03:56 PM EDT, 09/06/2024 (MT Newswires) -- Health care stocks declined late Friday afternoon, with the NYSE Health Care Index easing 0.1% and the Health Care Select Sector SPDR Fund (XLV) down 0.3%.

The iShares Biotechnology ETF (IBB) fell 1.3%.

In corporate news, Organon (OGN) shares dropped 3.7% after JPMorgan downgraded the company's stock to underweight from neutral.

Vor Biopharma ( VOR ) shares jumped 9%, a day after the company said new data from a phase 1/2 trial of patients with acute myeloid leukemia treated with trem-cel followed by Mylotarg validated its approach of "using shielded transplants" in delivering targeted therapies.

Psyence Biomed (PBM) shares tumbled 18%. The company signed a conditional binding term sheet for the proposed acquisition of Clairvoyant Therapeutics.

Travere Therapeutics ( TVTX ) shares spiked 11%. Wedbush raised its price target on the stock to $19 from $16. The US Food and Drug Administration granted full approval for the company's Filspari to treat primary IgA nephropathy.