March 26, 2024 7:42am

Have we crossed into overbought territory, again?

Earnings: bluebird bio (BLUE)

News: Beam Therapeutics (BEAM) announced the clearance of its clinical trial authorization (CTA) application by the United Kingdom (UK) Medicines and Healthcare Products Regulatory Agency for BEAM-302, an in vivo base editor, as a potential treatment for patients with alpha-1 antitrypsin deficiency (AATD).  Mesoblast (MESO) announced that U.S. FDA has informed the company that following additional consideration the available clinical data from its P3 study MSB-GVHD001 appears sufficient to support submission of the proposed Biologics License Application (BLA) for remestemcel-L for treatment of pediatric patients with steroid-refractory acute graft versus host disease (SR-aGVHD).

Pre-open Indications: 6 Sell into Any Strength,

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Never leave an investor uninformed!

Remember that overnight and pre-open actions’ futures and global markets doesn't necessarily translate into actual trading in the today’s market session.

More frequently right than consequentially wrong

I also follow the dictum, quoting Churchill that “short words are best, and the old words when short are best of all.”

 

Tuesday: The pre-open Dow futures are UP +0.22% or (+89 points), the S&P futures are UP +0.36% or (+18 points) as the Nasdaq futures are UP +0.47% or (+86 points)

U.S. stock futures were higher Tuesday morning,

European markets were choppy,

Most Asia-Pacific markets rose.

 

Henry’omics:

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

Indexes slipped Monday to start a shortened trading week … with the market is on track for its fifth consecutive month of gains fueled by the Fed’s latest remarks that maintained central bankers’ rate-cutting timeline for this year; as the Dow closed DOWN -162.26 points or -0.41%, the S&P closed DOWN -15.99 points -0.31% while the Nasdaq closed DOWN -44.35 points or -0.27%.

Economic Data Docket: Durable goods orders, February (+1.4% expected, -6.2% previously); FHFA house price index, January (+0.1% previously); S&P CoreLogic Case-Shiller home prices, January (+0.2% expected, +0.21% previously); Conference Board Consumer Confidence Index, March (107 expected, 106.7 previously); Richmond Fed manufacturing index, March (-5 previously)

 

Monday’s night RegMed Investors (RMi) Closing Bell: “twists and turns as Monday closes barely positive and a coming end of March and Q1/24.  As sentiment is supplemented by FOMO (fear-of-missing-out) of pops and drops?” … https://www.regmedinvestors.com/articles/13389   

 

Q1/24: march – 7 positive and 10 negative closes

  • February – 1 market holiday, 11 positive and 9 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.

Sell into any Strength:

Friday, Thursday, Wednesday, Tuesday and last Monday’s closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)

Adverum Biotechnologies (ADVM) closed down -$1.11 after Friday’s +$1.31, Thursday’s -$0.45, Wednesday’s -$0.13 and last Tuesday’s -$0.12 with a neutral pre-open indication.

Beam Therapeutics (BEAM) closed up =$0.06 after Friday’s -$1.32 with a positive +$0.29 or +0.86% pre-open indication.

Blueprint Medicine (BPMC) closed up +$1.18 after Friday’s -$3.01, Thursday’s +$1.79, Wednesday’s +$0.29, and last Tuesday’s +$1.15 with a neutral pre-open indication.

Solid Biosciences (SLDB) closed down -$0.17 after Friday’s +$1.13, Thursday’s -$0.65, Wednesday’s -$1.48 and last Tuesday’s +$1.39 with a neutral pre-open indication.

Vericel (VCEL) closed up +$1.04 after Friday’s +$0.21 after Thursday’s +$0.94 with a neutral pre-open indication.

Intellia therapeutics (NTLA) closed down -$0.08 after Friday’s-$0.74, Thursday’s -$0.13, Wednesday’s +$0.15 and last Tuesday’s +$0.23 with neutral pre-open indication

 

The BOTTOM LINE:  Rollin', rollin', rollin' <Remember the “Rawhide” theme>

Though the stocks are swollen

Keep them cell and gene therapies rollin'

Algorithms and trading, and sentiment

Hell-bent for my skin in the game

Wishin' the market was on my side

All the things I'm missin'

Are waiting at the end of my March and Q1/24

Move 'em on (Head 'em up), Head 'em up (Move 'em on), Move 'em on (Head 'em up)

Rawhide

Cut 'em out (Ride 'em in), Ride 'em in (Cut 'em out)

Don't try to understand 'em, just buy, trade, and sell 'em

Soon we'll be livin' high and wide by runin’ a personal hedge/portfolio fund

 

This week is a light one for economic data, with the spotlighted release — the Labor Department's Personal Consumption Expenditures price index is expected on Friday before the market opens.

 

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.

  • BLUE today
  • 29 (of 35 covered companies)will  have reported …6 are left to release earnings of my covered group.

 

Monday stats relating to Tuesday:

  • The Dow was down 162 points, or 0.4%, the S&P 500 was down 0.3% and the Nasdaq was down 0.3%.
  • The 10-year U.S. Treasury yield rose to 4.25%.

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.