Sector Update: Health Care Stocks Mixed in Late Afternoon Trading

Health care stocks were mixed late Thursday afternoon, with the NYSE Health Care Index decreasing 0.1% and the Health Care Select Sector SPDR Fund (XLV) up 0.1%.

The iShares Biotechnology ETF (IBB) was flat.

In corporate news, Clever Leaves CCLVR shares soared 34% after the company said a private investment fund incorporated in Brazil bought an 8.5% stake via open-market deals.

Monte Rosa Therapeutics GLUE said it has priced an underwritten offering of shares and warrants for expected gross proceeds of about $100 million. Its shares added 0.4%.

Biogen BIIB and Ionis Pharmaceuticals IONS said they would cease development of BIIB105 after a phase 1/2 study showed the investigational ALS drug did not slow disease progression. Biogen shares dropped 2.2% and Ionis fell 4.4%.

Trupanion TRUP shares jumped 16% after BofA Securities upgraded the company to buy from neutral.