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Sector Update: Health Care Stocks Lean Lower Premarket Wednesday

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Sector Update: Health Care Stocks Lean Lower Premarket Wednesday

Jul 17, 2024 6:39 AM

09:13 AM EDT, 07/17/2024 (MT Newswires) -- Health care stocks were leaning lower premarket Wednesday, with the Health Care Select Sector SPDR Fund ( XLV ) declining 0.8% and the iShares Biotechnology ETF ( IBB ) down 1.1% recently.

4D Molecular Therapeutics ( FDMT ) rose 8.5% after saying interim data from a phase 2 study showed its 4D-150 experimental therapy was safe and effective in treating patients with wet age-related macular degeneration.

Johnson & Johnson ( JNJ ) reported higher Q2 adjusted earnings and net sales but lowered its full-year adjusted earnings forecast. Johnson & Johnson ( JNJ ) was down 0.2% pre-bell.

Elevance Health ( ELV ) said it expects full-year 2024 adjusted earnings to be at least $37.20 per share. Analysts polled by Capital IQ expect $37.28. Elevance Health ( ELV ) was down more than 3% premarket.

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