June 25, 2021 8:51pm

A volume spurt in Friday’s session, but, ends with a positive close and I am still more right than most

Pre-open indications: 8 HITs and 1 MISS

My comments try to distinguish the temporary from real pricing digression or progress.

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The Dow closed UP +238.01 points (+0.70%); the S&P closed UP +14.27 points (+0.33%) while the Nasdaq closed DOWN -9.32 points (-0.06%)

 

Henry’omics:

Indexes climbed except the Nasdaq …

The S&P 500 is up 2.7%, the Dow is up 3.4% and the Nasdaq is up 2.4% (even though it dropped today) for the week.

Friday saw some heightened trading volume as FTSE Russell rebalanced its U.S. stock indexes at the market close.

  • Bank of America estimated that more than $170 billion worth of shares would be changed hands as a result of 625 changes in total to Russell indexes, including the Russell 1000 and Russell 2000.

 

Data Docket: The Commerce Department reported their reading matched the expectation from economists: the core index rose 0.5% for the month, which actually was below the 0.6% estimate.

 

RegMed Investors’ (RMi) pre-open: “I’m still in the cautious mode, not quite saying bye; yet, not saying hello as Fridays can be market and sector capricious. When algorithms bite, portfolios never see its coming; as the Russell rebalances, the June changes reflect representation of the index” … https://www.regmedinvestors.com/articles/11972

 

RegMed/Stem/Cell and Gene therapy’s 35 covered equities’ Advance/Decline (A/D) lines:

  • Friday opened positive at 21/12, 1 flat and 1 acquired, tripped negative at 10:30 a.m. with the mid-day back positive to 18/13, 3 flats and 1 acquired, closing positive at 18/13, 3 flats and 1 acquired;
  • Thursday opened positive at 27/5, 2 flats and 1 acquired, stayed positive at the mid-day to 25/7, 2 flats and 1 acquired, closing positive at 28/5, 1 flat and 1 acquired;
  • Wednesday opened positive at 24/10 and 1 acquired, stayed positive at the mid-day to 17/15, and 1 acquired, closing positive at 25/9 and 1 acquired;
  • Tuesday opened negative at 7/26, 1 flat and 1 acquired, stayed negative at the mid-day to 4/30, 1 flat and 1 acquired, closing negative at 9/25 and 1 acquired;
  • Monday opened negative at 9/24, 1 flat and 1 acquired, flipped barely positive at the mid-day to 17/16, 2 flats and 1 acquired, closing positive at 16/15, 3 flats and 1 acquired;

 

The Biostage (BSTG) Chronicles: The “pump” is STILL TRYING to promote on Friday as 1,600 shares traded (from whom) as the stock dropped -$0.10 to $1.25 after Thursday with 1,920 shares traded to “putt” the share price at $0.10 to $1.35, Wednesday’s share price popping and then dropping -$0.05 to $1.25 with 11,915 shares traded, Tuesday with the share price INFLATED +$0.09 with 4,779 shares trading, Monday closed flat at $1.21 with 572 shares traded following last Friday closing flat at $1.21 with 333 shares traded … WHO is buying this “zombie” as IF we didn’t know? After yet another warrant execution and ever-increasing UN-REGIGISTERED share DILUTION!

 

Pre-open Indications: 8 HITs <Biostage (BSTG -$0.10), Alnylam Pharmaceuticals (ALNY +$1.71), Global Blood Therapeutics (GBT +$-0.00 from +$1.20), Applied Genetic Technologies (AGTC -$0.20), Editas Medicine (EDIT +$1.01), Intellia Therapeutics (NTLA +$1.99), CRISPR Therapeutics (CRSP +$4.64), Fate Therapeutics (FATE -$0.29) and 1 MISS < Cellectis SA (CLLS +$0.13)

 

RegMed/Cell and Gene Therapy Earnings Scorecard Q1/21 LPS Results: https://www.regmedinvestors.com/articles/11628

 

There are clear winners and losers

Jumping with share pricing momentum:

  • Crispr Therapeutics (CRSP), Intellia Therapeutics (NTLA), Alnylam Pharmaceuticals (ALNY), Vericel (VCEL), Sage therapeutics (SAGE) to name 5 of the 18 inclining of the 35 covered

Hammered in today’s market:

  • bluebird bio (BLUE), ReNeuron (RENE.L) – yet another again, Fate Therapeutics (FATE), Mesoblast (MESO), Applied Genetic Technologies (AGTC) to name 5 of the 13 declining of the 35 covered

 

Key metrics:

  • Sector volume was HIGH with 17 of the 18-upside having higher than the 3-month average volume with HIGH volume of 8 of 13-downside having higher than the 3-month average volume;
  • Friday’s percentage (%) of the 18-upside were +0.52% (BLFS) to +4.46% (CLBS) while the 13-downside ranges from -0.26% (SLDB) to -7.41% (BSTG);

 

Friday’s (10 of 18) incliners:

  • CRISPR Therapeutics (CRSP +$4.64 after Thursday’s +$7.20 and Wednesday’s +$1.48);
  • Intellia therapeutics (NTLA +$1.99 after Thursday’s +$3.25 and Wednesday’s +$4.68);
  • Alnylam Pharmaceuticals (ALNY +$1.71 after Thursday’s -$0.95, Wednesday’s +$1.68, Tuesday’s +$1.69 and Monday’s -$5.63);
  • Vericel (VCEL +$1.64 after Thursday’s +$0.97 and Wednesday’s +$3.73);
  • Sage Therapeutics (SAGE +$1.33 after Thursday’s +$0.63, Wednesday’s +$0.69, Tuesday’s -$1.75 and Monday’s +$0.56);
  • Editas Medicine (EDIT +$1.01 after Thursday’s +$3.05, Wednesday’s +$1.41, Tuesday’s -$0.45 and Monday’s +$0.98);
  • uniQure NV (QURE +$0.83);
  • Ultragenyx (RARE +$0.63 after Thursday’s -$0.52, Wednesday’s -$1.05, Tuesday’s -$0.72 and Monday’s +$0.57);
  • Ionis Pharmaceuticals (IONS +$0.49 after Thursday’s +$0.66);
  • Chinook therapeutics (KDNY +$0.39);

Friday’s (10 of 13) decliners:

  • bluebird bio (BLUE -$1.42 after Thursday’s -$0.04 and Wednesday’s -$0.41);
  • ReNeuron (RENE.L -$1.00 after Thursday’s -$5.50, Wednesday’s -$2.50 and Tuesday’s -$5.55);
  • Fate Therapeutics (FATE -$0.29 after Thursday’s +$1.31, Wednesday’s +$2.11, Tuesday’s -$0.48 and Monday’s +$1.67);
  • Mesoblast (MESO -$0.27);
  • Applied Genetic Technologies (AGTC -$0.20);
  • Bellicum Pharmaceuticals (BLCM -$0.12);
  • Verastem (VSTM -$0.12);
  • Biostage (BSTG -$0.10);
  • Voyager Therapeutics (VYGR -$0.09);
  • Pluristem (PSTI -$0.06);

Closing 3 – Precigen (PGEN), Homology Medicine (FIXX), Global Blood Therapeutics (GBT) and 1 -Stemline Therapeutics (STML – acquired)

 

Stats:

The iShares NASDAQ Biotechnology (IBB) and the SPDR S&P ETF (XBI) indicators:

  • Friday, the IBB closed up +0.84% and XBI closed up +1.01%
  • Thursday, the IBB closed down -0.79% and XBI closed up +2.22%
  • Wednesday, the IBB closed down -0.25% and XBI closed up +0.47%
  • Tuesday, the IBB closed up +0.44% and XBI closed down -0.82%
  • Monday, the IBB closed up +0.90% and XBI closed up +0.91%

 

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Friday was down -0.35 points or -2.19% at 15.62
  • Thursday was down -0.35 points or -2.14% at 15.97
  • Wednesday was down -0.34 points or -2.04% at 16.32
  • Tuesday was down -1.23 points or -6.88% at 16.66
  • Monday was down -2.78 points or -13.43% at 17.92

 

Upside volume: 

  • Friday: 17 out of the 18-upside had higher than the 3-month average volume;
  • Thursday: 8 out of the 28-upside had higher than the 3-month average volume;
  • Wednesday: 4 out of the 25-upside had higher than the 3-month average volume;
  • Tuesday: 2 out of the 9-upside had higher than the 3-month average volume;
  • Monday: 5 out of the 16-upside had higher than the 3-month average volume;

 

Downside volume:

  • Friday: 8 out of the 13-downside had higher than the 3-month average volume;
  • Thursday: 4 out of the 5-downside had higher than the 3-month average volume;
  • Wednesday: 6 out of the 9-downside had higher than the 3-month average volume;
  • Tuesday: 7 out of the 25-downside had higher than the 3-month average volume;
  • Monday: 4 out of the 15-downside had higher than the 3-month average volume;

 

Percentage (%) movement/range statistics: price versus percentage …

  • Friday’s percentage (%) of the 18-upside were +0.52% (BLFS) to +4.46% (CLBS) while the 13-downside ranges from -0.26% (SLDB) to -7.41% (BSTG);
  • Thursday’s percentage (%) of the 28-upside were +0.45% (MDXG) to +8.06% (EDIT) while the 5-downside ranges from -0.12% (BLUE) to -4.78% (RENE.L);
  • Wednesday’s percentage (%) of the 25-upside were +0.14% (AXGN) to +6.11% (VCEL) while the 9-downside ranges from -0.47% (VSTM) to -3.85% (BSTG);
  • Tuesday’s percentage (%) of the 9-upside were +0.48% (PGEN) to +7.44% (BSTG) while the 25-downside ranges from -0.24% (AGTC) to -11.75% (VSTM);
  • Monday’s percentage (%) of the 16-upside were +0.06% (BLUE) to +4.66% (FIXX) while the 15-downside ranges from -0.09% (QURE) to -6.53% (AGTC);

 

June, third month of Q2/21:

Friday closed positive with 18 advancers, 13 decliners, 3 flat and 1 acquired

Thursday closed positive with 28 advancers, 5 decliners, 1 flat and 1 acquired

Wednesday positive with 25 advancers, 9 decliners and 1 acquired

Tuesday closed negative with 9 advancers, 25 decliners and 1 acquired

Monday closed positive with 16 advancers, 15 decliners, 3 flats and 1 acquired

Friday closed negative with 15 advancers, 18 decliners, 1 flat and 1 acquired

Thursday closed positive with 23 advancers, 10 decliners, 1 flat and 1 acquired

Wednesday negative with 10 advancers, 22 decliners, 2 flats and 1 acquired

Tuesday closed negative with 5 advancers, 28 decliners, 1 flat and 1 acquired

Monday closed positive with 18 advancers, 14 decliners, 2 flats and 1 acquired

Friday closed positive with 21 advancers, 12 decliners, 1 flat and 1 acquired

Thursday closed positive with 26 advancers, 7 decliners, 1 flat and 1 acquired

Wednesday positive with 22 advancers, 12 decliners and 1 acquired

Tuesday closed positive with 25 advancers, 9 decliners and 1 acquired

Monday closed positive with 30 advancers, 4 decliners and 1 acquired

Friday closed positive with 25 advancers, 8 decliners, 1 flat and 1 acquired

Thursday closed negative with 7 advancers, 26 decliners, 1 flat and 1 acquired

Wednesday closed negative with 10 advancers, 23 decliners, 1 flat and 1 acquired

Tuesday closed positive with 17 advancers, 16 decliners, 1 flat and 1 acquired

 

 

The BOTTOM LINE: Ending Friday’s session with a barely positive Advance/Decline (A/D) line and the week with 4 of 5 positive closes.

Reiterating, “I am hearing and seeing “buy the rumor and sell the news” in my cell and gene therapy sector.

In a Friday’s session, advancing issues outnumbered declining ones.

As I stated this a.m. – a cautious outlook … don’t get complacent … WHO has presented clinical data: Alnylam Pharmaceuticals (ALNY -$0.95) and the stock dropped even after a pre-market $2.22 estimate as the stock closed down, Thursday Applied Genetic Technologies (AGTC) had a +$0.48 pre-market yet closed only +$0.15 after a 12-month data present.

I’m STILL a “beware or the cautious man” whose focus has always been “warning analysis” … earnings’ season is NOT over … my advice, trim and skim any new highs if one can!”

 

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.

Regulation Analyst Certification ("Reg AC"): The research analyst primarily responsible for the content of this report certifies the following under Reg AC: I hereby certify that all views expressed in this report accurately reflect my personal views about the subject company or companies and its or their securities. I also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.