After a tumultuous 2022, growth stocks have started to regain their footing in 2023. Small- and mid-cap growth stocks, in particular, have seemingly benefited from a fair amount of bargain hunting during the opening weeks of the new year. 

Nowhere is this pattern more evident than the beaten-down biopharmaceutical space. Clinical-stage and early commercial-stage biopharma stocks were routed last year over concerns about rising interest rates. The bellwether SPDR S&P Biotech ETF, for instance, lost a staggering 25.8% of its value in 2022. However, this closely watched biotech fund has inched higher by nearly 4% over the first six weeks of 2023.

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Source Fool.com