3 percent since the start of trading on 3 Jan. 2023, and down 2.5 percent since the beginning of July.

The index, compiled with share prices of 262 biotechnology and pharmaceutical companies listed on the Nasdaq exchange, began rising during most of July, closing at 4,175 on 21 July, about the same as its price on the first day of trading this year. Then NBI fluctuated between 4,000 and 4,150 through the rest of July and August, only to decline through September to yesterday’s closing price below 4,000. The index’s price fluctuations showed a similar pattern in the second quarter of this year.

Despite the downward trend this year, NBI is still ahead by 4.9 percent of its close at the end of Sept. 2022. By comparison, however, the Nasdaq Composite Index, an indicator of investment sentiment in the technology sector overall, is up by 21.4 percent since the beginning of 2023 and 20 percent over the past 12 months.

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