Sector Update: Health Care Stocks Struggling for Direction

Last Updated: Friday, July 1, 2022 2:07 PM | MT Newswires

Health care stocks were mixed this afternoon, with the NYSE Health Care Index sinking 0.1% while the SPDR Health Care Select Sector ETF (XLV) was up 0.2%.

The Nasdaq Biotechnology index was climbing 1.0%.

In company news, Agile Therapeutics (AGRX) plunged over 43%, staying within close range of its nearly 48% slide to a record low of $0.61 a share after the drug maker priced an upsized $24 million public offering of nearly 26.7 million shares at $0.90 apiece, or almost 23% under Thursday's closing price. Investors also received an equal number of five-year warrants to buy another share exercisable at $0.90 per share along with 13-month warrants also exercisable at $0.90 per share.

AstraZeneca (AZN) slipped 1% after Friday reporting positive results from a pair of phase III trials of combinations of its Imfinzi drug candidate, with the experimental therapy meeting its primary endpoints in patients with liver and biliary tract cancers.

Certara (CERT) rose 2.2% after Piper Sandler began coverage of the biosimulation company with an overweight stock rating and a $28 price target.

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