Sector Update: Health Care Stocks Rise Friday But Trail Most Other Sectors

Last Updated: Friday, May 14, 2021 4:03 PM | MT Newswires

Health care stocks were moderately higher compared with most other sectors this afternoon, with the NYSE Health Care Index and the SPDR Health Care Select Sector ETF rising 0.6% each.

The Nasdaq Biotechnology index was climbing 2.2% in late regular-hours trade.

In company news, Solid Biosciences (SLDB) slumped nearly 22% after Friday saying a patient with Duchenne muscular dystrophy who was dosed with its SGT-001 experimental gene therapy last month experienced a drug-related inflammatory response that was classified as a serious adverse event.

AbCellera Biologics (ABCL) fell 7.5% after the company reported Q1 net income of $0.37 per share, reversing a $0.01 per share net loss during the same quarter last year but still missing the Capital IQ consensus by $0.01 per share.

To the upside, Haemonetics (HAE) climbed 7.7% after a CJS Securities upgrade of the company to outperform from market perform.

Fate Therapeutics (FATE) rose 7.3% after reporting encouraging interim data from phase I testing of its natural killer cells in patients with relapsed/refractory acute myeloid leukemia, with four of the nine patients in the FT516 monotherapy study showing objective responses and complete leukemic blast clearance from their bone marrow.

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