July 12, 2018 5:53pm
After a positive open, a neutral mid-day, a rebounding close
The issue, most of the upside moves come on low volume shadowed by greater volume to the downside
Pre-open indications: 3 HIT and 1 MISS
Out and about: Ionis Pharmaceuticals’ (IONS) and Akcea Therapeutics (AKCA) Tegsedi received Marketing Authorization in the EU announced the approval of their marketing authorization application (IONS +$0.42)
I personally believe that a reputational measure needs to be introduced versus the “spins” practiced by more than some companies
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It’s an honor to be considered the “canary in the (sectors) coal mine”! I post about “indication intelligence” devoting my time to collection and analysis of information to assist investors in the perception of sector vulnerabilities and strengths – it’s more than opinion, the facts and truth need to be recognized!
Henry’omics:
What did I say yesterday … “expect more volatility moving forward on the conveyor belt of share pricing!”
Sector equities rebounded from a shaky mid-day as volume remains low.
Review this week’s closes: there “fighting” to stay up …
- Thursday closed POSITIVE with 19 decliners, 24 advancers and 2 flat;
- Wednesday closed POSITIVE with 18 decliners, 24 advancers and 3 flat;
- Tuesday closed NEGATIVE with 29 decliners, 15 advancers and 1 flat;
- Monday (7/9) closed POSITIVE with 18 decliners, 22 advancers and 5 flat;
From the pre-open newsletter titled, “another rebound; momentum is on the side of the undervalued as the IBB is up +0.28%; yet anxiety and nervousness remains an undercurrent.”
I also stated, “Investors seem to be more laid-back re their approach to the remainder of the week after yesterday’s upside movement! When one gets lazy, distracted or just accepts the distortions in the sector's perception of valuation versus stock pricing - start selling! Even though, I'm looking at being lazy - today - I'm NOT counting but, waiting for my "cards" to play-out!”
Of the 45 companies covered on Thursday; 19 downside equities finished in a range of -$0.03 (OVVO) to -$6.45 (RGNX) while the 24 upside equities oscillated from +$0.01 (BSTG) to $3.20 (BMRN) with 2 flat closes.
Out and about: Ions Pharmaceuticals (IONS) continued …
Yesterday’s approval of Tegsedi was based on data from NEURO-TTR, a P3 study evaluating the use of the drug in patients with hereditary transthyretin amyloidosis with symptoms of polyneuropathy.
- The study showed that Tegsedi substantially reduced transthyretin protein levels, irrespective of mutation type.
- Tegsedi is under regulatory review in the US and Canada. Its Prescription Drug User Fee Act date is October 6.
MY working trend (5 largest) lines:
… The greatest volume to the downside: ADVM, SGMO, RGNX, ONVO and EDIT
… Upside volume was weighted to: MDXG, VSTM, KOOL, BMRN and VCEL
… Biggest $ downside: RGNX (-$6.45), SLDB (-$1.21), RENE.L (-$0.50), OSIR (-$0.28) and BOLD (-$0.28)
… Best moves to the $ upside: BMRN (+$3.20), SAGE (+$2.56), ALNY (+$2.17), BLUE (+$1.95) and BLFS (+$1.80)
… Flats: PSTI and HSGX
The weekly count - decliners versus gainers – looks at the view from different angles:
……. look at the differences in decliners:
- Thursday’s decliners ranged from -2.17% <ONVO -$0.03 > to -7.94% <RGNX -$6.45 > in 19 equities;
- Wednesday’s decliners ranged from -0.08% <QURE -$0.03 > to -7.56% <FIXX -$1.70 > in 18 equities;
- Tuesday’s decliners ranged from -0.11% <VYGR -$0.02 > to -17.44% <BSTG -$0.75 > in 29 equities;
- Monday’s decliners ranged from -0.30% <MDXG -$0.01 > to -6.35% >VTGR -$1.25> in 18 equities;
- Friday’s decliners ranged from -0.05% <BOLD -$0.02 > to -10.9% < MDXG -$0.41> in 8 equities;
- Last Thursday’s decliners ranged from -0.18% <BLFS -$0.03 > to -5.51% < MDXG -$0.22> in 18 equities;
Versus
… Look at the percentage’s (%) and spreads …
- Thursday’s gainers ranged from +0.25% < BSTG +$0.01> to +3.20% <BMRN +$3.30> in 24 equities;
- Wednesday’s gainers ranged from +0.08% <EDIT +$0.03> to +22.22% < RENE.L +$18.00> in 24 equities;
- Tuesday’s gainers ranged from +0.16% <KOOL -$0.007 > to +7.88% < VSTM +0.57> in 15 equities;
- Monday’s gainers ranged from +0.23% <MESO +$0.01 > to +1.79% <BLUE +$3.05 > in 22 equities;
- Friday’s gainers ranged from +0.31% <CLLS +$0.09 > to +8.5% < SLDB +$3.31> in 35 equities;
- Last Thursday’s gainers ranged from +0.03% <EDIT +$0.01> to +9.46% < KOOL +$0.0038> in 23 equities;
Daily analytics and metrics:
- The NASDAQ rose 1.4% or +107.31 points to 7823.92to
- The Dow rose +0.91% or 224.44 points to 24,924.89
- The S&P 500 gained 0.9% or +24.27 points to 2798.29
The advance/decline line scenario of 45 covered companies:
- The open was positive with an A/DL of 22/19 and 4 flats;
- The mid-day was neutral with an A/DL of 21/21 and 3 flats;
- The close was positive with an A/DL of 24/19 and 2 flats;
Pre-open indications: 3 hit and 1 miss
- Asterias Biosciences INYSEMKT: AST) closed up +$0.175 – hit;
- CRISPR Therapeutics (CRSP) closed up +$0.86 – miss;
- Editas Medicine (EDIT) closed down -$0.15 – hit;
- Intellia (NTLA) closed up +$1.08 - hit;
The CBOE Volatility Index (VIX) widely considered the best gauge of fear in the market,
- Thursday traded at 12.59, down -7.63 %
- Wednesday traded at 13.63, up +7.83%
- Tuesday traded at 12.64, down -0.39%
- Monday traded at 12.69, down -5.09%
- Friday traded at 13.37, down -10.69%
- Last Thursday traded at 15.15, down -6.13%
The iShares Russell 2000 (IWM) closed:
- Thursday was up +0.47%;
- Wednesday was down -0.82%;
- Tuesday was down -0.48%;
- Monday was up +0.64%;
- Friday was up +0.85%;
- Last Thursday was up +1.15%;
The iShares NASDAQ Biotechnology (IBB) closed:
- Thursday was up +1.17%
- Wednesday was down -0.29%
- Tuesday was down -0.17%
- Monday was up +0.52%
- Friday was up +3.78%
- Last Thursday was up +1.26%
JULY sessions:
- Thursday closed POSITIVE with 19 decliners, 24 advancers and 2 flat;
- Wednesday closed POSITIVE with 18 decliners, 24 advancers and 3 flat;
- Tuesday closed NEGATIVE with 29 decliners, 15 advancers and 1 flat;
- Monday (7/9) closed POSITIVE with 18 decliners, 22 advancers and 5 flat;
- Friday closed POSITIVE with 8 decliners, 35 advancers and 2 flat;
- Last Thursday closed POSITIVE with 18 decliners, 23 advancers and 4 flat;
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.
