February 29, 2024 7:46am
Followed by LPS (loss-per-share) “numbers” for those reporting
Q4 and FY23 Earnings: BioLife Solutions (BLFS) and Vericel VCEL)
Pre-open Indications: 3 Positive and 4 Negative Indications
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Remember that overnight and pre-open actions’ futures and global markets doesn't necessarily translate into actual trading in the today’s market session.
If you’re looking for sector intel, ideas and facts or Insight in a volatile climate, RMi provides the extenuating factors of share pricing.
Thursday: The pre-open Dow futures are DOWN -0.29% or (-114 points), the S&P futures are DOWN -0.23% or (-11 points) as the Nasdaq futures are DOWN -0.20% or (-36 points)
Stock futures are falling on Thursday,
European markets were cautiously higher
Asia-Pacific stocks traded mixed
Henry’omics:
We need to more than consider the economic environment to comprehend the micro re “our” universe of cell and gene therapy companies …
Wednesday, indexes were down as “stocks ticked lower with the Dow closing DOWN -23.39 points or -0.06%, the S&P closed DOWN -8.42 points -0.17% while the Nasdaq closed DOWN -87.56 points or -0.55%
Economic Data Docket: personal consumer expenditures (PCE) reading for January.
- Economists are bracing for a 0.3% monthly gain and a 2.4% year-over-year move. A higher-than-expected print could dent equities and signal that recent hot consumer price index and producer price index releases were on trend.
- The overall PCE price index is expected to rise 0.3%, picking up from December's 0.2%. But PCE inflation is seen slowing to 2.4% from December's 2.6% year-over-year increase.
- The core PCE price index should climb 0.4%. Core PCE inflation should still dip to 2.8% from December's 2.9% annual increase.
- Other key economic figures are due out, including personal income data for January, Chicago purchasing managers index data for February and the pending home sales index for January. New York Federal Reserve Bank President and CEO John Williams is also slated to moderate a discussion in the evening.
Wednesday’s night RegMed Investors (RMi) Closing Bell: “run from sector highs to cash as a portfolio value preservation strategy. investor sentiment is capricious, especially as the cell and gene therapy sector exits some highs in Q4 and FY23 earnings season while the outlook for the US economy remains uncertain.” … https://www.regmedinvestors.com/articles/13349
Q1/24: February – 1 market holiday, 11 positive and 8 negative closes
- January: 2 holidays, 11 negative and 8 positive closes
Companies in my headlights – It’s your decision; I provide ideas and context:
I post about “indication intelligence” devoting my time to collection and analysis of information to assist investors with insight into sector vulnerabilities and strengths. A dictionary definition of “indicate” refers to something less than a certainty; an indication could be a signal of being oversold or overbought, a recommendation, or grounds for inferring or a basis for believing.
Positive indications:
Wednesday, Tuesday, Monday, Friday and last Thursday’s closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)
Beam Therapeutics (BEAM) closed down -$1.46 after Tuesday’s +$9.27 and Monday’s +$1.81 with a positive +$0.63 or +1.44% pre-open indication.
MiMedx (MDXG) closed down -0.20 with a positive +$0.75 or +9.15% pre-open indication.
Voyager Therapeutics (VYGR) closed up +$0.06 with a positive +$1.56 or +17.39% pre-open indication
Negative Indications:
Wednesday, Tuesday, Monday, Friday and last Thursday’s closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)
CRISPR Therapeutics (CRSP) closed down -$1.44 after Tuesday’s +$3.06 and Monday’s +$2.07 with a negative -$0.10 or -0.11% pre-open indication.
Editas Medicine (EDIT) closed up +$2.21 after Tuesday’s +$0.8 with a negative -$0.13 or -1.17% pre-open indication
Intellia Therapeutics (NTLA) closed up +$1.78 after Tuesday’s +$3.36 and Monday’s +$1.56 with a positive +$0.13 or +0.40% pre-open indication.
Ionis Pharmaceuticals (IONS) closed down -$0.87 after Tuesday’s +$1.31 and Monday’s +$0.74 with a negative -$1.21 or -2.60% pre-open indication.
The BOTTOM LINE: The sector downslide is probably constructive. There are earnings gap-ups and downs with then dramatic falls.
The cell and gene therapy sector equities dived on Wednesday after Tuesday positive close following Monday, Friday and Thursday and last Wednesday’s positive sessions.
- The remainder of the month’s trading sessions will be critical as the RegMed sector continues earnings’ in LPS (loss-per-share) season, estimates and consensus which set market reaction and will report “runways” and those whose cash positions render their future questionable.
13 have reported … RegMed Investors (RMi) Research Note: Q4/23 earnings reporting dates, net losses, cash positions and runway outcomes … https://www.regmedinvestors.com/articles/13166
I reiterate, “Don't chase the cell and gene therapy sector.”
Short and non-sweet: SELL into STRENGTH – accumulate some “powder” i.e., cash!
- The Nasdaq is no longer extended from the 50-day line after pausing for the past few days around the 16,000 level, but it would be extended with any decent gain. That's been the story for the past few months.
- The 10-year Treasury yield fell 4 basis points to 4.27%, still holding near 2024 highs.
Welcome to my world of defining the “grey’ in our universe!
- Right up front, “I also hate to be so negative or contrarian but, this is a NO spin zone and facts are its product; I can always be WRONG but … I am mostly EARLY!”
- The sector is what it is, until it isn’t and even then, it doesn’t seem to be… as NOT much changes as the sector’s share pricing rides the waves of volatility, algorithms, electronic trading and short covering.
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. All investments are subject to risks. Investors should consider investment objectives.
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. 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.
Henry McCusker, the editor and publisher of RegMed Investors could hold or have positions securities referred to in this publication and he will NOTIFY investors of holdings.
