Health care stocks declined late Thursday afternoon, with the NYSE Health Care Index shedding 0.4% and the Health Care Select Sector SPDR Fund (XLV) down 0.3%.

The iShares Biotechnology ETF (IBB) rose 0.4%.

In corporate news, Taysha Gene Therapies (TSHA) shares surged 53% after the company said its TSHA-102 in Rett syndrome was granted breakthrough therapy designation by the US Food and Drug Administration.

Bolt Biotherapeutics (BOLT) shares dropped nearly 10%, a day after the company said it plans to shed 50% of its staff to save cash.

Humana (HUM) shares rose 4.2% after the company reported preliminary 2026 Medicare Advantage Star Ratings and reaffirmed its earnings outlook for fiscal 2025.

Anavex Life Sciences (AVXL) said its phase 1b trial comparing a modified-release tablet of its Anavex 3-71 formulation with its current immediate-release oral capsule met its primary endpoints of safety and tolerability in male and female participants 18 years old and older with schizophrenia. The stock rose 1.6%.