March 18, 2024 4:50pm

As electronic trading including algorithms sell into strength brought-on by Friday’s triple-witching “covering”

Earnings: Adverum Biotechnologies (ADVM) <see The Bottom Line>

Pre-open Indications: 2 Hit and 4 Miss

The Harvard Apparatus RT (OTC QB HRGN) formerly Biostage (BSTG) Chronicles: Question, Is it a Ponzi Scheme?

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Insight is about understanding perception and also about putting into context what is relevant to expectation fulfillment.

I write this blog/newsletter to inform investors with facts and supporting numbers focused on what they need to hear that others will not say or write about – facts in evidence! 

 

Monday: The Dow closed UP +75.66 points or +0.20%, the S&P closed UP +32.33 points +0.63% while the Nasdaq closed UP +130.27 points or +0.82%

 

Henry’omics:

We need to more than consider the economic environment - rising rates and inflation to comprehend the micro re “our” universe of cell and gene therapy companies …

Indexes rose Monday, even though awaiting a key monetary policy guidance from the Fed later this week.

Economic Data Docket: Investors are also eagerly anticipating the Fed’s policy meeting this week. The two-day policy Federal Open Market Committee meeting kicks off Tuesday and ends with an announcement Wednesday.

 

Monday’s RegMed Investors’ (RMi) opening bell: “which way to safety? I hate to answer a question with a question; yet, are we just helping the oversold get to being overbought and subject to electronic trading?” … https://www.regmedinvestors.com/articles/13375

 

Advance/Decline (A/D) Line:

  • Monday’s advance/decline line at the open was negative with 4 incliner, 30 decliners and 1 flat; ending with a negative close of 6 incliners, 27 decliners and 2 flats

 

Pre-open Indications: 2 Hit <Solid Biosciences (SLDB +$0.28), Ultragenyx Pharmaceuticals (RARE -$0.78)> 4 Miss < Blueprint Medicine (BPMC -$3.88), Beam Therapeutics (BEAM -$1.35), CRISPR Therapeutics (CRSP -$1.48), Editas Medicine (EDIT -$0.41)>

 

Ebb and flow of MY covered sector cell and gene therapy session daily “endings”:

Q1/24: March, 4 positive and 8 negative closes

  • February, 1 holiday, 9 negative and 11 positive closes
  • January: 2 holiday, 12 negative and 8 positive closes

 

Key Metrics:

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

  • Monday, the IBB was down -0.49% and the XBI was down -1.88%

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Monday was up +0.02 point or +0.07% at 14.42

 

 

Monday’s Closing Down (10 of 27):

  • Blueprint Medicine (BPMC -$3.88 after Friday’s +$2.79
  • Alnylam Pharmaceuticals (ALNY -$1.68 after Friday’s +$0.74
  • CRISPR Therapeutics (CRSP -$1.48),
  • Beam Therapeutics (BEAM -$1.35 after Friday’s +$0.80
  • Intellia Therapeutics (NTLA -$0.93 after Friday’s +$0.78
  • Ultragenyx Pharmaceuticals (RARE -$0.78 after Friday’s +$0.72
  • Sage Therapeutics (SAGE -$0.60),
  • Ionis Pharmaceuticals (IONS -$0.52 after Friday’s +$0.37
  • Verve Therapeutics (VERV -$0.50),
  • Fate Therapeutics (FATE -$0.45),

Flat (2):

  • Harvard Apparatus RT (HRGN $0.00 after Friday’s-$0.20)
  • MiMedx (MDXG),

Monday’s Closing Up (6 of 6):

  • Solid Biosciences (SLDB +$0.28 after Friday’s +$0.80),
  • Regenxbio (RGNX +$0.14),
  • Sangamo Therapeutics (SGMO+$0.07 after Friday’s $0.00)
  • Adverum Biotechnologies (ADVM +$0.07 after Friday’s -$0.03),
  • AxoGen (AXGN +$0.03 after Friday’s -$0.08),
  • bluebird bio (BLUE +$0.02),

 

Q1/24 – March

  • (3/18) Monday closed negative with 6 incliners, 27 decliners and 2 flats

 

The BOTTOM LINE: One of my favorite sayings, “Today is another example of the sector being what it is, until it isn’t and even then, it doesn’t seem to be … that is after taking a deep breath and holding it.”

Followed by: “As I wrote last week “When it comes to short-term investing or trading; the trend is NOT your friend.”  Just wait a session and the direction will change from tailwinds to headwinds … or NOT!”

The cell and gene therapy sector closed Monday negative following Friday’s positive as “covering” Triple -witching occurred after Thursday’s negative close, Wednesday positive close, which I believed was aided by algorithms and electronic trading, last Tuesday and the previous Monday’s negative close.

Earnings, net losses, and per-share losses, runways and guidance have begun Q4 and FY23 which WILL be crucial to continue downside force in the sector as history has taught us i.e., investors.

  • I have seen 4 net income for the Q4 and FY23 - MiMedx (MDXG) and Voyager Therapeutics (VYGR) followed by Q4 CRISPR Therapeutics (CRSP) and Beam Therapeutics (BEAM) <but each had a FY23 loss>
  • 26 have reported … RegMed Investors (RMi) - Q4/23 & FY23 Cell and Gene Therapy Earnings Scorecard Results
  • https://www.regmedinvestors.com/articles/11628

 

Earnings today:

Adverum Biotechnologies’ Q4/23 net loss of -$23.7 M or -0.33 per share with a FY23 net loss of -$32.7 M or -0.33 per share with a cash position of -$96.5 M and a completed offering 2/24 of $127.5 M and a runway until Q4/25

 

Still not finished with Q4 and FY23 earnings releases, remaining:

  • CMPX, BLCM, OTCQB: HRGN, BLUE, BCLI, CLLS, GRPH, FIXX, PGEN, IONS,

 

As I have written, “There is ALWAYS a however, the cell and gene therapy sector is DUE a (negative) rebound EVEN if it is due to algorithms and electronic trading RECOGNIZING risk and the overbought!”

“I ALSO reiterate, “Don't chase the cell and gene therapy sector, especially with the Nasdaq extended.” Short and non-sweet: SELL into STRENGTH – accumulate some “powder” i.e., cash!

 

The top three (3) performing in the session:

  • Monday:  Solid BioSciences (SLDB), Regenxbio (RGNX) and Sangamo Therapeutics (SGMO)

The worst three (3) in the session:  

  • Monday: Blueprint Medicine (BPMC), Alnylam Pharmaceuticals (ALNY) and CRISPR Therapeutics (CRSP) 

 

BEWARE… How MANY TIMES AM I RIGHT … MORE than MOST!!

The Harvard Apparatus RT (OTC QB HRGN) formerly Biostage (BSTG) Chronicles: shows how the “pimp/pump and promote” share pricing works with WHAT news for so long …my treatise is VALIDATED!

  • Monday closed flat -$0.00 with 624 shares traded
  • Friday closed down -$0.20 with 755 shares traded
  • Thursday closed flat with 0 shares traded
  • Wednesday closed up +$0.20 with 31,253 shares traded
  • Tuesday closed down -$0.15 with 2,232 shares traded <aver 3-m=2,955 shares>
  • (3/11) Monday closed down -$0.12 was -$0.23 and -$0.28) with 6,020 shares traded
  • Friday closed down -$0.28 with 914 shares traded
  • Thursday closed flat with 7 shares traded
  • Wednesday closed up +$0.50 with 500 shares traded
  • Tuesday closed up +$0.0-9 with 851 shares traded
  • (3/4) Monday closed down -$0.69 with 10,409 shares traded (aver 3-mo= 2,765 shares)
  • (3/1) Friday closed up +$0.05 with 15,125 shares traded

Did you notice how it barely trades unless volume is being “pumped.”  This question needs to be answered as HRGN is desperate to finance by any means as past Chinese private placement investors must be feeling … WHAT … TAKEN to the cleaners?

Question, Is it a Ponzi Scheme?

 

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!”

 

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.