March 11, 2019 8:11am
One stock at a time while indications are shaky
…There are sessions where data is conflicted and gut instinct is in
News: Cowen Healthcare conference in Boston, Ma; Stemline Therapeutics (STML); Alnylam Pharmaceuticals (ALNY) and 60 Minutes highlighted sickle cell disease
In the last five (5) sessions, there was a negative -5.76% aggregate
Pre-open indications: 6 BUYs
It’s not hard to be right so often, it’s about refining expectation, defining insight and NOT being indentured to ANY financial institution! That’s why the term “quantamental,” a blend of the two styles, may soon become common parlance among ordinary investors.
Whether information or intelligence is good, bad or somewhere in between; I put into context what is relevant and useful for investors.
U.S. stock index futures are mixed and lower
Dow futures are DOWN -0.69% (-176 points), S&P futures are UP +0.15% (+5 points) and NASDAQ futures are UP +0.31% (+22 points)
U.S. stock index futures traded lower on Monday, with Dow component – Boeing (down almost -10%) falling sharply following the second crash of a 737 Max 8 jet in five months.
European stocks are up ahead of Brexit vote
Asian stocks are down
Data docket: retail sales out at 8:30 a.m. ET and business inventories at 10 a.m. ET.
Monday’s indications in the pre-market:
The iShares Nasdaq Biotechnology (IBB) is indicating a NEGATIVE -0.49% DOWNSIDE;
The SPDR S&P Biotech ETF (XBI) is indicating a POSITIVE +0.57% UPSIDE
The Health Care Select Sector SPDR ETF (XLV) is NOT indicating
The iShares Russell 2000 (IWM) is indicating a POSITIVE +0.27% UPSIDE
Signals are mixed as the Monday session opens and the title says it all ...
This day is starting out in a dangerous way; there were multiple accidents and car roll-overs in the immediate town area – black ice.
Could the market suffer the same skids in a session of unseen issues?
I follow the dictum, quoting Churchill that “short words are best, and the old words when short are best of all.”
From Friday’s closing bell post, “late Friday’s session, the sector bounced up with volume slipping lower as the IBB also slipped (-0.49) again. It’s not about sentiment, confidence or sector breadth but, pessimism and anticipation of increasing LPS (loss-per-share) quarterly earnings as smaller caps begin releasing.”
- In March, there were 2 negative and 4 positive closes;
- Bouncing to the upside: RENE.L (+$4.00), BOLD (+$1.38), QURE (+$1.22), IONS (+$0.65) and STML (+$0.60)
- Leading the pack to the downside: FIXX (-$1.71), RGNX (-$1.35), BMRN (-$1.32), AXGN (-$1.31) and CRSP (-$1.00);
- 8 out of the 22 upside had higher (than the 3 month average) volume
- 1 out of the 20 downside experienced greater volume (than the 3 month average)
- In the last five (5) sessions, there was a negative -5.76% aggregate - there is room to move up!
Companies in my headlights – It’s your decision; I provide an idea and context:
Alnylam Pharmaceuticals (ALNY) closed down -$0.10 to $83.27 after Thursday’s -$1.38 to $83.37, Wednesday’s -$3.56 to $84.75 and last Tuesday’s +$3.31 to $88.31. ALNY has NO aftermarket indication but, has news of submitting a clinical trial authorization (CTA) application to The Medicines and Healthcare products Regulatory Agency (MHRA) in the U.K. to initiate a P1 study of ALN-AGT, an investigational RNAi therapeutic targeting angiotensinogen (AGT) for the treatment of hypertension in high unmet need populations, including patients with resistant or refractory hypertension, chronic kidney disease or heart failure. ALNY plans to initiate a P1 study in mid-2019, upon obtaining MHRA approval - Maintaining BUY;
Stemline Therapeutics (STML) closed up +$0.60 to $11.62 and has news, Monday a.m. of expanding its oncology pipeline in that it has exclusively licensed worldwide rights to develop and commercialize a novel, oral, selective small molecule RET (rearranged during transfection) kinase inhibitor from the CRT Pioneer Fund LP, a £70 million specialist oncology investment fund managed by Sixth Element Capital, a UK based fund manager. The RET inhibitor was rationally designed by scientists at Cancer Research UK Manchester Institute at the University of Manchester (United Kingdom). The preclinical compound has been designated SL-1001 and is expected to enter the clinic in 2020 –BUY;
BioTime (NYSEMKT: BTX) closed up +$0.03 to $1.31 after Thursday’s+$0.08 to $1.30 after Wednesday’s flat at $1.25, Tuesday’s +$0.07 to $1.25 and Monday’s flat at $1.17 following last Friday’s -$0.03 to $1.17 with a POSITIVE +$0.01 or +0.77% aftermarket indication as the vote and timing of the Asterias Biotherapeutics (NYSEMKT: AST) acquisition is on-going – Maintaining BUY;
bluebird bio (BLUE) closed down -$1.07 to $138.83 but, a segment of 60 minutes highlighted sickle cell anemia while Global Blood Therapeutics (GBT) closed up +$0.36 TO $50.02 – BUY on BOTH;
ReNeuron (RENE.L) is up +$1.95 to $82.45 after Friday’s close of $80.50 having closed Thursday at -$3.00 to $76.50 after Wednesday’s -$3.00 to $79.50, Tuesday’s +$7.00 to $82.50 and Monday’s +$19.50 to $75.50 after last Friday’s +$9.00 to $65.00 – to SELL to 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.