Sector Update: Health Care Stocks Rise in Late Afternoon Trading

MT Newswires Live03-01

Health care stocks rose late Friday afternoon, with the NYSE Health Care Index up 0.5% and the Health Care Select Sector SPDR Fund (XLV) adding 0.7%.

The iShares Biotechnology ETF (IBB) was 0.9% higher.

In corporate news, BioXcel Therapeutics (BTAI) shares jumped 24% after the company regained compliance with Nasdaq's minimum closing bid price rule.

Owens & Minor (OMI) shares surged 40% after it reported better-than-expected quarterly results and a share buyback plan Friday.

DocGo (DCGO) shares fell past 21% after the company reported a Q4 net loss, surprising analysts who expected a profit.

Praxis Precision Medicines (PRAX) shares dropped 41%. An independent data monitoring committee overseeing the company's study 1 of the Essential3 program of ulixacaltamide in essential tremor recommended that the study be "stopped for futility."

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