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Sector Update: Healthcare Stocks Advance Late Afternoon

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Healthcare stocks were higher late Friday afternoon, with the NYSE Healthcare Index rising 1.3% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 1.4%.

The iShares Biotechnology ETF (IBB) gained 1.5%.

In corporate news, Jupiter Neurosciences (JUNS) shares surged past 16% after it said it priced a direct offering of 307,692 shares for gross proceeds of $2 million.

Johnson & Johnson (JNJ) shares rose 1.3% after the firm said Friday Tecvayli plus daratumumab has been approved by the European Commission to treat adults with relapsed or refractory multiple myeloma.

Arbutus Biopharma (ABUS) shares jumped past 9% after the firm said it plans to launch a tender offer to repurchase up to $230 million of its shares at between $5.00 and $5.75 per share.

Health Catalyst (HCAT) shares fell 4.6% after Canaccord Genuity downgraded the stock to hold from buy and cut its price target to $1.80 from $3.

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