Biotechnology has been out of favor with investors since the third quarter of 2021. Rising interest rates and a risk-averse environment conspired to drive investors into safe havens, and away from speculative biotech stocks.

With interest rates set to fall and the economy likely poised for a soft landing, however, biotech equities could regain their appeal in 2024. After all, this innovation-fueled segment of the market has a remarkable history of producing a surfeit of so-called "multibaggers" -- even more than the vaunted technology sector.

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Source Fool.com