Health-care companies fell, but not by as much as the broad market, as traders rotated into sectors less sensitive to inflation and fuel costs.
Health-care sector fell less than market as traders rotated to defensive assets; Tyra Biosciences crashed on disappointing clinical trial results. Macro rotation to defensive sectors and trial-driven biotech volatility signal budget stability but highlight vendor and partnership risks in life-sciences.
Health-care companies fell, but not by as much as the broad market, as traders rotated into sectors less sensitive to inflation and fuel costs.
Tyra Biosciences fell sharply after the performance of a bladder-cancer drug candidate in a mid-stage clinical trial disappointed investors.
Johnson & Johnson, which is also developing a bladder-cancer treatment, fell slightly.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
Health-care companies fell, but not by as much as the broad market, as traders rotated into sectors less sensitive to…
Health-care companies were more or less flat as traders rotated into the defensive sector ahead of jobs data.
Health-care companies fell as traders rotated out of defensive sectors and back into the tech sector.
Health-care companies rose as traders rotated back into sectors that are less sensitive to shifts in inflation and oil prices.
Health-care companies ticked down as traders rotated out of defensive sectors into technology companies.
Health-care companies fell, but not by much, as traders continued rotating out of tech into lagging sectors.
