基金调仓创新药？估值偏差暴露资金“迁徙”，机构紧急提示：短期交易过热

Core Viewpoint - The innovative drug sector has shown a sharp upward trend, attracting funds that previously focused on other pharmaceutical segments to increase their positions in innovative drugs [1][3]. Fund Adjustments - Several funds have shifted their focus towards innovative drugs, with notable examples including Huafu Health Entertainment, which previously held stocks like Olin Bio, Mingyue Lens, and others, but has now significantly adjusted its portfolio towards innovative drugs [3]. - The fund manager of Yongying Medical Health expressed optimism about the innovative drug sector, highlighting the upcoming product release cycles and potential business development transactions [4]. Fund Inflows - There has been a notable influx of capital into innovative drug ETFs, with 17 out of 20 ETFs experiencing positive growth in shares, indicating strong investor interest [6]. - New innovative drug-themed funds are being launched, reflecting the ongoing enthusiasm in the sector [6]. Market Sentiment and Risks - Despite the positive sentiment, there are warnings from professionals about potential overvaluation and market overheating in certain stocks within the innovative drug sector [2][8]. - The market is currently experiencing a correction, which some analysts view as a necessary adjustment after a rapid rise in stock prices [8]. Long-term Outlook - Analysts believe that the current innovative drug market dynamics represent a rational correction of previously overly pessimistic expectations, with strong underlying momentum supporting continued performance in the sector [7][8].