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Sector Update: Health Care Stocks Softer in Afternoon Trading
2024-08-23 01:58
- Cyclo Therapeutics Inc Ordinary Shares - Class A(CYTH) 0
- Evolent Health(EVH) 0
- Rafael Holdings, Inc. Class B(RFL) 0
01:58 PM EDT, 08/22/2024 (MT Newswires) -- Health care stocks were lower Thursday afternoon, with the NYSE Health Care Index marginally lower and the Health Care Select Sector SPDR Fund (XLV) shedding 0.4%.
The iShares Biotechnology ETF (IBB) fell past 1%.
In corporate news, Evolent Health (EVH) shares jumped 15%. The company is holding talks with private equity firms and other companies over a potential sale after receiving interest, Reuters reported Thursday.
Rafael (RFL) has agreed to merge with Cyclo Therapeutics (CYTH), the companies said. Cyclo shares tumbled 27% and Rafael spiked 3%.
Stryker (SYK) shares were rising 1.1% after the company said Thursday it has agreed to buy Vertos Medical.
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