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Health Care Sector Update for 02/08/2019: INGN,BIOC,QURE,SGEN


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Top Health Care Stocks

JNJ flat

PFE +0.25%

ABT +0.9%

MRK +0.7%

AMGN +0.5%

Health care stocks were rebounding in afternoon trade, climbing from deeper declines recorded earlier, including a slightly more than 0.2% decline for the NYSE Health Care Index in recent trade. Shares of health care companies in the S&P 500 also were down just over 0.1% as a group while the Nasdaq Biotechnology index managed a 0.3% gain.

Among health care stocks moving on news:

(-) Inogen ( INGN ) fell Friday, slipping over 1%, after a short-seller issued a negative research report about the Chinese health care concern, accusing the company of using "misleading statements and creating a "false narrative" to inflate the potential market for its portable oxygen tanks.

In other sector news:

(+) UniQure ( QURE ) climbed 8% on Friday after i t report ed more positive data for its AMT-061 investigational gene therapy for moderate to severe hemophilia B. The data indicated all three patients in the phase IIb trial continued to produce a blood-clotting protein at levels of up to 51% above normal for up to 16 weeks after AMT-061 was administered.

(-) Seattle Genetics ( SGEN ) dropped 12% on Friday after the specialty drugmaker said its adjusted Q4 net loss fell to $0.75 per share compared with a $0.41 per share loss during the year-ago quarter and missed analyst projections by $0.32 per share.

(-) Biocept ( BIOC ) tumbled 48% after the liquid biopsy company solutions earlier Friday priced a $7.5 million public offering of 6.3 million shares at $1.20 apiece, representing a 40.9% discount to Thursday's closing price for its stock. Investors in the deal also received five-year warrants to buy up to 6.3 million additional shares also at $1.20 each.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.





This article appears in: Investing , US Markets
Referenced Symbols: INGN , QURE , SGEN , BIOC



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