ALLK

Health Care Sector Update for 01/17/2024: ALLK, KKR, PRPO, NTRA

Health care stocks were declining in late Wednesday afternoon trading, with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) each down 0.3%.

The iShares Biotechnology ETF (IBB) fell 1%.

In corporate news, Allakos (ALLK) shares slumped more than 11% following analyst downgrades in the wake of a setback in the trials of lirentelimab in people with atopic dermatitis and chronic spontaneous urticaria.

KKR-backed (KKR) BrightSpring Health Services said Wednesday it has launched its initial public offering, with a listing expected on the Nasdaq Global Select Market. KKR shares were shedding 0.5%.

Precipio (PRPO) jumped 16% after the company signed an agreement with a Japanese distributor to sell its products in Japan.

Natera (NTRA) gained 7.3%. The company said it plans to file an appeal after a jury reached a verdict in the US District Court for the Western District of Texas over a patent infringement lawsuit brought by Ravgen.

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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