January 30, 2018 5:40pm
Sector intelligence and perspective
I recommended getting out ahead of a sell-off … today was “quant” driven
Sector opened negative, stayed down at the mid-day and closed to the downside with an advance/decline line (A/DL) of 7/28 and 5 flat;
The IBB (-1.88%), XBI (-2.05%), XLV (-2.14%), IWM (-0.96) and NASDAQ (-0.86%) submerged while the VIX soared to 14.85, up +7.30%
Pre-open indications: 6 hits and 3 miss
Out and about: Bellicum Pharmaceuticals (BLCM -$0.48 and is down -$3.40 or -41.46% in the aftermarket) has received notice from the FDA that U.S. studies of BPX-501 have been placed on a clinical hold following three cases of encephalopathy deemed as possibly related to BPX-501.
Gene therapy companies AGTC ($0.00) was flat, BOLD (-$0.51), ONCE (-$0.34) dived after a report by a prominent scientist revealed the safety concerns that led him to resign recently from Solid Bioscience Inc.'s (SLDB -$1.20) scientific advisory board. Gene therapy researcher James Wilson, a giant in the field, quit the board ahead of its IPO because of the possible risks of high systemic dosing of AAV – except AVXS (+$1.55), ADVM (+$0.40), QURE (+$0.74) and BLUE (+$1.45).
The Biostage (BSTG +$0.00) chronicles … don’t be fooled by surges of day trading
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