Sector Update: Healthcare Stocks Fall Late Afternoon
Healthcare stocks fell late Tuesday afternoon with the NYSE Healthcare Index declining 1.7% and the State Street Health Care Select Sector SPDR ETF (XLV) dropping 1.9%.The iShares Biotechnology ETF (IBB) shed 0.4%.In corporate news, the US Justice Department recently sent civil investigative demands, which are similar to subpoenas, to lawyers for a group of hospitals and doctor groups suing Claritev (CTEV) for alleged antitrust violations, Bloomberg reported. Claritev shares fell 5.1%.HCA Healthcare (HCA) shares dropped 7.2% after the company lowered its 2026 adjusted diluted EPS guidance. Stephens cut its price target on the stock to $480 from $500, while keeping its overweight rating.IM8, a nutritional supplements company co-founded by Prenetics Global (PRE) and David Beckham, has lined up about $1 billion in growth financing from General Catalyst, Bloomberg reported. Prenetics shares jumped 17%.NextCure (NXTC) shares almost tripled after the company agreed to merge with privately held Avere Therapeutics in an all-stock deal.
