January 16, 2018 5:44pm
We were not having fun after a great pre-market expectation of a raging market as today’s non-amusement ride kept sloping and ...
Dropped from a high ride at 11 a.m.
The IBB (-1.23), XBI (-3.11), IWM (-1.25) and NASDAQ (-0.51%) were down while XLV (+0.44) was up
Sentiment is an attitude, a tone as revealed through the activity and price movement
Pre-open indications: 6 hits and 1 miss (by pennies)
Rumor: Celgene (CELG) is in talks to buy Juno Therapeutics (JUNO); which closed down -$3.15 and is UP +$19.50 or +42.76% in the aftermarket …
Of interest: MiMedx Group (MDXG), the first patients have been randomized and enrolled in the pivotal P3 IND clinical trial to assess the safety and efficacy of AmnioFix® Injectable in patients with recalcitrant plantar fasciitis pain.
Out and about: The Biostage (BSTG +$0.00) chronicles … don’t be fooled by surges!
Tuesday’s results have implications to Wednesday’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 newsletter, “”Right now, the investing world looks much closer to the greedy side of the scale, which more and more analysts are citing as a reason for caution. Valuations are still stretched by many metrics. The relative strength index is at its highest level since 1995, which indicates the S&P 500 is at its most overbought level in more than 20 years.”
AS I HAD STATED, “Friday’s moves aren’t about fundamentals, but recognizing some oversold and many speculative upsides. After many negative moves traders and algorithms pushed to buy dips. Will that last – NO and it didn’t. “
While U.S. stocks closed lower on Tuesday, pulling back from record highs set earlier in the session, as investors weighed the possibility of a government shutdown.
Equities are off to a strong start for the year, with the Dow, S&P 500 and NASDAQ composite jumping at least 3.8% in 2018. A stronger U.S. economy, tax reform, and optimism maid the corporate earnings season have been key catalysts for the market<CNBC>.
The advance/decline line scenario of 40 SCGT & RT covered companies:
· The open was positive with an A/DL of 25/15 and 0 flat ;
· The mid-day was negative with an A/DL of 9/30 and 1 flat;
· The close was negative with an A/DL of 9/31 and 0 flat;
MY working trend lines or indications:
… The greatest volume to the downside: JUNO, XON, SGMO, VTGN and RENE.L
… Upside volume was weighted to: NWBO, FCSC, ADVM, MDXG and
… Biggest $ downside: BLUE (-$7.35), JUNO (-$3.15), RGNX (-$2.75), CLLS (-$1.54) and ONCE (-$1.34)
… Largest $ upside: ADVM (+$0.40), MDXG (+$0.08), CLBS (+$0.08), OSIR (+$0.05) and FCSC (+$0.048)
… Flat: NONE
Pre-open indications:
Applied Genetic Technologies (AGTC) closed down -$0.20 – hit;
Capricor (CAPR) closed down -$0.08 – hit;
Intrexon (XON) closed down -$0.94 – hit;
Pluristem (PSTI) closed down -$0.02 – hit;
Sangamo Therapeutics (SGMO) closed down -$1.00 – hit;
Vericel (VCEL) closed down -$0.38 – hit;
Verastem (VSTM) closed down -$0.05 – miss;
Of interest: MiMedx Group (MDXG) Top-line results from this study are expected in the second half of 2019. Following the conclusion of this trial, MDXG intends to file a Biologic License Application (BLA) with the U.S. FDA for AmnioFix® Injectable to treat moderate to severe plantar fasciitis pain that has failed conservative treatment for at least 30 days. MDXG projects the filing of the BLA related to plantar fasciitis will be in 2020.
This P3, prospective, double blinded, randomized controlled trial will enroll approximately 164 patients at 15 centers. Patients will be randomized 1:1 into two treatment groups; a single injection of saline (placebo control) or a single injection of 40mg of AmnioFix Injectable. The primary efficacy endpoint is the change in Visual Analog Scale (VAS) score between baseline and day 90, expressed as the difference in means between the two groups.
The primary safety endpoint is the incidence of adverse events, serious adverse events, and unanticipated adverse events during the first 180 days post injection in the AmnioFix Injectable group versus the placebo-controlled group.
Rumor: Celgene (CELG) is in talks to buy Juno Therapeutics (JUNO), the Wall Street Journal reported. (http://on.wsj.com/2EMlysO)
Out and about: Biostage (BSTGD) This management team WIPED OUT 20 M of holder’s shares and investment!
Opened at $2.14 (previous closed $2.14) closed +$0.06 or +2.8% in a day’s range of $2.14 to $2.20 to close at $2.20 with low 14,243 shares traded. This follows the projected $1.32 post the 1-to-20 reverse split – a $4 M in-flow just followed a $30 M investment loss incurring a $47 M deficit!
NO scientists, a CEO, CFO and 2 accountants don’t make a company who couldn’t pay their rent or communicate their issues to past “fleeced” shareholders …
I am NOT “eating” my negative declaration, my OPINION is still “COVER UP of male and female harassment and corporate MISDEEDS “by members of management team!
What did happen to (reasons) and the story “around” the IND NOT being filed and the cmo and president leaving the company? NEVER forget the storyline of the 2 broken financings before the reverse split!
Latest SWC filing: http://app.quotemedia.com/data/downloadFiling?webmasterId=101533&ref=11980760&type=HTML&symbol=BSTGD&companyName=Biostage&formType=3&dateFiled=2018-01-10&cik=0001563665 . Notice the lack of executive names ??
Daily analytics:
The Dow closed marginally lower on Tuesday after the blue-chip index relinquished all its early gains in the sharpest daily reversal in nearly two years <FactSet>. In early trade, the Dow was up more than 1% and set an intraday all-time high above 26,000. But the rally petered out as investors weighed political developments against quarterly earnings reports and economic data — both presently underpinning Wall Street’s optimism.
· The Dow closed off 10.33 points, or less than 0.1%, to 25,792.
· The S&P 500 closed down 9.82 points, or 0.4%, to 2,776.
· The NASDAQ declined 37.38 points, or 0.5%, to 7,223.69.
The CBOE Volatility Index (VIX) widely considered the best gauge of fear in the market, Tuesday traded at 11.66, up +14.76% …
- Friday traded at 10.15, up +2.73%, Monday was MLK day, Thursday traded a t9.87, up +0.51% after Wednesday traded at 9.82, down -2.58% after last Tuesday traded at 10.08, up +5.88% …
Welcome to another day of the sector’s roller coaster …
… The iShares Russell 2000 (IWM) indicated:
· Tuesday was down -1.25%
· Monday was a market holiday;
· Friday was +0.40%
· Thursday was +1.69%
· Wednesday was +0.01%
· Last Tuesday was -0.14%
… The iShares NASDAQ Biotechnology (IBB) indicated:
· Tuesday was down -1.38%
· Monday was a holiday;
· Friday was up +0.67%
· Thursday was up +0.29%
· Wednesday was up +0.45%
· Last Tuesday was up +1.88%
The count - decliners versus gainers:
……. look at the differences in decliners:
· Tuesday’s decliners ranged from -0.61% <ISCO -$0.01> to -9.03% <RGNX -$2.75> in 31 equities;
· Monday was a holiday;
· Friday’s decliners ranged from -0.51% <ATHX -$0.01> to -7.28% <CYTX -$0.028> in 21 equities;
· Thursday’s decliners ranged from -0.17% <BLUE -$0.30> to -6.47% <ADVM -$0.009> in 15 equities;
· Wednesday’s decliners ranged from -0.17% <BLFS -$0.01> to -13.23% <KOOL -$0.50 > in 18 equities;
· Last Tuesday’s decliners ranged from -0.28% <JUNO -$0.14> to -5.84% < BLCM -$0.55> in 18 equities;
Versus
… Look at the percentage’s (%) and spreads …
· Tuesday’s gainers ranged from +0.58% <MDXG +$0.08> to +10.13% <ADVM +$0.40> in 9 equities;
· Monday was a holiday;
· Friday’s gainers ranged from +0.67% <BLCM +$0.06> to +11.27% <XON +$1.49> in 19 equities;
· Thursday’s gainers ranged from +0.34% <BLCM +$0.03> to +12.67% <ISCO +$0.19> in 22 equities;
· Wednesday’s gainers ranged from +0.11% <BLCM +$0.01> to +10.12% <NWBO +$0.031> in 20 equities;
· Last Tuesday’s gainers ranged from +0.68% <VSTM +$0.02> to +12.84% <KOOL +$0.43> in 22 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.
