04:00 PM EDT, 08/16/2024 (MT Newswires) -- Health care stocks were edging higher late Friday afternoon with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) both up 0.2%.

The iShares Biotechnology ETF (IBB) eased 0.1%.

In corporate news, Coherus BioSciences ( CHRS ) shares tumbled 18% after UBS downgraded the stock to neutral from buy and cut its price target to $1.50 from $4.

Maravai LifeSciences ( MRVI ) shares surged 22% after Reuters reported the company received an acquisition offer from Repligen ( RGEN ) . Repligen ( RGEN ) shares dropped 9.8%.

Personalis ( PSNL ) shares jumped 19% after it said that Tempus AI ( TEM ) would invest $36 million in the company as part of an expanded commercial partnership. Tempus AI ( TEM ) shares jumped 8.3%.

Evoke Pharma ( EVOK ) shares rose 2.9% after the company regained compliance with Nasdaq's minimum bid price rules.