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Sector Update: Healthcare Stocks Decline Late Afternoon

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Healthcare stocks were lower late Friday afternoon, with the NYSE Healthcare Index decreasing 0.4% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 0.5%.

The iShares Biotechnology ETF (IBB) lost 0.5%.

In corporate news, Luigi Mangione is expected to plead guilty to federal charges related to the killing of former UnitedHealth (UNH) executive Brian Thompson, according to his lawyer, multiple media outlets reported Friday. UnitedHealth shares were up 0.8%.

Valneva (VALN) shares jumped 25% after the company and Pfizer (PFE) said the European Medicines Agency validated their marketing authorization application for their Lyme disease vaccine candidate, starting the regulatory review process. Pfizer shares were fractionally lower.

Eton Pharmaceuticals (ETON) shares surged 41%. The company late Thursday reported Q2 adjusted earnings and revenue above market expectations and raised full-year 2026 sales guidance.

Zentalis Pharmaceuticals (ZNTL) shares fell past 12% in Friday trading, a day after the company priced an offering of 23 million shares at $3.50 each, targeting about $80.5 million in gross proceeds.

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