RegMed Investors’ (RMi) closing bell: a shorten session that went deep to the downside yet, the sector saw some upside

December 24, 2018 6:16pm

While the IBB (-1.38%) flickered to the downside

Pre-open indications: 3 HITs

Out and about: Histogenics (HSGX - $0.34 or -72.34 to $0.13) dives further; remember I stated the latest offering was a “sucker’s bet” financing new 26.15 M shares and 19.6 M warrants at $0.65. This BOD and management should lower their heads in shame! Bankruptcy or a sale of the “shell” in next, that’s after they “pay-off” those who initiated the financing not recognizing their failure of the P3 and “too long a reach” negotiations with the FDA. Blame the chairman and his BOD entourage for NOT listening for years! Biostage (BSTG -$0.15 or -6.98%) closed down again – another company bringing down “the label of hope and promise” of the sector suffers from the same disease (failure to recognize their limitations).

Investors should be reading about today’s final “figures” – be a subscriber and be ready for Wednesday’s session!

The last eight (8) session’s trend is an admission that the sector is without any pricing sustainability which suppresses any value directional …

Daily analytics:

• The Dow closed down -653.17 points or -2.91% to 21,792.20
• The S&P closed down -65.52 points or -2.71% to 2,351.10
• The NASDAQ was down -140.08 points or -2.21% to 6,192.92

Henry’omics:

I am surprised I am even writing this on Christmas Eve … it follows my motto of “Never leave an investor behind” which reminds me of MY claim to fame … “Duty, Honor and Shareholders”!

An UGLY session for the broader indexes as the sector at least fulfilled my a.m. post, “What do I want for Christmas (?) – “… a rebound of the oversold and at the minimum - pennies for my portfolio!”

Applied Genetic Technologies Corporation (AGTC) closed up +$0.18 starts to fulfil my BUY;

• AGTC still has $105 M in cash and there is $6.81 in total cash per share.  BIIB has already paid out around $146 million during the collaboration and will contribute funding through to March 8 of next year, when the contract comes to an end

From the pre-open newsletter: “Let's all say thank you; if could have been worse and forget ... for a few days!”

The advance/decline line scenario of 45 covered companies:   

• The open was negative with an A/DL of 13/29 and 3 flat;
• The shortened close was actually positive with an A/DL of 23/21 and 1 flat;

Pre-open indications: 3 HITs

• CRISPER Therapeutics (CRSP) closed UP +1.69 – hit, I’d said trade it;
• Editas medicine (EDIT) closed UP +$1.34 – hit, I’d said trade it;
• Intellia (NTLA) closed UP +$0.61 – hit, I’d said trade it;

Daily sector metrics: rebalancing

… Greatest volume to the downside:  HSGX, MDXG, BMRN, BOLD and ALNY

… Upside volume was weighted to:  VSTM, EDIT, SGMO, XON and CRSP

… Weakness ($) to the downside:  ONCE (-$2.31), QURE (-$0.93), BLUE (-$0.84), BMRN (-$0.78) and BOLD (-$0.64)

… Barely any moves ($) to the upside:  GBT (+$1.76), CRSP (+$1.69), SAGE (+$1.630, EDIT (+$1.34) and IONS (+$0.72)

… The week’s history lesson, the iShares NASDAQ Biotechnology (IBB) closed:

• Monday was down -1.38% after NOT indicating in the pre-market;
• Friday was down -3.91% after NOT indicating in the pre-market;
• Thursday was down -1.71% after indicating a POSITIVE  +0.28% in the pre-market;
• Wednesday was down -2.14% after indicating a NEGATIVE  -0.1% in the pre-market;
• Tuesday was down –1.94% after indicating a POSITIVE +0.7% in the pre-market;
• Last Monday was down –1.65% after indicating a POSITIVE +0.12% in the pre-market;

Tonight’s percentage (%) indicators: weakness …

• Review the range of the 23 upside from +0.09% (FATE) to +19.13% (BCLI) while the 21 downside ranged from -0.40% (ADRO) to -7.89% (AGTC) with 1 flat close (RENE.L)

Volume stat:  Increasing …

• 4 out of the 23 upside had higher (than the 3 month average) volume
• 6 out of the 21 downside experienced greater volume (than the 3 month average).

December sessions:

Monday closed POSITIVE with 21 decliners, 23 advancers and 1 flat;

Friday closed NEGATIVE with 42 decliners, 3 advancers and 0 flat;

Thursday closed NEGATIVE with 36 decliners, 8 advancers and 1 flat;

Wednesday closed NEGATIVE with 34 decliners, 9 advancers and 2 flat;

Tuesday closed NEGATIVE with 36 decliners, 8 advancers and 1 flat;

Monday closed NEGATIVE with 34 decliners, 9 advancers and 2 flats;

Friday closed NEGATIVE with 30 decliners, 13 advancers and 2 flats;

Thursday closed NEGATIVE with 36 decliners, 8 advancers and 1 flat;

Wednesday closed POSITIVE with 8 decliners, 35 advancers and 2 flat;

Tuesday closed NEUTRAL with 21 decliners, 21 advancers and 3 flat;

Monday closed POSITIVE with 18 decliners, 25 advancers and 1 flat;

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

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.