Indication intelligence, analysis and sector perception

RegMed Investors’ (RMi) closing bell: what markets give, they also take-away

December 7, 2018 6:04pm

The sector opened up and steadily declined throughout the session wiping-out Thursday’s upside with a strong downside and pathetic upside

Out and about: Moderna (MRNA) failed to impress with its $23.00 per share offering after struggling to find its footing in the market. The stock MRNA closed down -$4.40 or 19.13% to $18.60 from its $22.00 opening price yet it raised $600 + M with a market cap of $7.5 B. MRNA had originally planned to sell 21.7 M shares for between $22 and $24 per share, but on Thursday raised its offering by 21% to roughly 26.3 M shares. Global Blood Therapeutics (GBT -$4.01 or -8.60% to $42.65) was offered at $44.00 – funny, how they didn’t announce the pricing to the public.

Pre-open indications: 1 HIT and 4 MISS

Investors should be reading about the ... realities and statistics in evidence – be a subscriber!

The Strange Case of Dr. Jekyll and Mr. Hyde might make for a great read, but it’s far less fun when the markets act like it’s their blueprint. Stocks have lately been alternating between the horrific and the benign.

Daily analytics and metrics:

The Dow closed DOWN -558.72 points or -2.24% to 24,388.95
The S&P closed DOWN – 62.87 points or -2.33% to 2,633.08
The NASDAQ was DOWN -219.01 points or -3.05% to 6,969.25

From the pre-open newsletter: “finding a new bottom? Rephrasing a Red Sox quote from Stephen King, the horror stories author: “The sector had hit a bottom; then, they discovered the basement BELOW the bottom.’’

The advance/decline line scenario of 45 covered companies:

The open was positive with an A/DL of 8/31 and 6 flats;
The mid-day slipped negative with an A/DL of 9/35 and 1 flat;
The close was negative with an A/DL of 11/33 and 1 flat;

Pre-open indications: 1 HIT and 4 MISS

CRSP closed down -$0.86 – miss;
EDIT closed down -$1.30 – miss;
NTLA closed down -$0.61 – miss;
SAGE closed down -$3.10 – miss
Global Blood Therapeutics (GBT) closed down -$4.01 – hit;

Daily sector metrics:

… Greatest volume to the downside: MDXG, GBT, VSTM, SGMO and IONS

… Upside volume was weighted to: HSGX, FATE, ONVO, OSIR and VYGR

… Weakness ($) to the downside: BLUE (-$6.62), ALNY (-$5.35), GBT (-$4.01), RARE (-$3.83) and RGNX (-$3.73)

… Best moves ($) to the upside: FATE (+$0.80), OSIR (+$0.60), FIXX (+$0.47), AGTC (+$0.19) and BSTG (+$0.10)

… The iShares NASDAQ Biotechnology (IBB) closed:

Friday was down -3% after NOT indicating in the pre-market;
Thursday was up +0.16% after indicating a NEGATIVE -1.36% in the pre-market;
Wednesday was a national Day of Mourning – markets closed;
Tuesday was DOWN -3.30% after indicating a NEGATIVE -0.2% in the pre-market;
Monday was UP +1.15% after indicating a POSITIVE +1.74% in the pre-market;
Last Friday was UP +1.50% after NOT indicating in the pre-market;

Henry’omics:

Sector equities dropped sharply on Friday after a positive open, concluding what has been a wild week. A weaker-than-expected jobs report and China-U.S. trade tensions sent the NASDAQ S&P and Dow lower and erased gains for the year to date.

For the week, the major indexes all dropped more than 4%. Thursday's session included a violent drop of nearly 800 points, followed by a strong rebound from those levels. This week was also the worst for the indexes since March.

The CRISPRS – CRSP was down again -$0.86 after Thursday’s -$0.42 after Tuesday’s (-$3.50 or -8.79%), EDIT was down again -$1.30 after Thursday’s -$0.80 after Tuesday’s (-$1.30 or -4.09%) and NTLA slipped -$0.61 after Thursday’s up +$0.12 after news of collaboration continuance with Novartis (NVS) after Tuesday’s (-$1.88 or -10.28%) as I have stated – a trading stocks!

Tonight’s percentage (%) indicators:

Review the range of the 11 upside from +0.0 % (IONS) to +% () while the 33 downside ranged from -0.42% (CLBS) to -10.42% (SLDB -$2.99) with 1 flat close (RENE.L).

Volume stat:

4 out of 11 upside had higher (than the 3 month average) volume
11 out of 33 downside experienced greater volume (than the 3 month average).

December sessions:

Friday closed NEGATIVE with 33 decliners, 11 advancers and 1 flat;

Thursday closed POSITIVE with 20 decliners, 22 advancers and 3 flats;

Wednesday markets were closed;

Tuesday closed NEGATIVE with 36 decliners, 7 advancers and 2 flats;

Monday (12/3) closed POSITIVE with 10 decliners, 32 advancers and 3 flats;

In 22 sessions in November – there were 1 holiday, 10 positive closes, 1 neutral and 10 negative closes;
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.

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Insight, foresight and recommendation

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Editor and Publisher ... Henry McCusker enters his tenth (10th) year at RegMed Investors with past experience in sell-side analysis, buy-side management, corporate management and due diligence.

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Henry McCusker, the editor and publisher of RegMed Investors does not hold or have positions in securities referred to in this publication.