Sector Update: Health Care

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Health care stocks declined Wednesday afternoon, with the NYSE Health Care Index and the State Street Health Care Select Sector SPDR ETF (XLV) each falling 1.2%.

The iShares Biotechnology ETF (IBB) dropped 1.6%.

In corporate news, Soleno Therapeutics (SLNO) is expected to see a slower US launch for Vykat XR, but 2026 sales could still beat expectations, Oppenheimer said in a note. Oppenheimer reiterated its outperform rating on Soleno Therapeutics, while cutting the company's price target to $80 from $110. Soleno shares were down 1%.

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