Sector Update: Health Care Stocks Advance Late Afternoon

04:02 PM EDT, 08/29/2024 (MT Newswires) -- Health care stocks were rising late Thursday afternoon with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) each adding 0.3%.

The iShares Biotechnology ETF (IBB) rose 0.7%.

In corporate news, XORTX Therapeutics (XRTX) shares soared 131% after the company said that recent peer-reviewed, independent research shows genetic factors are linked to the over-expression of xanthine oxidase and play a role in several diseases, including kidney disease. The findings support the company's approach to treating kidney and other diseases by inhibiting XO.

Cooper (COO) shares jumped nearly 12% after the company reported higher fiscal Q3 non-GAAP earnings and revenue.

Adaptive Biotechnologies (ADPT) shares gained 3.6% after it said its clonoSEQ minimal residual disease test in lymphoid malignancies got In Vitro Diagnostics Regulation class C certification in the EU.

Grifols (GRFS) shares rose 1.1%. Brookfield Asset Management (BAM) is courting multiple investment funds to join its effort to acquire the Spanish blood-plasma company, Bloomberg reported. Brookfield declined 0.3%.