March 18, 2021 8:02am
The pre-market moves come after a late-day equity market pop during Fed Chair Powell’s remarks
Pre-open indications: 3 BUYs and 4 SELLs; Mentioned: BSTG, ALNY, SDBB, AGTC, CRSP, EDIT, SGMO
RMi’s daily report is a primer that may say little or a lot; yet it serves as insurance that all indications are being examined and evaluated.
Dow futures are DOWN -0.10% (-33 points), S&P futures are DOWN -0.74% (-29 points) and NASDAQ futures are DOWN -1.65% (-218 points)
U.S. stock futures are mixed and about to clip the wings of Thursday’s open
European stocks moved slightly higher
Asia-Pacific markets broadly advanced as investors reacted to the U.S. Fed’s decision after the U.S. Fed’s policymaking committee overnight voted to keep short-term borrowing rates near zero
Data Docket: jobless claims data
Henry’omics:
The real question of today’s action comes down to one word … expectation … after the last few days of Washington’s view of/for the country …
Yesterday, the Nasdaq fell -1.5% yet, ended the day 0.4% higher.
In comparison, our universe of cell and gene therapy companies; opened negative (Wednesday) with an Advance/Decline line of 5/28, 1 flat and 1 acquired and closed positive at 25/8, 1 flat and 1 acquired;
Wednesday’s evening’s recap: “sector pops as markets slogs higher; our universe of cell and gene therapy jumped from the downside as the Fed ensured economic recovery” … https://www.regmedinvestors.com/articles/11819
- The Nasdaq closed UP +53.64 points (+0.40 %);
- The IBB closed up +0.70% and XBI closed up +1.12%;
- Sector volume was LOW with 2 of the 25-upside having higher than the 3-month average volume with the volume of 1 of 8-downside having higher than the 3-month average volume;
- The CBOE Volatility Index (VVIX: INDEX) was down -0.56 points or -2.83% at 19.23;
- Wednesday’s percentage (%) of the 25-upside were +0.11% (GBT) to +5.31% (VSTM) while the 8-downside ranges from -0.29% (RARE) to -4.29% (BLUE);
March: 6 positive, 6 negative and 1 neutral closes
February: 9 positive, 10 negative closes and 1 holiday
January: 10 positive, 9 negative closes and 1 holiday
Companies in my headlights – It’s your decision; I provide an idea and context:
Maintaining Sell: Questions continue …
Biostage (BSTG) closed flat at $1.30 with 36 shares traded after Tuesday’s +$0.02 to $1.30 with 210 shares traded, Monday’s +$0.02 to $1.28 with 425 shares traded, Friday’s -$0.11 to $1.26 with 4,069 shares traded i.e., “pumped” and last Thursday’s -$0.13 to 41.37 with 1,153 shares traded.
Question#1: WHEN will the clinical trial begin, “the IND was approved for the Cellspan Esophageal Implant (CEI) to treat patients with end-stage esophageal disease that require a segmental surgical resection to repair the diseased tissue. The FDA notified the Company that it removed the clinical hold and that the Company may proceed with its study” … on 3/20/20 – one (1) year ago.
Question#2: WHEN are the 10-K and 10-Q filings due - WHO has managed the financials without ANY designated "inside" accounting or finance professional?
Question#3: RSM US LLP, WHAT will your opinion of these operational issues and focus be?
MINORITY PUBLIC shareholders are waiting, watching and weighting responses to MAINTAIN their RIGHTS.
SELL:
Alnylam Pharmaceuticals (ALNY) closed up +$1.37 to $145.15 after Tuesday’s $143.78 and Monday’s $146.12 with a negative -$0.45 or -0.31% aftermarket indication.
CRISPR Therapeutics (CRSP) closed up +$0.53 to $131.10 after Tuesday’s +$3.03 to $130.57, Monday’s +$2.99 to $133.60, Friday’s -$3.27 to $130.61 and last Thursday’s +$9.73 to $133.88 with a negative -$1.14 or -0.87% pre-market indication.
Solid Biosciences (SLDB) closed up +$0.22 to $6.65 after Tuesday’s $ and Monday’s $ with a negative -$0.40 or -6.02% aftermarket indication after announcing an $85 million public offering.
Maintaining BUY:
Applied Genetic Technologies (AGTC) closed up +$0.04 to $5.80 after Tuesday’s $5.76 and Monday’s $5.87 with a positive +$0.09 or +1.55% pre-market indication.
Sangamo Therapeutics (SGMO) closed up +$0.38 to $11.86 after Tuesday’s -$0.35 to $11.48, Monday’s $11.83, Friday’s $11.54 and last Thursday’s $11.64 with a positive +$0.48 or +4.05% pre-market indication.
Editas Medicine (EDIT) closed up +$0.90 to $46.57 after Tuesday’s -$2.30 to $45.67, Monday’s +$1.69 to $47.97, Friday’s -$1.04 to $46.28 and last Thursday’s +$0.66 to $47.32 with a positive +$0.39 or +0.84% aftermarket indication.
The BOTTOM LINE: I see a mix of BUYs and SELLs but, can’t count on being right as this market and sub-set sector is very capricious with short-term spurts through the mist of momentum and algorithmic rules.
I STILL am a “beware or the cautious man” whose focus has always been “warning analysis” … earnings’ season is NOT over … my advice, trim and skim … if one can!”
Many talk of horizons; “as I have said last week, my horizon is usually a Friday’s close …”
Opinions expressed are those of the author and are subject to change, and not intended to be a forecast of future events, a guarantee of future results, nor investment advice.
Whether information or intelligence is good, bad or somewhere in between; I put into context what is relevant and useful for investors. All investments are subject to risks. Investors should consider investment objectives.
Henry McCusker, the editor and publisher of RegMed Investors does not hold or have positions in securities referred to in this publication.
