03:56 PM EDT, 04/02/2024 (MT Newswires) -- Health care stocks fell late Tuesday afternoon with the NYSE Health Care Index down 1.5% and the Health Care Select Sector SPDR Fund (XLV) dropping 1.6%.

The iShares Biotechnology ETF (IBB) fell 2.2%.

In corporate news, Acorda Therapeutics ( ACOR ) shares plunged 82%, a day after the company agreed to sell substantially all of its assets to Merz Therapeutics for $185 million.

Humana (HUM) shares tumbled 13%, UnitedHealth ( UNH ) dropped 6.5% and CVS Health ( CVS ) declined 7.3% following the Centers for Medicare and Medicaid Services' declaration of a 3.7% average revenue boost for Medicare Advantage plans in 2025.

Verve Therapeutics ( VERV ) shares fell 36% after the company paused enrollment in its Heart-1 trial after seeing "laboratory abnormalities" in one participant.

Evaxion Biotech ( EVAX ) said three studies showed antigens from its preclinical EVX-B1 vaccine candidate significantly protected large, non-rodent animals against surgical site infections caused by Staphylococcus aureus. Its shares jumped 18%.