Sector Update: Health Care Stocks Mixed Late Afternoon

Health care stocks were mixed late Friday afternoon, with the NYSE Health Care Index fractionally lower and the Health Care Select Sector SPDR Fund (XLV) adding 0.1%.

The iShares Biotechnology ETF (IBB) fell 0.5%.

In corporate news, Marinus Pharmaceuticals MRNS shares gained 3% after the firm completed enrollment in a phase 3 trial of oral ganaxolone for the treatment of seizures associated with tuberous sclerosis complex in children and adults.

Regeneron Pharmaceuticals REGN shares added 1.2% after Jefferies raised its price target to $1,115 from $1,060.

Moderna MRNA won a favorable decision in its COVID-19 vaccine dispute with Pfizer PFE and BioNTech BNTX from the European Patent Office's Opposition Division, upholding the validity of one of two disputed patents, the Financial Times reported. Moderna shares added 0.1%, Pfizer fell 1% and BioNTech dropped 2.4%.

Arbutus Biopharma ABUS investor, Whitefort Capital Management, urged the firm in an open letter to stop further share issuances and explore strategic alternatives for its hepatitis B portfolio. Arbutus shares popped 3%.