Biotech should 'bear fruit' in 2025, says portfolio manager

STORY: "When you look at the biotech sector, it has been in a bear market for three years," Lundgren said, "and there's a lot of science that's kind of been budding beneath the surface."

Lundgren explained that biotech stocks represent one of "the most aggressive areas of the market" that require "the most forward-looking optimism."

"Biotechs don't have earnings today, they don't have revenues today," he said. "There's just a lot of hope and promise and most of them fail."

But Lundgren said trends "are are starting to indicate that things are really starting to get better for for biotech, and if that's the case, that's very much a risk-on signal for the broader market."