01:57 PM EDT, 06/06/2024 (MT Newswires) -- Health care stocks rose Thursday afternoon with the NYSE Health Care Index rising 0.2% and the Health Care Select Sector SPDR Fund (XLV) up 0.1%.

The iShares Biotechnology ETF (IBB) eased 0.2%.

In corporate news, Vanda Pharmaceuticals ( VNDA ) shares surged nearly 23% after the company said it received an unsolicited and non-binding indication of interest from closely held Cycle Group, the parent company of Cycle Pharmaceuticals, offering to buy all of Vanda's outstanding shares for $8 a share.

Seres Therapeutics ( MCRB ) shares were falling past 14% after it said Thursday that it signed a non-binding memorandum of understanding to sell its Vowst microbiome therapy and related intellectual property rights to Nestle Health Science.

LivaNova ( LIVN ) dropped 11% after it said Thursday that a study assessing its Vagus Nerve Stimulation therapy for treatment-resistant depression in unipolar patients didn't meet its primary endpoint.