January 31, 2019 6:03pm
… for second session in a row after 22 sessions in January – there was 13 positive closes, 1 neutral, 1 holiday and 7 negative closes
Expectation will be the word for 2019 – meeting the unknowns with soon to be knowns will be the subject of investing decisions
Remember, the closer we get to Q4 earnings releases <the LPS or loss-per-share sweepstakes> the leaner gains or expressive losses are going to be!
Pre-open Indication: 5 HITs and 2 MISS (by pennies and1 by 1/100 of a cent)
RMi outlines preludes and aftermaths defining the daily dose of factors, investment thesis and objectivity!
Whether information or intelligence is good, bad or somewhere in between; I put into context what is relevant and useful for investors.
- The Dow closed down -3.03 points or -0.01% to 25,011.83
- The S&P closed up +23.08 points or +0.86% to 2,704.12
- The NASDAQ was up +98.66 points or +1.37% to 7,281.74
The week’s history lesson, the iShares NASDAQ Biotechnology (IBB) closed:
- Thursday was up +1.38% after NOT indicating in the pre-market;
- Wednesday was up +0.68% after indicating a negative -0.3% in the pre-market;
- Tuesday was up +0.20% after NOT indicating;
- Monday was down -1.99% after NOT indicating;
- Friday was up +1.53% after indicating a positive +0.33% in the pre-open;
- Last Thursday was down -0.02% after NOT indicating;
Pre-open indications: 5 HITs and 2 MISS
- Asterias Biotherapeutics (NYSEMKT: AST) closed up +$0.0082 - miss;
- BioTime (NYSEMKT: BTX) closed down -$0.01 - hit;
- Voyager Therapeutics (VYGR) closed down -$0.03 – miss;
- CRISPRS Therapeutics (CRSP) closed up +$0.19 – hit;
- Editas Medicine (EDIT) closed up +$0.45 – hit;
- Intellia Therapeutics (NTLA) closed up +$0.38 – hit;
- REGENXBIO (RGNX) closed up +$1.02 – hit;
The advance/decline line scenario of 45 covered companies:
- The open was positive with the A/DL to 34/10 and 1 flat;
- The mid-day stayed positive with an A/DL of 33/11 and 1 flat;
- The close was positive with an A/DL of 35/9 and 1 flats;
Tonight’s percentage (%) indicators:
- Ranged of the 35 upside was +0.10% (FIXX) to +50.72% (HSGX +$0.07) while the 9 downside ranged from -0.27% (BCLI) to -4.50% (KOOL -$0.016) with 1 flat close (AGTC).
- 9 out of the 35 upside had higher (than the 3 month average) volume
- 2 out of the 9 downside experienced greater volume (than the 3 month average)
… Greatest volume (descending) to the downside:
- BTX, XON, VYGR, ONVO and SLDB
… Upside volume was weighted to:
- HSGX, VSTM, SGMO, ADRO and EDIT
The rise Thursday follows a rally from Wednesday, sparked by the Federal Reserve's latest monetary policy statement. The Fed said it will be "patient" with raising rates moving forward. The Fed also addressed the balance sheet, which had been a concern for investors, in a separate statement. The Fed said it "is prepared to adjust any of the details for completing balance sheet normalization in light of economic and financial developments." <CNBC>
Sector equities rose again to close positive! The sector i.e. my covered companies is "thinking about what is the next catalyst"!
Thursday's gains put the S&P 500 on track for its best January performance since 1987, having risen 8% this month. The broad index is also on pace for its biggest monthly gain since October 2015.
The pre-open post stated, “Anticipation, the danger of expectation on the last day of January that’s tied to share pricing.”
I also stated, “Let’s leave this month behind, although it wasn’t a bad month’s worth of sessions … get on to February and Q4 quarterly LPS (loss-per-share) earnings and the peaks and valleys behind - hopefully!
Traders sold into strength in Solid Biosciences (SLDB -$0.27), Mesoblast (MESO -$0.1450, XON (-$0.04)
BioTime (NYSEMKT: BTX -0.01) rose after yesterday’s +$0.03 and Tuesday’s +50.5% move.
Biostage (BSTG +$0.009) closed with 230 shares traded, 11 share stimulated a +$0.20 surge in the a.m. as 20 shares took it flat – pretty flimsy and totally dependent on day trading! So, what institutional investors are there – NONE, wonder WHY?
Weakness was nominal yet, a few saw movement: SLDB, VYGR, XON and MESO
The session was good to better with;
Sage Therapeutics (SAGE +$9.94 or +7.49), ReNeuron (RENE.L +$1.50), bluebird bio (BLUE +$3.27 after yesterday’s +$6.65, Tuesday’s-$2.80 and Monday’s -$3.53), Ions Pharmaceuticals (IONS +$2.08) and Spark Therapeutics (ONCE +$1.86)
Closing FLAT was Applied Genetic Technologies (AGTC) at $2.96 after yesterday’s +$0.16 after Tuesday’s -$0.15) post 2/2/19’s $2.65 and 2/1’s $4.55) – there is a message, remember when it traded in the $13’s and the loss of the Biogen (BIIB) collaboration.
The CRISPR peer group is rising: CRSP (+$0.19 after Wednesday’s +$1.27, Tuesdays-$0.20), EDIT (+$0.45 after Wednesday’s +$0.99 and Tuesdays -$0.37) and NTLA (+$0.38 after Wednesday’s +$0.77 after Tuesdays -$0.47) after Monday’s “shoot down”
Global Blood Therapeutics (GBT jumped again +$0.43 to $47.91 after Wednesday’s +$2.58, Tuesday’s +$0.22 to $44.90 following Monday’s -$2.18) as it announced (post the session’s close) that data from its P1/2 study of voxelotor in patients with sickle cell disease (SCD) were published online in Blood.
Thursday closed POSITIVE with 9 decliners, 35 advancers and 1 flat;
Wednesday closed POSITIVE with 5 decliners, 35 advancers and 5 flat;
Tuesday closed NEUTRAL with 21 decliners, 21 advancers and 3 flat;
Monday closed NEGATIVE with 37 decliners, 6 advancers and 2 flat;
Friday closed POSITIVE with 32 decliners, 10 advancers and 3 flat;
Thursday closed POSITIVE with 31 decliners, 12 advancers and 2 flat;
Wednesday closed NEGATIVE with 36 decliners, 8 advancers and 1 flat;
Tuesday closed NEGATIVE with 36 decliners, 7 advancers and 2 flats;
Monday was a market holiday;
Friday closed POSITIVE with 13 decliners, 30 advancers and 2 flats;
Thursday closed NEGATIVE with 22 decliners, 20 advancers and 3 flat;
Wednesday closed POSITIVE with 20 decliners, 23 advancers and 2 flat;
Tuesday closed POSITIVE with 11 decliners, 33 advancers and 1 flat;
Monday closed NEGATIVE with 32 decliners, 10 advancers and 3 flat;
Friday closed NEGATIVE with 23 decliners, 20 advancers and 2 flat;
Thursday closed POSITIVE with 19 decliners, 24 advancers and 2 flat;
Wednesday closed POSITIVE with 18 decliners, 26 advancers and 1 flat;
Tuesday closed POSITIVE with 18 decliners, 26 advancers and 1 flat;
Monday closed POSITIVE with 7 decliners, 38 advancers and 0 flats;
Friday closed POSITIVE with 5 decliners, 40 advancers and 0 flats;
Thursday closed NEGATIVE with 32 decliners, 11 advancers and 2 flats;
Wednesday (1/3/19) closed POSITIVE with 11 decliners, 34 advancers and 0 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.