September 13, 2017 6:17pm
Today’s upside burst follows yesterday’s downslide
The sector’s memory is oriented to a short-term oversold condition
Pre-open indications: 5 hits and 1 miss (by a penny)
Out and about: Applied Genetic Technologies Corp. (AGTC) reported a Q4 loss of $3.2 million or -$0.18 per share. AGTC's shares closed at $4.05, an -18.18% decrease; a year ago, it traded at $13.19. CEO Washer should consider abdicating her role or getting an operating officer who can pull a trigger and manage a share price for “her” forgotten investors!
ImmunoCellular Therapeutics (NYSE MKT: IMUC) regained listing compliance
It’s called premium content for a reason: what is the value of reporting the truth in this sector?
If you had been right as many times as I have been in these many months of 2017 as a SUBSCRIBER you would know … when to get in and out or get back in again!
I answer one question, in which company should investors commit and keep their money.
Wednesday’s results have implications to Thursday’s sector activity as a daily report may say little or a lot and it serves as insurance that all indications are being examined and evaluated!
Henry’omics:
From the pre-open’s investor’s newsletter “…do the weak get weaker? Not any worse than usual, not any better in the short run … I propose a wait-and-see mode as indexes are down (IBB and IWM) or do not indicate as algorithms and ETFs retard any upside. It might be time to close the pool as the summer investing season and quarter is about to close.”
Cell, stem and gene therapy companies moved to the upside on what – an algorithmic computation.
Some of MY working trend lines or indications:
… The greatest volume to the downside:
… Upside volume was weighted to:
… Biggest $ downside: BLUE, AGTC, MDXG, ONCE and FCSC
… Largest $ upside: JUNO, RGNX, KITE, SGMO and CLLS
… Flat: RENE.L
The gains and pain in the sector are well noted as above!
Of the mid-tiers, VCEL closed up +$0.20 after Tuesday’s -$0.10, AST was up +$0.10 after Tuesday’s -$0.10, BLCM was up +$0.06 after yesterday’s -$0.07 and BLFS was also up +$0.05 following Tuesday’s -$0.05
MY frequent target, PSTI was up +$0.12 after Tuesday’s -$0.05 after Monday’s +$0.11, a surprise after Q4 and FY17 results and $26.7 M in cash as of 6/17 – it will depreciate.
Getting slammed again was: MESO (-$0.05) and MDXG (-$0.76),
VSTM, RGNX, JUNO and KITE were up to name a few.
ISTO was up +$0.07 on 30 K shares traded <3 month average = 3.9K shares>.
Another favorite: ONVO was up +$0.09 on solid volume – 936.4 K shares traded <3 month average = 768 K shares>
My customary target were up: BSTG (+$0.00)with serious terminal death legal issue hanging over its head while CYTX dropped again -$0.01 – who is restructuring and looking for a future … their CEOs is the problem and their tactical execution.
Under estimated company is yet again: HSGX was up again +$0.10 to $2.13 after Tuesday’s +$0.08 to $2.03 with 192.8 K shares traded <3 month average = 60.5 K shares>, Monday’s +$0.03 and last Friday’s +$0.03 following a close of +$0.08 after the previous days (the previous Monday’s) -$0.05 with a P3 milestone.
Volume is still anemic weighted heavier to upside suspects …
Pre-open indications: 5 hits and 1 miss:
- Applied Genetic Technologies (AGTC) closed down -$0.90 – hit;
- Bellicum Pharmaceuticals (BLCM) closed up +$0.06 – hit;
- Biostage (BSTG) closed flat $0.00 – hit;
- bluebird bio (BLUE) closed down -$1.60 – hit;
- Fibrocell Science (FCSC) closed down - $0.30 – hit;
- Verastem (VSTM) closed up +$0.01 – miss;
The advance/decline line scenario of 43 SCGT & RT covered companies:
· The first hour was neutral with an A/DL of 20/20 and 3 flat;
· The mid-day was positive with an A/DL of 27/14 and 2 flat;
· The close was positive with an A/DL of 27/15 and 1 flat – the opposite of yesterday;
Out and about:
Applied Genetic Technologies Corp. (AGTC) on Wednesday reported a fiscal fourth-quarter loss of $3.2 million or -$0.18 per share, after reporting a profit in the same period a year earlier.
· The results missed “Street” expectations of $0.22 per share. AGTC posted revenue of $8.3 million in the period, also falling short of Street forecasts; the expectation was for $13.4 million. For FY17, AGTC reported net income of $407,000, or 2 cents per share, swinging to a profit in the period. Revenue was reported as $39.5 million.
· AGTC closed down -$0.93 or -19.19% to $4.00 with 743.5 K shares traded <3 month average = 188.9 K shares>;
· Where is the guidance, support from management or any PR response from Lazar Partners – totally mismanaged …
· AGTC's shares closed down -$0.90 at $4.05 – 18.18% decrease; year ago, it traded at $13.19. CEO Washer should consider abdicating her role or getting an operating officer who can pull a trigger and manage a share price for the forgotten investors!
· Where is this BOD – in her pocket? Heads should … ROLL!
ImmunoCellular Therapeutics, Ltd. (NYSE MKT: IMUC) announced that the NYSE MKT LLC has accepted their plan to regain compliance with the exchange's continued listing standards
· As previously reported the NYSE MKT compliance required a stockholders' equity of $6 million or more as IMUC had reported losses from continuing operations and/or net losses in its five most recent fiscal years. In order to maintain its listing, IMUC submitted a plan of compliance addressing how it intends to regain compliance and the plan has been accepted by the NYSE MKT.
· IMUC has been granted until December 23, 2018, subject to periodic review.
Daily analytics:
U.S. stocks switched between small gains and losses on Wednesday, with the S&P 500 and NASDAQ retreating from all-time highs.
· The S&P 500 briefly set an intraday record but pulled back, falling less than a point to 2,495.
· The Dow was fractionally higher, adding 12 points to 22,131.
· The NASDAQ was off less than a point to 6,453.
The CBOE Volatility Index (VIX) widely considered the best gauge of fear in the market; Wednesday traded at 10.51, down -0.66% …
- Tuesday traded at 10.58, down -1.40% after Monday traded at 10.73, down -11.47% after Friday traded at 12.12, up +4.94%, Thursday traded 11.88, down -0.69% after last Wednesday traded at 11.63, down -4.91%
Welcome to another day of the sector’s roller coaster …
… The iShares Russell 2000 (IWM) indicated:
· Wednesday was up +0.30%
· Tuesday+0.61%
· Monday +1.03%
· Friday +0.07%
· Thursday -0.25%
· Last Wednesday +0.20%
… The iShares NASDAQ Biotechnology (IBB) indicated:
· Wednesday was down -0.33%
· Tuesday +0.22%
· Monday+0.09%
· Friday -0.34%
· Thursday +0.27%
· Last Wednesday +0.39%
The count - decliners versus gainers:
……. look at the differences in the spreads as decliners jump and %
· Wednesday’s decliners ranged from -0.27% <AXGN -$0.05> to -18.18% <AGTC -$0.90> in 15 equities;
· Tuesday’s decliners ranged from -0.06% <KITE -$0.11> to -3.91% <PSTI -$0.05> in 27 equities;
· Monday’s decliners ranged from -0.19% <RGNX -$0.05> to -4.29% <ADRO -$0.50> in 20 equities;
· Friday’s decliners ranged from -0.15% <KITE -$0.27> to -8.19% <MDXG -$1.27> in 16 equities;
· Thursday’s decliners ranged from -0.21% <BLFS -$0.01> to -6.82% <VTGN -$0.12> in 11 equities;
· Last Wednesday’s decliners ranged from -0.28% <AXGN -$0.05> to -7.71% <CYTX -$0.03> in 22 equities;
Versus
… Look at the percentage’s (%) and spreads …
· Wednesday’s gainers ranged from +0.10% <XON +$0.02> to +9.76% <PSTI +$0.12> in 27 equities;
· Tuesday’s gainers ranged from +0.17% <OSIR +$0.01> to +5.32% <AGTC +$0.25> in 14 equities;
· Monday’s gainers ranged from +0.14% <JUNO +$0.06> to +9.40% <PSTI +$0.11> in 23 equities;
· Friday’s gainers ranged from +0.15% <XON +$0.03> to +15.63% <CYTX +$0.05> in 20 equities;
· Thursday’s gainers ranged from +0.21% <KITE +$0.38> to +16.13% <FCSC +$0.40> in 28 equities;
· Last Wednesday’s gainers ranged from +0.08% <KITE +$0.14> to +28.13% <VSTM +$1.08> in 18 equities;
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.
