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Sector Update: Health Care

May 10, 2024 12:45 PM

03:28 PM EDT, 05/10/2024 (MT Newswires) -- Health care stocks rose late Friday afternoon with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) each increasing 0.3%.

The iShares Biotechnology ETF (IBB) added 0.1%.

In corporate news, MacroGenics ( MGNX ) shares plunged 77% after the company said five patients died in the mid-stage study of its experimental drug to treat a type of prostate cancer. BMO downgraded the stock to market perform from outperform with a price target of $8. Stifel and TD Cowen also downgraded the shares.

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