Sector Update: Healthcare Stocks Fall Tuesday Afternoon
Healthcare stocks were lower Tuesday afternoon, with the NYSE Healthcare Index down 1.6% and the State Street Health Care Select Sector SPDR ETF (XLV) falling 1.8%. The iShares Biotechnology ETF (IBB) was fractionally lower. 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, Claritev shares fell past 11%. HCA Healthcare (HCA) shares dropped 7.3% after the company lowered its 2026 adjusted diluted EPS guidance. Stephens cut the company's price target to $480 from $500, while keeping its overweight rating. NextCure (NXTC) will merge with privately held Avere Therapeutics in an all-stock deal to advance Avere's lead oral IL-23 therapy, AVR-001, for inflammatory diseases, the company said. NextCure shares surged 200%.
Healthcare stocks were lower Tuesday afternoon, with the NYSE Healthcare Index down 1.6% and the State Street Health Care Select Sector SPDR ETF (XLV) falling 1.8%.
The iShares Biotechnology ETF (IBB) was fractionally lower.
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, Claritev shares fell past 11%.
HCA Healthcare (HCA) shares dropped 7.3% after the company lowered its 2026 adjusted diluted EPS guidance.
Stephens cut the company's price target to $480 from $500, while keeping its overweight rating.
NextCure (NXTC) will merge with privately held Avere Therapeutics in an all-stock deal to advance Avere's lead oral IL-23 therapy, AVR-001, for inflammatory diseases, the company said.
NextCure shares surged 200%.