Evolent Health Explores Sale, Garners Inbound Interest From Private Equity Firms

Health care stocks rose premarket Friday, with The Health Care Select Sector SPDR Fund up 0.3% and the iShares Biotechnology ETF 0.2% higher.

Galapagos shares were up more than 4% after the company said the US Food and Drug Administration has approved an investigational new drug application for the study of its experimental therapy, GLPG5101, in patients with relapsed/refractory non-Hodgkin lymphoma.

Moderna shares were over 1% higher after the company said it has secured the European Commission's marketing approval for its respiratory syncytial virus, or RSV, vaccine, mRESVIA, to safeguard adults aged at least 60 years against lower respiratory tract disease resulting from the RSV infection.

Evolent Health is holding talks with private equity firms and other companies over a potential sale after receiving interest, Reuters reported, citing people familiar with the matter. Evolent Health shares were up 0.7% pre-bell.

Health care stocks were mixed late Thursday afternoon, with the NYSE Health Care Index increasing 0.1% and the Health Care Select Sector SPDR Fund (XLV) easing 0.1%.

The iShares Biotechnology ETF (IBB) fell 1%.

In corporate news, the US Food and Drug Administration approved and granted emergency use authorization for updated mRNA COVID-19 vaccines manufactured by Moderna and Pfizer . Moderna was falling 5.7%, and Pfizer was down 1%.

Evolent Health shares jumped past 13%. Evolent is holding talks with private equity firms and other companies over a potential sale after receiving interest, Reuters reported Thursday.

Rafael has agreed to merge with Cyclo Therapeutics , the companies said. Cyclo shares tumbled nearly 29% and Rafael spiked 3.7%.

Stryker shares were rising 1.3% after the company said Thursday it has agreed to buy Vertos Medical.

Health care stocks were lower Thursday afternoon, with the NYSE Health Care Index marginally lower and the Health Care Select Sector SPDR Fund (XLV) shedding 0.4%.

The iShares Biotechnology ETF (IBB) fell past 1%.

In corporate news, Evolent Health shares jumped 15%. The company is holding talks with private equity firms and other companies over a potential sale after receiving interest, Reuters reported Thursday.

Rafael has agreed to merge with Cyclo Therapeutics , the companies said. Cyclo shares tumbled 27% and Rafael spiked 3%.

Stryker shares were rising 1.1% after the company said Thursday it has agreed to buy Vertos Medical.