January 30, 2019 8:09am
Volume was low as 4 out of the 21 upside had higher (than the 3 month average) volume and 4 out of the 21 downside experienced greater volume (than the 3 month average)
This cycle of share pricing capriciousness reflects a “tourist” trade pre earnings releases
Pre-open indications: 1 BUY, 3 SELLs and 3 trades
News: Stemline Therapeutics, Inc. (STML) the European Medicines Agency (EMA) has completed its validation of the Marketing Authorization Application (MAA) for ELZONRIS™ (tagraxofusp-erzs). Validation of the MAA confirms that the submission is sufficiently complete to begin the formal review process. STML submitted the MAA earlier this month seeking approval of ELZONRIS for the treatment of adult patients with blastic plasmacytoid dendritic cell neoplasm (BPDCN). In November 2018, the MAA was granted accelerated assessment.
I focus on indication analysis; an indication can be a development of almost any kind. Specifically, it may be a confirmed fact, a possible fact, or an absence of “something”, a fragment of information or even an observation. The sole provision is that it provides insight to provide some vision into a likely course of action.
I answer one question, in which company should investors put, keep and commit their money!
U.S. stock index futures are UP
Dow futures are +1.06% (+261 points) and NASDAQ futures are UP +0.95% (+64 points)
Investors are looking to the outcome of the Federal Reserve's rate review later in the session;
European markets edge lower ahead of US-China trade talks;
Asian markets closed mixed.
Data docket: An ADP employment report is due at 08:15 a.m. ET and a pending home sales index is due to be reported at 10.00 a.m. ET.
The iShares Nasdaq Biotechnology (IBB) is indicating a NEGATIVE -0.3% DOWNSIDE
The SPDR S&P Biotech ETF (XBI) is indicating a POSITIVE +0.3% UPSIDE
The Health Care Select Sector SPDR ETF (XLV) is indicating a POSITIVE +0.18% UPSIDE
The iShares Russell 2000 (IWM) is indicating a POSITIVE +0.4% UPSIDE
Watch as a market tailwind helps the sector ... even if the IBB has been nailed lower in the pre-open!
The S&P 500 and the NASDAQ closed lower Tuesday while the sector ended on a neutral note as investors peeled their optimism with a pessimistic knife!
News is needed to solidify any upside pre the usual decline before releases.
Market focus is largely attuned to global trade developments, with Chinese vice Premier Liu He arriving in Washington to meet U.S. officials on Wednesday. Treasury Secretary Steven Mnuchin said on Tuesday that he expected the world's two largest economies to make significant progress toward a comprehensive trade agreement this week <CNBC>.
Investors are also looking to the outcome of the Federal Reserve's rate review later in the session, amid heightened expectations policymakers at the U.S. central bank will reinforce their dovish stance given signs of an economic slowdown.
Tuesday’s evening post, “many see volatility as a measure of risk; its immediate effect creates uncertainty of share pricing. The real risk is the loss of value when sentiment nose-dives.”
Last night’s percentage (%) indicators:
- Ranged of the 21 upside was +0.02% (RGNX) to +55.46% (BTX) while the 21 downside ranged from -0.21% (OSIR) to -7.14% (ATHX) with 3 flat close (MDXG, PSTI and RENE.L).
Running the month:
- In 20 sessions in January – there was 11 positive closes, 1 neutral, 1 holiday and 7 negative closes – so far!
Companies in my headlights – It’s your decision; I provide an idea and context:
Asterias Biotherapeutics (NYSEMKT: AST) closed up +$0.28 or +39.25% to $ on news of BioTime’s (NYSEMKT: BTX) OncoCyte (OCX: NYSE American) positive results on its lung cancer liquid biopsy test. There is a positive +$0.11 or +11.22% aftermarket indication. The incline is steep and traders will reap from the share pricing – SELL;
BioTime (NYSEMKT: BTX) closed up +$0.49 or +55.46% to $1.39. BioTime’s (NYSEMKT: BTX) OncoCyte (OCX: NYSE American) announced positive results on its lung cancer liquid biopsy test. The incline is steep and traders will reap from the share pricing. Into strength – SELL;
Voyager Therapeutics (VYGR) closed up +$3.08 or +38.31% to $11.12 on news of a strategic collaboration was announced focusing on the development and commercialization of Voyager’s gene therapy programs, VY-AADC for Parkinson’s disease and VY-FXN01 for Friedreich’s ataxia after Monday’s down -$0.41 to $8.04. On strength – BUY to SELL;
CRISPRS Therapeutics (CRSP) closed down -$0.20 to $30.97 after Monday’s -$2.03 to $31.17 following Friday’s +$0.91 to $33.20 after Thursday’s +$0.89 to $32.29 and last Wednesday’s -$1.68 to $31.40. There is a negative -$0.08 or -0.26% aftermarket indication but, it has become cheaper (?) – TRADE;
Editas Medicine (EDIT) closed down -$0.37 to $30.97 after Monday’s -$0.80 to $20.66, Friday’s +$0.13 to $21.46, Thursday’s +$1.23 to $21.33 and last Wednesday’s -$0.85 to $20.10. It has been getting cheap and there is a +$0.21 or +1.03% aftermarket indication – TRADE;
Intellia Therapeutics (NTLA) closed down -$0.47 to $12.99 -$1.30 to $13.46 following Friday’s +$0.38 to $14.76 after Thursday’s +$0.60 to $14.38, Wednesday’s -$0.38 to $13.68 and last Tuesday’s -$1.04 to $14.16. No indication yet, it is getting cheaper – TRADE;
Stemline Therapeutics (STML) closed up +$0.53 to $10.70 and today announced that the European Medicines Agency (EMA) has completed its validation of the Marketing Authorization Application (MAA) for ELZONRIS™ (tagraxofusp-erzs). Validation of the MAA confirms that the submission is sufficiently complete to begin the formal review process. Stemline submitted the MAA earlier this month seeking approval of ELZONRIS for the treatment of adult patients with blastic plasmacytoid dendritic cell neoplasm (BPDCN). In November 2018, the MAA was granted accelerated assessment – BUY;
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.