Health Care Sector Update for 08/12/2019: SOLY,MLND,ORGS,BLUE

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Top Health Care Stocks

JNJ +0.08%

PFE -2.57%

ABT -2.26%

MRK -0.20%

AMGN +4.73%

Health care stocks dropped Monday, including a more than 1.1% decline for the NYSE Health Care Index while the shares of health care companies in the S&P 500 also were down around 1.0% as a group. The Nasdaq Biotechnology index was falling just under 1.3%.

Among health care stocks moving on news:

(+) Soliton ( SOLY ) was more than 21% higher in late Monday trading after the medical device company said it has begun enrolling participants for a phase III trial of its Soliton Rapid Acoustic Pulse device as a potential cellulite treatment. Soliton is expecting to enroll around 60 patients across its four test sites in Boston, Chicago, Washington, D.C. and Scottsdale, Ariz.

In other sector news:

(-) Millendo Therapeutics ( MLND ) was 1% lower in late trade, reversing a prior gain that followed the specialty drugmaker Monday reporting a Q2 net loss of $0.74 per share but still beating the Capital IQ consensus expecting an $0.86 per share net loss for the three months ended June 30. Millendo had no revenue during the quarter, as expected.

(-) Orgenesis ( ORGS ) turned more than 3% lower this afternoon, giving back a 3% advance earlier Monday after the biotechnology company reported a 95% increase in Q2 revenue over year-ago levels to $7.8 million.

(-) bluebird bio ( BLUE ) fell over 5% after William Blair lowered its rating on the genetic therapies company to market perform from outperform previously.

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

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This article appears in: Investing , US Markets
Referenced Symbols: SOLY , MLND , ORGS , BLUE

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