Genomic Stocks Jump as Nasdaq, Biotech Index Surge | GenomeWeb

NEW YORK, June 5 - Genomics stocks jumped Tuesday, tagging along as investors drove up the Nasdaq by 3.6 percent and the Amex Biotechnology Index to a six-month high.

"Because Nasdaq is looking a little better, investors are looking [to be] a little more adventurous," said James Reddoch, an analyst at Banc of America Securities.

Some genomics companies won't be profitable for another four years, he added, but risk-tolerant investors are beginning to appreciate that a few companies "have a huge amount of value that is hard to quantitate."

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