Health Care ETFs Have Lost In The Last Month - These Top Pharma Stocks Are The Reason

Author: Vandana Singh | March 07, 2023 08:34pm

• The Health Care Select Sector SPDR Fund (NYSE:XLV), heavily tilted towards mega-caps, lost around 5.25% over the last month, with substantial companies reporting annual earnings.
• Shares of Health Care Select Sector SPDR Fund opened at $129.26 on Monday, with a twelve-month low of $118.75 and a twelve-month high of $143.42. YTD shares lost 6.54%.
• Top holding companies Merck & Co Inc (NYSE:MRK), AbbVie Inc (NYSE: ABBV), Eli Lilly And Co (NYSE: LLY), Thermo Fisher Scientific Inc (NYSE: TMO), Abbott Laboratories (NYSE: ABT), and Bristol Meyers Squibb & Co (NYSE: BMY) reported their Q4 earnings during the month.
• Over the month, Lilly stock lost 5.5%, Thermo Fisher fell 2.45%, Abbott lost 6.54%, Bristol Myers slipped 7.2%, while Merck shares gained 6.28%, and AbbVie jumped 7.2%. 
• Over one month, iShares Biotechnology ETF (NYSE:IBB) shares have fallen 4.3%, with stock opening at $130.27.
• Today, Aclaris Therapeutics Inc (NASDAQ:ACRS) was retreating nearly 40% after zunsemetinib did not meet its primary and secondary efficacy endpoints. 
• Adaptimmune Therapeutics Inc (NASDAQ:ADAP) and TCR2 Therapeutics Inc (NASDAQ:TCRR) agreed to merge. 
• TCR2 was rising over 25% in value, while Adaptimmune Therapeutics was down more than 20%.
• BridgeBio Pharma Inc (NASDAQ:BBIO) shares are gaining over 50% after positive data from the PROPEL2 Phase 2 trial of infigratinib in the form of dwarfism.
• Price Action: XLV shares closed down 1.60% at $127.04, and IBB closed down 1.59% at $127.25 on Tuesday.

Posted In: ABBV ABT ACRS ADAP BBIO BMY IBB LLY MRK TCRR TMO XLV