Sector Update: Health Care Stocks Catch Late Bounce to Plus Side

Last Updated: Monday, June 28, 2021 4:12 PM | MT Newswires

Health care stocks were finishing slightly higher Monday afternoon, with the NYSE Health Care Index ahead 0.1% while the SPDR Health Care Select Sector ETF edged up 0.2%.

The Nasdaq Biotechnology Index was 0.1% higher.

In company news, Intellia Therapeutics (NTLA) gained as much as 63% at its intraday peak, closing 50% higher, after the genome editing company and Regeneron (REGN) reported positive interim data from a phase I trial of their NTLA-2001 CRISPR/Cas9-based therapy candidate for hereditary transthyretin amyloidosis. The shares of several other genome-editing companies, including Editas Medicine (EDIT) and CRISPR Therapeutics (CRSP) also were significantly higher Monday afternoon.

DFP Healthcare Acquisitions (DFPH) was edging higher shortly before the closing bell after agreeing to a business combination with The Oncology Institute of Hope and Innovation in a deal valuing the California-based cancer treatments company at about $842 million

On the losing side, Exelixis (EXEL) fell more than 23% after saying its cabozantinib drug candidate is unlikely to show a statistically significant improvement in overall survival in a phase 3 trial.

Global Blood Therapeutics (GBT) dropped 8.7% after JPMorgan downgraded the stock to neutral from overweight and cut its price target to $36 a share from $70 previously.

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