Sector Update: Health Care Stocks Pare Early Gains As Cyclicals Dominate Afternoon Trade

Last Updated: Wednesday, September 15, 2021 3:52 PM | MT Newswires

Health care stocks eased from their prior gains Wednesday afternoon, with the NYSE Health Care Index rising 0.7% while the SPDR Health Care Select Sector ETF (XLV) was up 0.7%.

The Nasdaq Biotechnology index also was climbing 0.8%.

In company news, BioCryst Pharmaceuticals (BCRX) slid 2.8% after a regulatory filing overnight showed board member George Abercrombie last Friday exercised options priced between $1.71 to $3.22 per share to buy and then sell 71,000 shares at $15.09 each, generating around $1.07 million in net proceeds before taxes and other expenses. Last week, the former chief commercial officer at Innoviva (INVA) also sold another 3,000 shares he previously owned at the same $15.09 per share price.

BioLife Solutions (BLFS) fell 5.2% after the bioproduction tools and services firm Wednesday said Roderick de Greef will retire as chief financial officer on Dec. 31 but will continue to consult for the company through the end of March. No successor was immediately named, and BioLife has retained an executive search firm to help identify a new CFO.

Among gainers, Indaptus (INDP) rallied Wednesday, almost 56% in recent trading, after the immunotherapy company said it received a notice of allowance from the US Patent and Trademark Office for its platform technology for the treatment of HBV and HIV infections.

Ampio Pharmaceuticals (AMPE) climbed over 19% after reporting positive top-line results from phase 3 testing of its Ampion drug candidate, which showed a statistically significant reduction in pain and improved function in adult patients with severe osteoarthritis in their knees compared with patients in the control group receiving intra-articular saline injections.

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