02:09 PM EST, 03/06/2024 (MT Newswires) -- Health care stocks rose Wednesday afternoon with the NYSE Health Care Index adding 0.5% and the Health Care Select Sector SPDR Fund (XLV) up 0.6%.

The iShares Biotechnology ETF (IBB) rose 0.3%.

In corporate news, BiomX ( PHGE ) shares more than doubled after the company agreed to merge with Adaptive Phage Therapeutics to create a phage therapy company.

DexCom ( DXCM ) shares gained 8.4%. The company's prescription-free glucose biosensor Stelo won clearance from the US Food and Drug Administration on Tuesday.

Apogee Therapeutics ( APGE ) jumped 12% as Jefferies raised its price target on the company to $75 from $37 and kept the buy rating.