Health Care Sector Update for 11/16/2022: DNA, ALC, NTRA

Health care stocks were edging higher this Wednesday afternoon, with the NYSE Health Care Index and the SPDR Health Care Select Sector ETF (XLV) both climbing 0.2%. The iShares Biotechnology ETF (IBB), however, was slipping 0.5%.

In company news, Ginkgo Bioworks (DNA) slid nearly 12% after the cell programming company Wednesday began a $100 million public offering of its class A shares through BTIG as its bookrunner.

Alcon (ALC) added 5.2% after the eye care products company reported core Q3 net income of $0.50 per share, down from $0.54 per share during the same quarter last year but still exceeding the Capital IQ consensus by $0.01 per share.

Natera (NTRA) rose almost 11% after the molecular diagnostics company priced a $400 million follow-on offering of more than 11.4 million shares at $35 apiece, or 2.4% above Tuesday’s closing price.

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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