Biotech funds are beating the market, but investors are still bailing out
Biotech stocks have been beating the market since the start of October, but investors are still pulling their money from funds that focus on the stocks. In his weekly note on the flow of money into and out of those funds, PiperJaffray analyst Christopher J. Raymond wrote that investors took a net $99 million out of healthcare/biotech-dedicated funds. "As we see it, this is a key dynamic to monitor as periods of net inflows historically correspond with biotech outperformance while periods of net outflows correspond with sector underperformance," Raymond wrote.
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