03:52 PM EST, 02/05/2025 (MT Newswires) -- Health care stocks advanced late Wednesday afternoon with the NYSE Health Care Index rising 1.2% and the Health Care Select Sector SPDR Fund (XLV) up 1%.

The iShares Biotechnology ETF (IBB) climbed 2.5%.

In corporate news, GeneDx ( WGS ) shares fell 6.5 % following a report by short seller Grizzly Research alleging that the company is inflating revenue.

Acrivon Therapeutics ( ACRV ) shares jumped 18% after the US Food and Drug Administration granted its ACR-368 OncoSignature Assay Breakthrough Device designation.

Boston Scientific ( BSX ) reported stronger-than-expected Q4 sales on a jump in the cardiovascular segment. The stock rose 1.3%.

UnitedHealth ( UNH ) shares fell 1% following a now-deleted post from investor Bill Ackman on X questioning the company's profitability and saying that he would short its stock, Bloomberg reported.