September 21, 2018 6:17pm
The quadruple witch swept the sector’s floor; out went many of the new highs especially in the Crisprs
As I had stated, “buckle-up” while many of my past week’s “predictions” have come full circle!
Pre-open indications: 9 HITs and 4 MISS
Out and about: The Crisprs; NTLA (-$4.73 or -15.01%), CRSP (-$4.50 or -9.19%) and EDIT (-$2.47 or -7.58%) were swept in the dust of CRSP’s financing as one analyst calls it – “crispy and overcooked”
Who is putting the facts into evidence for the metrics to "speak" to individual investors and which broker, trader, fund or I-Bank is keeping you notified of the sector and market fluctuations?
RMi’s daily report may say little or a lot and its final judgement may be inconclusive; yet it serves as insurance that all indications are being examined and evaluated.
Henry’omics:
The tile says … it all; why revel in the obvious!
I am expecting continuous moves to the downside when the sector starts next week as the month end and Q3 closes.
From the pre-open newsletter: “buckle up. Two major market events have the potential to send equity volumes higher will strike on Friday. The first is the quarterly event known as “quadruple witching” -- when futures and options on indexes and individual stocks expire. That generally results in some of the biggest trading days of the year. But today brings a wild card -- the largest revision to the Global Industry Classification Standard (GICS) since 1999.”
Daily analytics and metrics:
- The DOW closed up +86.52 points or +0.32% to 26,743.50
- The S&P closed down -1.08 points or -0.04% to 2,929.67
- The NASDAQ closed down -41.28 points or -0.51% to 7,986.96
The advance/decline line scenario of 45 covered companies:
- The open was negative with an A/DL of 16/26 and 3 flats;
- The mid-day continued negative with an A/DL of 12/31 and 2 flat;
- The close was negative with an A/DL of 11/32 and 2 flats;
Pre-open indications:
ADVM closed up +$0.15 – hit;
AXGN closed down -$0.15 – hit;
BLUE closed down -$1.55 – hit;
BSTG closed up +$0.05 – miss – the reverse split “criminals” will soon face the courts – MY opinion. Actually their already being deposed on their terminal death suit;
CLBS closed down -$0.55 – hit – remember that “egg salad sandwich” gone bad and ptomaine for your portfolio;
CRSP closed down -$4.50 – hit;
EDIT closed down -$2.47 – hit;
FATE closed up +$0.54 – miss;
MDXG closed up +$0.13 – miss – too many criminal proceedings and a claw back to the founder?;
NTLA closed down -$4.73 – hit;
ONCE closed down -$1.63 – miss;
QURE closed down -$2.68 – hit;
VCEL closed down -$0.60 – hit;
Of the 45 companies covered on Friday; 32 downside equities finished in a range of -0.21% (XON) to -15.01% (NTLA) while 11 upside equity oscillated from +0.99% (HSGX) to +6.05% (BTX) with 2 flat closes (AGTC and RENE.L).
Out and about:
Shares of CRISPR Therapeutics (CRSP) fell 9.19% today after Wednesday’s proposed offering. CRSP offered 4.84 million shares of common stock priced at $47.50 for gross proceeds of more than $230 million increasing the number of shares outstanding by approximately 10%.
While investors know that CRSP exited Q2 with $320 M in cash the share offering is a smart move for multiple reasons – one if they can’t get their trials approved.
The 52 week pricing change was up +158.25%. It's wise to take advantage of its superior market value.
The aftermarket indicates a positive +$0.28 or +0.63% -
Five (5) key metrics:
… The greatest volume to the downside: CRSP, VSTM, XON, NTLA and ONVO
… Upside volume was weighted to: MDXG, FATE, HSGX, BTX and ATHX
… Leadership ($) to the downside: NTLA (-$4.73), CRSP (-$4.50), QURE (-$2.68), BMRN (-$2.56) and EDIT (-$2.47)
… Best moves ($) to the upside: FIXX (+$1.16), FATE (+$0.54), STML (+$0.30), OSIR (+$0.16) and BTX (+$0.15)
The iShares NASDAQ Biotechnology (IBB) closed:
- Friday was down -0.62%
- Thursday was up +1.39%
- Wednesday was up +0.13%
- Tuesday was up +1.12%
- Monday was down -1.32%
- Last Friday was down 0.51%
September sessions:
Friday’s closed NEGATIVE with 32 decliners, 11 advancers and 2 flat
Thursday’s closed POSITIVE with 10 decliners, 34 advancers and 1 flat
Wednesday’s closed POSITIVE with 18 decliners, 24 advancers and 3 flats
Tuesday’s closed POSITIVE with 7 decliners, 36 advancers and 2 flats
Monday’s closed NEGATIVE with 31 decliners, 12 advancers and 2 flats
Friday’s closed POSITIVE with 19 decliners, 23 advancer and 3 flats
Thursday’s closed NEGATIVE with 22 decliners, 20 advancer and 3 flats
Wednesday’s closed POSITIVE with 20 decliners, 25 advancer and 0 flats
Tuesday’s closed POSITIVE with 20 decliners, 23 advancer and 2 flats
Monday’s closed NEGATIVE with 28 decliners, 17 advancer and 2 flats
Friday’s closed POSITIVE with 15 decliners, 23 advancer and 7 flats
Thursday’s closed NEGATIVE with 39 decliners, 1 advancer and 5 flats
Wednesday’s closed NEGATIVE with 30 decliners, 12 advancers and 3 flats
Tuesday’s (9/4) closed NEGATIVE with 22 decliners, 19 advancers and 4 flats
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.
