Sector Update: Health Care Stocks Hanging On For Narrow Gains Near Monday Close

Last Updated: Monday, November 29, 2021 3:52 PM | MT Newswires

Health care stocks gave back a portion of their midday advance this afternoon, with the NYSE Health Care Index rising 0.2% while the SPDR Health Care Select Sector ETF (XLV) was up 0.5%.

The Nasdaq Biotechnology index also was climbing 0.7%.

In company news, iSpecimen (ISPC) streaked almost 22% higher after announcing plans for a $21 million private placement of roughly 1.7 million common shares with three institutional investors at $12 apiece, or 31% under Friday's closing price. The participating investors also received three-quarters of a 66-month warrant to buy an additional share exercisable at $13 for each share they acquired through the stock offering.

Surgery Partners (SGRY) rose 4.1% following a Stifel upgrade of the surgical facilities network to buy from hold.

Adagio Therapeutics (ADGI) soared 80% on Monday after saying its ADG20 antibody candidate appears to neutralize all of the spike protein mutations of the newly detected Omicron variant of the SARS-CoV-2 virus. ADG20 also should retain activity against Omicron due to the highly conserved and immunorecessive nature of the epitope recognized by the antibody, Adagio said.

Krystal Biotech (KRYS) more than doubled in value, at one point surging 159% to a record $102.99 a share, after saying that its Vyjuvek gene therapy candidate for the treatment of dystrophic epidermolysis bullosa meet the primary endpoint in a phase III study.

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