Mississauga, ON -- (SBWIRE) -- 11/01/2016 -- AllPennyStocks.com Media, Inc. (http://www.AllPennyStocks.com/) announces its latest article titled "Organovo Soars On Strong Customer Response For Its Second Tissue Service."
Companies mentioned in this article include iShares NASDAQ Biotechnology Index (ETF) (NASDAQ:IBB) and Organovo Holdings Inc. (NASDAQ:ONVO).
The biotechnology sector has seen a sharp pullback over the last month as uncertainties due to the upcoming U.S. election has weighed down investors' sentiment. The iShares NASDAQ Biotechnology Index (ETF) (NASDAQ:IBB) is down more than 11% in the last month alone.
The sector had begun the year on a disappointing note but it did bounce back in the second quarter and continued to gain momentum in the third quarter as well. However, IBB failed to break through the $300 mark. Year-to-date, the ETF remains down nearly 24%, indicating that investors' sentiment on the sector remains negative. This is in sharp contrast to how the biotech sector performed between 2010 and 2015, when valuations touched record high levels. It will be interesting to see if the sector does bounce back after the U.S. elections though.
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