03:57 PM EDT, 06/05/2025 (MT Newswires) -- Health care stocks were mixed late Thursday afternoon, with the NYSE Health Care Index up 0.2% and the Health Care Select Sector SPDR Fund (XLV) decreasing 0.2%.

The iShares Biotechnology ETF (IBB) shed 0.3%.

In corporate news, Senate Republicans are mulling a reduction in Medicare spending as they look for savings to fund President Donald Trump's "One Big Beautiful Bill Act," Bloomberg reported. The move includes reducing payments to health insurance companies that run private Medicare plans. A policy shift could affect insurers like CVS Health ( CVS ) , Humana (HUM) and UnitedHealth Group ( UNH ) . Shares of CVS, Humana and UnitedHealth ( UNH ) were down 1%, 1.6% and 1.5%, respectively.

Johnson & Johnson ( JNJ ) remains focused on its oncology franchise with a strong drug pipeline to treat cancer and other diseases, RBC Capital Markets said. The shares added 0.2%.

Silo Pharma ( SILO ) shares jumped past 10% after the company's board approved buying up to $1 million in bitcoin as a treasury reserve asset.

ImmunoPrecise Antibodies ( IPA ) shares surged 23% after the company discovered a "highly conserved epitope" in all four dengue virus serotypes using its LENSai platform.

Maia Biotechnology ( MAIA ) shares jumped past 10% after data from a phase 2 trial showed that treatment with its ateganosine extended median overall survival for people with lung cancer.