April 11, 2024 4:44pm

With gains in afternoon buying reacting to cooler producer price inflation

Who speaks out while standing in-front, beside and behind investors - RMi

Pre-open Indicators: 2 Positive and 1 Negative Indicators

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The present and future value of RegMed Investors (RMi) NEWS sheds light on the stem, cell and gene therapy sector’s risks to share pricing and the sector’s upside acrobatics and potential downslides.

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! 

 

Thursday: The Dow closed DOWN -2.43 points or -0.01%, the S&P closed UP +38.42 points or +0.74% while the Nasdaq closed UP +271.84 points or +1.68%

 

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 closed mixed as the Dow slipped with the S&P and Nasdaq were up on Thursday from an earlier pullback over concerns of persistent inflation.

The week to date, the Dow is lower by almost 1%, the S&P 500 has is slightly higher and the Nasdaq is up 1.2%.

Economic Data Docket: Wholesale prices rose 0.2% in March, while economists was expected at 0.3% growth. Core CPI, which excludes food and energy, increased 0.2%, in line with forecasts. On a yearly basis, wholesale prices jumped 2.1%, the highest level since April 2023.

 

Thursday’s RegMed Investors’ (RMi) opening bell: “a double whammy of market and sector arithmetic. March’s PPI and a jobless claims report today.” … https://www.regmedinvestors.com/articles/13413

 

Pre-open Indicators: 2 Positive < Intellia Therapeutics (NTLA +$0.05), BioLife Solutions (BLFS -$0.11)> and 1 Negative Indicators < Beam Therapeutics (BEAM +$0.21)>

 

Advance/Decline (A/D) Line:

  • Thursday’s advance/decline line at the open was negative with 8 incliner, 24 decliners and 1 flat; ending with a negative close of 14 incliners, 19 decliners and 2 flats

 

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

Q2/24: 7 negative and 2 positive closes

Q1/24:

  • March, 1 holiday, 8 positive and 12 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:

  • Thursday, the IBB was up +0.36% and the XBI was up +1.51%

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Thursday was down -0.88 point or -5.57% at 14.92

 

Thursday’s Closing Down (10 of 19):

  • Ultragenyx Pharmaceuticals (RARE -$0.91 after Wednesday’s +$1.05 after Tuesday’s +$0.59),
  • Vericel (VCEL -$0.46 after Wednesday’s -$1.16),
  • Ionis Pharmaceuticals (IONS -$0.44 after Wednesday’s +$0.11 after Tuesday’s +$0.59 and Monday’s -$0.98),
  • Alnylam Pharmaceuticals (ALNY -$0.32 after Wednesday’s -$3.49 after Tuesday’s -$0.14 and Monday’s +$2.48),
  • Fate Therapeutics (FATE -$0.32 after Wednesday’s -$0.44),
  • Solid Biosciences (SLDB -$0.17 after Wednesday’s -$0.73, Tuesday’s -$0.35 and Monday’s -$0.26),
  • AxoGen (AXGN -$0.16 after Wednesday’s -$0.53)
  • BioLife Solutions (BLFS -$0.16 after Wednesday’s -$0.90 after Tuesday’s +$0.85 and Monday’s +$0.18),
  • Graphite Bio (GRPH -$0.09),
  • Prime Medicine (PRME -$0.08),

Flat (2):

  • Compass Therapeutics (CMPX)
  • Harvard Apparatus RT (OTCQB: HRGN $0.00 after Wednesday’s+$0.09, Tuesday’s -$0.98 and Monday’s $0.00),)

Thursday’s Closing Up (10 of 14):

  • Blueprint Medicine (BPMC +$1.76 after Wednesday’s -$1.71 after Tuesday’s +$0.66 and Monday’s -$0.11),
  • CRISPR Therapeutics (CRSP +$1.17 after Wednesday’s -$3.45, Tuesday’s +$1.10 and Monday’s +$1.19),
  • Generation Bio (GBIO +$0.29),
  • Beam Therapeutics (BEAM +$0.21 after Wednesday’s -$2.26, Tuesday’s +$0.51 and Monday’s +$0.61),
  • Regenxbio (RGNX +$0.17),
  • Sage Therapeutics (SAGE +$0.12),
  • MiMedx (MDXG +$0.06),
  • Intellia Therapeutics (NTLA +$0.06 after Wednesday’s -$1.13, Tuesday’s +$0.78 and Monday’s +$0.52),
  • Verve Therapeutics (VERV +$0.06 after Wednesday’s -$0.74 after Tuesday’s +$0.35 and Monday’s -$0.12),
  • Precigen (PGEN +$0.04 after Wednesday’s $0.00),

 

Q2/24 – April

  • Thursday closed negative with 14 incliners, 19 decliners and 2 flats

 

The BOTTOM LINE: sellers (i.e., algorithms and electronic trading) are still in charge …

  • “The inflation front produced a slightly better picture for investors on Thursday: Producer Price Index in March rose 0.2% from the previous month, a lower rate of growth than economists had forecast.
  • Year-over-year growth of 2.1% was also below estimates. However, that annual growth represented the fastest jump in producer prices in nearly a year.” <IBD>

The cell and gene therapy sector tumbled on Thursday after Wednesday’s “fumble” after hotter-than-expected inflation data threw cold water on hopes the Fed would enter its monetary policy easing phase soon.

  • Meanwhile, the 10-year Treasury yield traded around 4.56%, steadying after surging to touch its highest level since November on Wednesday.

 

Last week, I wrote that I favor … caution over the next few weeks! Wednesday … proved me true!

 

A good quote, "Volatile inflation is the reality for the next several years. One month you go back into, you know, core goods inflation, the next month, meaning March you go back into core goods deflation, and everybody's pointing at these different drivers of what was what was sending inflation higher each month."< Kevin Gordon, Charles Schwab senior investment strategist>

 

The top three (3) performing in the session:

  • Thursday: Blueprint Medicine (BPMC), CRISPR Therapeutics (CRSP) and Generation Bio (GBIO)
  • Wednesday: Ultragenyx Pharmaceuticals (RARE), Harvard Apparatus RT (OTCQB: HRGN) and Compass Therapeutics (CMPX)
  • Tuesday: CRISPR Therapeutics (CRSP), BioLife Solutions (BLFS) and Intellia Therapeutics (NTLA)
  • Monday: Alnylam Pharmaceuticals (ALNY), CRISPR Therapeutics (CRSP) and Beam Therapeutics (BEAM)

The worst three (3) in the session:  

  • Thursday: Ultragenyx Pharmaceuticals (RARE), Vericel (VCEL) and Ionis Pharmaceuticals (IONS),
  • Wednesday: CRISPR Therapeutics (CRSP), Alnylam Pharmaceuticals (ALNY) and Blueprint Medicine (BPMC)
  • Tuesday: Adverum Biotechnologies (ADVM), Mesoblast (MESO) and Generation Bio (GBIO)
  • Monday: Ionis Pharmaceuticals (IONS), Vericel (VCEL) and Voyager Therapeutics (VYGR)

 

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.