Updated Jan. 7, 2022 9:15 p.m. ET / Original Jan. 7, 2022 9:06 p.m. ET
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Biotech stocks began the twelvemonth successful overmuch the aforesaid mode they ended it—by getting hammered. Vertex Pharmaceuticals, however, held its own, and that whitethorn beryllium crushed capable to commencement nibbling astatine its shares.
The assemblage had a unspeakable 2021. The iShares Biotechnology exchange-traded money (ticker: IBB), which weights its holdings by marketplace capitalization, roseate 1%, its worst twelvemonth since 2018, portion the equal-weighted SPDR S&P Biotech ETF (XBI) fell 25%, its worst twelvemonth since astatine slightest 2007. This twelvemonth was expected to beryllium better, but truthful acold it’s...