November 8, 2018 5:58pm
Quarterly reporting closing pricings: Adverum Biotechnologies (ADVM +$0.05), Histogenics (HSGX +$0.01), BioTime (NTSEMKT: BTX -$0.11), Applied Genetic Technologies (AGTC +$0.21), Intrexon (XON -$0.12), BioLife Solutions (BLFS +$0.16), Caladrius Bioscience (CLBS +$0.32), Pluristem (PSTI -$0.01), Sangamo Therapeutics (SGMO -$0.58), Stemline Therapeutics (STML -$0.36) and Biostage (BSTG -$0.10)
Pre-open indications: 3 HITs and 2 MISS
Mixed view of the crispers – crispy or fried: CRSP -$1.15, EDIT +$1.36 and NTLA -$0.05
Who is defining the metrics for individual investors?
The next few weeks trading sessions will be critical for the RegMed sector which will establish whether market reaction this month is temporary and short-lived, or if this is the start of a more fundamental correction.
I stay INDEPENDENT to give investors the “facts as placed in evidence” which seems to be MY byline!
A “buck” a day keeps your portfolio in the play – you should be a subscriber … you could continue reading to the future!
Daily analytics and metrics:
- The Dow closed up +10.92 points or +0.04% to 26,191.22
- The S&P closed down -7.06 points or -0.25% to 2,806.83
- The NASDAQ closed down -39.87 points or -0.53% to 7,530.88
From the pre-open newsletter, “proceed with caution, quarterly results are proceeding in a continuing battle of consensus, expectation and estimates.”
The advance/decline line scenario of 45 covered companies:
- The open was positive with an A/DL of 23/121 and 1 flat;
- The mid-day was negative with an A/DL of 20/23 and 2 flats;
- 2 p.m. was negative with an A/DL of 18/23 and 4 flats;
- The close was negative with an A/DL of 19/26 and 1 flat;
Pre-open indications: 3 HITs and 2 MISS
- CRISPER Therapeutics (CRSP) closed down -$1.15 – miss;
- Editas Medicine (EDIT) closed up +$1.36 – hit;
- Verastem (VSTM) closed down -$0.13 – miss;
- Vericel VCEL) closed down -$0.49 – hit;
- Voyager Therapeutics (VYGR) closed down -$1.68 – hit;
Five (5) key metrics:
… Greatest volume to the downside: MDXG, VSTM, SGMO, VCEL and ALNY
… Upside volume was weighted to: EDIT, BOLD, ONVO, AST and ONCE
… Weakness ($) to the downside: RGNX (-$4.83), ALNY (-$3.01), MDXG (-$2.56), VYGR (-$1.68) and IONS (-$1.53)
… Best moves ($) to the upside: SAGE (+$2.84), EDIT (+$1.36), RARE (+$1.08), SLDB (+$0.97) and BOLD (+$0.70)
… The iShares NASDAQ Biotechnology (IBB) closed:
- Thursday was down -0.77% after NOT indicating in the pre-market;
- Wednesday was up +2.3% after NOT indicating in the pre-market;
- Tuesday was up +0.44% after NOT indicating in the pre-market;
- Monday was down -0.06% after indicating a positive +0.13% in the pre-market;
- Friday was up +0.03% after indicating a negative -0.06% in the pre-market;
- Last Thursday was up +3.84 % after indicating a positive +0.9% in the pre-market;
Sector equities closed lower on Thursday – the day after the midterm, lifting a cloud of uncertainty that was weighing on the market.
The Fed kept interest rates unchanged, as was widely expected. However, the central bank said in a statement it expects "further gradual increases" in the overnight rate. The Fed also did not mention the volatility that has hit the market recently <CNBC>.
My beginning month “sucker’s bet financing call of HSGX advanced Thursday +$0.01 after Wednesday’s -$0.026 to $0.535) still going nowhere
Monday’s sell call of BLUE with Thursday’s -$1.25 after Wednesday’s -$1.24 to $133.67 is ringing true
Tuesday’s ATHX call posting re the reporting and Helios deal negations ATHX (-$0.07 on Thursday after Wednesday’s -$0.08 to $1.96) didn’t go UNHEEDED!
While BOLD advanced +$0.70 after Wednesday’s -$5.33 to $24.23 and missed expectation
SAGE fulfilled my BUY call up again +$2.84, finally while GBT fell -$0.90 after Wednesday’s +$2.05 to $41.69 after Tuesday’s $39.64 and Monday’s $38.52 - it did beat expectation
I still FRET about VCEL’s upside journey (today’s was down -$0.49 after Wednesday’s +$0.44 ($17.09) and Tuesday’s +$5.11 ($16.65) from Monday’s $11.54– reminded me of the Icarus’ myth!
CLBS closed up +$0.32 before reporting Q3 after Wednesday’s -$0.10 to $4.89, 10/31 saw $4.67 – having seen a low of $4.29 and a high of $5.77. CLBS reported a net loss of $3.5 M, or $0.36 per share, compared with $3.5 M, or $0.38 per share and …
… I will admit I was WRONG as R&D and SG&A decreased in Q3 …
I also believe (*MY opinion*) that Biostage (BSTG -$0.110 to $3.20 with 206 shares traded – so much interest in the company <sarcasm>) is still a ship ready to sink by the continuation of a “diseased” management team that mismanaged an opportunity by not being truthful of their internal conditions and unaware of financing effects to PAST shareholders and FOUNDING stakeholders – let’s not forget the terminal death suit! BSTG added 2 new directors – check the D&O insurance coverage!
CUR (-$0.0143 to $0.55) and KOOL (-$0.0007 to a “ripe” $0.29) both ought to be flushed away!
- Review the range of the 19 upside from +0.35% (FIXX) to +24.53% (AST +$0.26) while the 26 downside ranged from -0.24% (KOOL -$0.0007) to -41.16% (MDXG) with 1 flat closes (RENE.L).
Decreasing volume stat:
- 7 out of 19 of the upside had higher (than the 3 month average) volume
- 10 out of the 26 downside experienced greater volume (than the 3 month average).
Thursday closed NEGATIVE with 26 decliners, 19 advancers and 1 flat;
Wednesday closed POSITIVE with 12 decliners, 32 advancers and 1 flat;
Tuesday closed NEGATIVE with 22 decliners, 21 advancers and 2 flats;
Monday closed NEGATIVE with 35 decliners, 7 advancers and 3 flats;
Friday closed POSITIVE with 20 decliners, 22 advancers and 3 flats;
Thursday (11/1) closed POSITIVE with 3 decliners, 42 advancers and 0 flat;
- In 23 sessions in October – there were 17 negative closes and 6 positive closes
- In 19 sessions in September – there were 10 negative closes and 9 positive close;
- In 21 August sessions – 6 had negative and 15 had positive closes
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.