03:53 PM EDT, 06/01/2026 (MT Newswires) -- Healthcare stocks declined late Monday afternoon, with the NYSE Healthcare Index falling 1.4% and the State Street Health Care Select Sector SPDR ETF (XLV) dropping 1.1%.

The iShares Biotechnology ETF (IBB) shed 1.4%.

In corporate news, Cardiff Oncology ( CRDF ) shares tumbled past 21% after HC Wainwright downgraded the stock to neutral from buy, and TD Cowen to hold from buy.

GRAIL (GRAL) stock dropped 9.7% after the company said the NHS-Galleri trial of its Galleri multi-cancer early detection test missed its primary endpoint.

Jasper Therapeutics ( JSPR ) shares tumbled 32% after the firm said its board has launched a review of strategic alternatives, including a sale of assets, a sale of the company, merger, or an orderly wind-down of operations.

Edgewise Therapeutics ( EWTX ) has agreed to sell its muscular dystrophy business to Servier for up to $2.65 billion, Servier said Monday. Edgewise shares jumped past 13%.