September 24, 2018 6:22pm

The sector recovered but, the combinations of high I-Bank valuations inability to be met, generally low volumes, easy liquidity and lack of confidence as the month and Q3 comes slowly to an end; the sector can only go backwards without news and comparable stimulating events – over the next weeks!

Pre-open indications: 1 HIT

Out and about: Applied Genetic Technologies (AGTC) jumped +$0.60 or +13.64% to $5.00 after a report of a comparable Nightstar Therapeutics PLC (NITE) released initial data from a P1/2 study of its product candidate NSR-RPGR that showed multiple patients achieved an improvement in microperimetry. I’d be asking more than a few questions if investors understood their being late on their trials!

Verastem Oncology (VSTM $0.24) is up on +2.77% with higher volume 3.19 M shares <versus 3 month average of 2.19 M> in response to FDA accelerated approval for duvelisib, branded as COPIKTRA, for the treatment of relapsed/refractory chronic lymphocytic leukemia (CLL) or small lymphocytic lymphoma (SLL) after at least two prior lines of therapy.

               

RMi is putting the facts into evidence for the metrics to “speak” to individual investors notifying them about 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:

Sector equities gyrated Monday on worries of more political turmoil out of the White House ahead of crucial midterm elections where the Republican party is trying to hold onto both houses of Congress. Equities were also under pressure by the cancellation of U.S.-China trade talks.

From the pre-open newsletter: “

Intrexon (XON) closed up +$5.12 – hit;

 

Daily analytics and metrics:

  • The DOW closed down -181.45 points or -0.68% to 26,562.05
  • The S&P closed down -10.30 points or -0.35% to 2,919.37
  • The NASDAQ closed up +6.29 points or +0.08% to 7,993.25

 

The advance/decline line scenario of 45 covered companies:   

  • The open was positive with an A/DL of 32/13 and 0 flats;
  • The mid-day continued positive with an A/DL of 24/20 and 1 flat;
  • The close was positive with an A/DL of 28/13 and 4 flats;

 

Pre-open indications:

  • Intrexon (XON) closed up +$4.20 – hit;

 

Of the 45 companies covered on Monday;13 downside equities finished in a range of -0.21% (BMRN) to -7.22% (BTX) while 28 upside equity oscillated from +0.05% (VYGR) to +% () with 4  flat closes (BOLD, RENE.L, CUR and PSTI).

 

Out and about; AGTC …

MY view – one comparable comparison will not pass muster, watch for the upside to be kicked to the curb! In regard to the Wells Fargo report, they’re just trying to solidify a banking/offering relationship which AGTC is going to need!

I am NOT THE ONLY ONE questioning AGTC; it traded in a day’s range of $4.70 to $5.75 to close at $5.00 with high volume of 1,218,368 M shares <average 3 month volume = 87.8 K shares> - MANY traded the high in vote of a MAYBE … I’d be a SELLER to SKIM the upside that I believe WON’T last!

 

Five (5) key metrics:  

… The greatest volume to the downside:  MCXG, BMRN, BTX, BLUE and ALNY

… Upside volume was weighted to:  XON, VSTM, FATE, SGMO and AGTC

… Leadership ($) to the downside:  SAGE (-$3.38), SLDB (-$1.60), ALNY (-$1.31), BLUE (-$0.90) and MDXG (-$0.33)

… Best moves ($) to the upside:  XON (+$4.570, RARE (+$3.77), RGNX (+$2.40), QURE (+$2.40) and FATE (+1.71)

 

The iShares NASDAQ Biotechnology (IBB) closed:

  • Monday was up +1.19%
  • Friday was down -0.62%
  • Thursday was up +1.39%
  • Wednesday was up +0.13%
  • Tuesday was up +1.12%
  • Last Monday was down -1.32%

 

September sessions:

Monday’s closed POSITIVE with 13 decliners, 28 advancers and 4 flat 

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.