Sector Update: Health Care Stocks Mixed Tuesday Afternoon

Diana Shipping has extended the time charter contract for its m/v Amphitrite dry bulk vessel, with Cobelfret agreeing to a gross daily rate of $8,750 over the first 50 days of the contract and rising to $12,100 per day for the remaining term, minus a 5% commission.

Shares of the cargo shipping transportation services company slid 1.6%. Trading volume was light, with over 170,000 shares exchanged compared with a daily average of about 703,000 shares.

Enanta Pharmaceuticals said Tuesday it plans to appeal a summary judgment issued in federal court in Massachusetts that invalidated Enanta's patent claim related to Pfizer's Paxlovid COVID-19 antiviral medication and denied its motion for partial summary judgment on infringement as moot.

Enanta shares were trading about 4% lower, partially recovering from a 10% slide earlier in the session. More than 203,000 shares have traded during the session compared with a daily average of around 280,000 shares.

Legend Biotech said Tuesday that Lori Macomber will step down as chief financial officer at the biopharmaceuticals company on Jan. 2, citing personal reasons, and will be succeeded on an interim basis by Jessie Yeung.

Legend shares were slipping 4.4% to $32.43 each in recent trading, earlier falling 5.5% to $32.08 a share. Volume was muted, with around 680,000 shares exchanged on Tuesday compared with a daily average of almost 1.5 million shares.

Carbon Revolution late Monday said it reached an agreement with Orion Infrastructure Capital for an extra $25 million in funding that will be distributed in five equal tranches.

Carbon Revolution shares were up 120% in recent trading. Trading volume was sharply higher, with around 24.6 million shares exchanged with about one hour left in the holiday-shortened session compared with a daily average of around 81,100 shares.

NeueHealth late Monday agreed to be acquired and taken private by an affiliate of New Enterprise Associates through a transaction that values the embedded pharmacy, laboratory, radiology services company at around $1.3 billion.

NeueHealth shares recently were gaining over 68%. Trading volume recently had reached nearly 670,000 shares compared with the daily average of around 10,200 shares.

Clearmind Medicine has received approval from Yale University to begin a phase 1/2a clinical trial of its CMND-100 drug candidate to treat alcohol-use disorder.

Clearmind Medicine shares were over 37% higher in recent trading. Volume was running significantly higher than usual, with more than 50.1 million shares traded so far on Tuesday compared with a daily average of around 266,000 shares.

US stocks look set to open mixed in Tuesday's shortened trading session, ahead of the Christmas holiday Wednesday when markets will be closed.

The Dow Jones Industrial Average futures were off 0.05%, S&P 500 futures were up 0.16%, and Nasdaq futures were rising 0.33%.

Oil prices were moving higher, with front-month global benchmarks Brent crude and West Texas Intermediate crude rising 0.77% and 0.98% respectively.

In other world markets, Japan's Nikkei was off 0.32%, Hong Kong's Hang Seng rose 1.08%, and China's Shanghai Composite climbed 1.26%. Meanwhile in Europe's early afternoon session, the UK's FTSE 100 was moving 0.42%, France's CAC was up 0.14%, while the DAX was closed for the Christmas holiday.

In equities, shares of Carbon Revolution soared 188% in Tuesday's premarket session after it said late Monday that it reached an agreement under which Orion Infrastructure Capital will provide an additional $25 million in financing to be disbursed in five equal tranches. Avinger shares shot up 138% in Tuesday's premarket session, adding to Monday's 33% gain. Baosheng Media Group's stock jumped 88%, adding to a 9.5% gain the previous session. Clearmind Medicine shares advanced 87% after the pharmaceutical company said it has received approval from Yale University for a phase 1/2a clinical trial of CMND-100 in alcohol use disorder. And NeueHealth (NEUE) stock rose 65% after it said Monday that it agreed to be acquired and taken private by an affiliate of New Enterprise Associates for an enterprise value of about $1.3 billion.

On the losing side, shares of Sol-Gel Technologies plunged 44% after skyrocketing 285% on Monday. Check-Cap (CHEK) shares tumbled 26% after surging 270% the previous session. Great Lakes Dredge & Dock shares shed 22%, adding to a 1.5% loss the previous session. Profound Medical fell 14% on top of a 3.5% loss on Monday. My Size stock dropped 13%, erasing Monday's 12% gain. And shares of Dogwood Therapeutics (DWTX) lost 12%, eating into its 16% gain the previous session.

Health care stocks were mixed pre-bell Tuesday as the Health Care Select Sector SPDR Fund was up 0.1% and the iShares Biotechnology ETF was 0.4% lower recently.

Clearmind Medicine shares surged past 65% after the company said it has received Institutional Review Board approval from Yale University for a phase 1/2a clinical trial of CMND-100 in alcohol use disorder.

NeueHealth's shares soared by over 63% after the company said overnight it agreed to be acquired and taken private by an affiliate of New Enterprise Associates for an enterprise value of about $1.3 billion.

Mynaric AG shares were up over 11% after the company said it secured a $5 million loan following an amendment to its loan agreement with US-based lenders.

Health care stocks were mixed pre-bell Tuesday as the Health Care Select Sector SPDR Fund (XLV) was up 0.1% and the iShares Biotechnology ETF (IBB) was 0.3% lower recently.

Clearmind Medicine shares surged past 85% after the company said it received Institutional Review Board approval from Yale University for the phase 1/2a clinical trial of CMND-100 in alcohol use disorder.