$BTEC (-0,35%) iShares US Nasdaq Biotechnology
The ETF has gained 25.8% since April 8.
Momentum is high, valuations have been very low for a long time.
Pipeline: In recent months, major companies have announced major successes in trials, especially in autoimmune diseases, oncology and genetic medicine.
Innovation: Technological progress is also being made with AI-supported molecular research, mRNA technologies and cell-based therapies.
Takeovers: Big Pharma is investing and wants to secure future technologies, expand its pipeline and close revenue gaps following patent expiries
Capital flows: This has restored the confidence of institutional investors in particular.
In Q3 2025, these inflows were at a three-year high, particularly from funds from the US and Scandinavia.
Source: boerse-inside.de
I have personally noticed that people like Stanley Druckenmiller have had large biotech holdings recently. Steve Cohen also has a few biotech stocks as his largest position after the usual tech companies.
I think the momentum will continue for some time and it's not just hype but substance.