Sector Update: Healthcare Stocks Softer Late Afternoon
Healthcare stocks were lower late Monday afternoon, with the NYSE Healthcare Index down 0.3% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 0.2%.The iShares Biotechnology ETF (IBB) added 1.8%.In corporate news, OmniAb (OABI) unveiled a partnership with Eli Lilly (LLY) on a new ion-channel drug discovery program, while raising its fiscal 2026 cash and cash equivalents guidance. OmniAb shares jumped nearly 13%, and Lilly was up 0.4%.Freenome (FRNM) shares surged past 12% after Jefferies initiated coverage of the stock with a buy rating and a price target of $17.Argenx (ARGX) shares climbed 16% after the company said a phase 3 study evaluating its experimental drug Vyvgart Hytrulo in adults with autoimmune myositis met its main goal.EyePoint (EYPT) shares tumbled 67% after it said its phase 3 Lugano trial testing Duravyu in people with wet age-related macular degeneration failed to achieve its primary endpoint.
