March 6, 2019 7:54am
Don’t get caught-up with expectation; it’s all about the lack of indications
Are lows rising to being overbought?
We just got out of being oversold!
Pre-open indications: 3 BUYs, 2 SELLs and 3 TRADE
News: Alnylam Pharmaceuticals’ (ALNY) NVISION P3 study of givosiran, an investigational RNAi therapeutic targeting aminolevulinic acid synthase 1 (ALAS1) in development for the treatment of acute hepatic porphyria (AHP) met its primary efficacy endpoint and the majority of secondary endpoints. ALNY plans to complete its rolling submission of a New Drug Application (NDA) and file a Marketing Authorization Application (MAA) in mid-2019 – BUY;
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.
Companies need to ensure their visibility to retail investors and brokers and differentiate their platforms and assets with unimpeachable comparisons to its peer group!
U.S. stock index futures are bottoming
Dow futures are DOWN -0.15% (-40 points), S&P futures are DOWN -0.15% (-5 points) and NASDAQ futures are DOWN -0.13% (-10 points)
U.S. markets are set for slightly lower open as investors monitor trade talks
Stocks in Europe hovered around the flat line
Asian markets were subdued as mainland Chinese shares bounced strongly on Wednesday as markets took hope in stimulus measures announced by Beijing on Tuesday.
Data docket: ADP employment numbers at 8.15 a.m. ET and international trade figures out at 8.30 a.m. ET.
Wednesday’s indications in the pre-market:
The iShares Nasdaq Biotechnology (IBB) is NOT indicating;
The SPDR S&P Biotech ETF (XBI) is NOT indicating
The Health Care Select Sector SPDR ETF (XLV) is NOT indicating
The iShares Russell 2000 (IWM) is indicating a NEGATIVE -0.02% DOWNSIDE
Any which way but ... lose; an iteration of a Clint eastwood movie about the San Fernando Valley adventures of trucker turned prize-fighter Philo Beddoe and his pet orangutan Clyde.
What is the name of my big orangutan in the room - "short-term".
From Tuesday’s closing bell post, “the ebb and flow as I had stated, “Last night’s swings are today’s moves”; be ready for a bounce and it did rebound … Good to right yet again!”
- 11 out of the 23 upside had higher (than the 3 month average) volume
- 7 out of the 17 downside experienced greater volume (than the 3 month average)
- Tuesday closed POSITIVE with 17 decliners, 23 advancers and 5 flats;
- Monday (3/3) closed NEGATIVE with 24 decliners, 18 advancers and 3 flats;
- Friday (3/1) closed POSITIVE with 11 decliners, 32 advancers and 2 flats;
Companies in my headlights – It’s your decision; I provide an idea and context:
Alnylam Pharmaceuticals (ALNY) closed up +$3.31 to $88.31 as its NVISION P3 study of givosiran, an investigational RNAi therapeutic targeting aminolevulinic acid synthase 1 (ALAS1) in development for the treatment of acute hepatic porphyria (AHP), met its primary efficacy endpoint and the majority of secondary endpoints. ALNY plans to complete its rolling submission of a NDA and file a Marketing Authorization Application (MAA) in mid-2019 – BUY;
CRISPR Therapeutics (CRSP) closed up +$0.95 to $40.87 with a positive +$0.18 or +0.44% aftermarket indication – TRADE;
Editas Medicine (EDIT) closed down -$0.18 to $23.64 with a negative -$0.14 or -9.58% aftermarket indication - TRADE
Intellia Therapeutics (NTLA) closed down -$0.06 to $16.53 and a negative -$0.17 or -1.03% aftermarket indication – TRADE;
BioTime (NYSEMKT: BTX) closed up +$0.07 to $1.25 after Monday’s flat at $1.17 following Friday’s -$0.03 to $1.17. The vote and timing of the Asterias Biotherapeutics (NYSEMKT: AST) acquisition is coming – Maintaining BUY;
ReNeuron (RENE.L) closed down -$7.00 to $82.50 and is down -$3.01 or -3.65% to $79.49 after Monday’s +$19.50 to $75.50 with 2.292 M shares traded after Friday’s +$9.00 to $$65.00 with 104.8 K shares traded (3 month average = 38.2 K shares) even after a very quick and steep incline – Maintaining SELL;
Verastem Oncology (VSTM) closed up +$0.06 to $3.13 after Monday’s down -$0.04 to $3.06 after Friday’s +$0.09 to $3.10, VSTM’s COPIKTRA demonstrated progression-free survival of 16.4 months and an overall response rate of 78% in adult patients with CLL/SLL after at least two (2)prior therapies in a poster highlighting clinical data from the P3 DUO study. VSTM has a positive +$0.09 or +2.94% pre-market indication – Maintaining BUY;
uniQure NV (QURE) closed up +$0.12 to $59.51 after Monday’s +$2.08 to $59.39 following Friday’s +$3.32 to $57.31 after Thursday’s +$0.76 to $53.99. There is a negative -$1.25 or -2.50% aftermarket indication. Q4 and FY18 results set forth decreases in collaboration revenue, followed by increases in R&D spending, SG&A. Getting rich and share pricing is a concern – SELL;
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.