Sector Update: Health Care Stocks Steady to Higher Pre-Bell Wednesday

MT Newswires Live

03-19

Health care stocks were steady to higher premarket Wednesday, with The Health Care Select Sector SPDR Fund (XLV) up 0.2% and the iShares Biotechnology ETF (IBB) unchanged.

HealthEquity (HQY) shares were down 15% after the company reported overnight fiscal Q4 non-GAAP earnings that trailed analysts' estimates.

Hutchmed (HCM) and Innovent Biologics said late Tuesday that a phase II/III clinical trial of fruquintinib in combination with sintilimab as a second-line treatment for renal cell carcinoma in China met its primary endpoint of progression free survival. Hutchmed stock was 3.2% higher pre-bell Wednesday.

Concentra (CON) shares were up 3.6% after the company said overnight it opened a new medical center in Waukegan, Illinois.

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