02:01 PM EDT, 03/25/2024 (MT Newswires) -- Health care stocks were easing Monday afternoon, with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) each shedding about 0.2%.

The iShares Biotechnology ETF (IBB) decreased 0.2%.

In corporate news, Masimo ( MASI ) shares rose 3.5% after an activist investor sought to add two candidates to the health technology company's board, while Masimo ( MASI ) is evaluating a separation of its consumer business.

Landos Biopharma ( LABP ) soared 173% after the company and AbbVie ( ABBV ) said they signed an agreement under which AbbVie ( ABBV ) will acquire the latter for $20.42 per share in cash, or about $137.5 million.

Altamira Therapeutics ( CYTO ) surged 28% after the company said that it's collaborating with Univercells to assess the SemaPhore platform for mRNA vaccine delivery.