Health Care Sector Update for 05/03/2024: AEON, MODV, AMGN, TWST

Health care stocks were mixed late Friday afternoon with the NYSE Health Care Index shedding 0.2% and the Health Care Select Sector SPDR Fund (XLV) rising 0.2%.

The iShares Biotechnology ETF (IBB) climbed 1.7%.

In corporate news, AEON Biopharma (AEON) shares plunged 48% after its preventive treatment for chronic migraine, ABP-450, failed to meet the primary endpoint of a phase 2 trial.

ModivCare (MODV) shares surged 22% in recent Friday trading, a day after the company reported a higher net service revenue in Q1.

Amgen (AMGN) shares climbed nearly 12% after the company's Q1 adjusted earnings outpaced forecasts as sales jumped from a year ago.

Twist Bioscience (TWST) shares jumped 28% in recent trading, a day after the company reported fiscal Q2 results that topped estimates and increased its revenue outlook for fiscal 2024.

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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