March 15, 2019 6:59pm
That is what the SELL button is for as strength materializes before it vaporizes
Volatility and volume increased as 20 out of the 32 upside had higher (than the 3 month average) volume and 8 out of the 12 downside experienced greater volume (than the 3 month average)
Pre-open indications: 6 HITs and 4 MISS (2 with negative aftermarket indications)
Q4 and FY18 results: Stemline Therapeutics (STML)
Review the snapshot of the daily ‘workings” of the sector composite of cell and gene therapy companies.
That’s why my “quantamental” blend of styles; must become the “tool” for investors and traders to portfolio enrichment.
Markets and indexes:
- The Dow closed up +138.93 points or +0.54% to 25,848.87
- The S&P closed down +14 points or +0.50% to 2,822.48
- The NASDAQ was up +57.62 points or +0.76% to 7,688.53
Sector equities posted weekly gains, led by BLUE (+$6.47), SAGE (+$3.38) and ALNY (+$3.09) as traders were cheered by investors on Friday.
Crashing on Friday were RENE.L (-$1.50), CLBS (-$0.34) after release of Q4 and FY18 LPS (loss-per-share) earnings followed by QURE (-$0.20)
In small caps, the Russell 2000 closed at 1,553.53 for a gain of 3.90 points or 0.25%.
Q4 /18 was a disaster but, FY19 has ricocheted to a degree where the IBB, XBI and XLV are moving forward yet, incrementally.
For the week, the NASDAQ gained 3.1%, the S&P 500 gained 2.4% and the Dow gained 2.2%. For the year, the NASDAQ has a gain of 15.0%, the S&P 500 has a gain of 12.6% and the Dow Jones has a gain of 10.2%.
Economic reports affecting market trading for the day included the following:
- The University of Michigan's Consumer Sentiment Index increased to 97.8 in March from 93.8;
- Industrial production increased 0.1% in February and 3.5% year over year;
- The Baker Hughes North American oil rig count decreased to 1,187 from 1,216.
There were less of a reason to sell; it’s more of a reason to watch and nibble after many funds and traders “covered” their positions before the quadruple witching just sit tight and see which way things go
Are we looking at ... some declines , next week - yoi betcha!
Pre-open post, “its Friday and a quadruple witching. Let’s see how much dust the witch’s broom sweeps and swirls as she flies through the sector! There are more than many skittish investors after Q4 and FY 18 “earnings’ releases re which way to flop or flip?”
The advance/decline line scenario of 45 covered companies:
- The open was positive with the A/DL to 30/12 and 3 flats;
- The mid-day was positive with an A/DL of 24/16 and 5 flats;
- The close was positive with an A/DL of 30/12 and 3 flats;
Pre-open indications: 6 HITs and 4 MISS
- Athersys (ATHX) closed down -$0.05 – hit;
- BioLife Solutions (BLFS) closed up +$1.01 – miss but, maintaining SELL;
- BioTime (NYSE American: BTX) closed up +$0.18 – miss;
- Caladrius Biosciences (CLBS) closed down -$0.34 – hit;
- Cellectis SA (CLLS) closed up +$0.29 – miss, and is down -$0.06 in the aftermarket - maintaining SELL;
- CRISPR Therapeutics (CRSP) closed up +$0.09 – hit;
- Editas Medicine (EDIT) closed up +$0.35 – hit;
- Intellia therapeutics (NTLA) closed up +$0.54 – hit;
- Stemline Therapeutics (STML) closed up +$0.15 – miss and is down -$0.32 in the aftermarket;
- ReNeuron (RENE.L) closed down -$1.50 – hit;
Q4 and FY18 results: Stemline Therapeutics (STML)
STML reported a Q4 loss of $26.6 M or a loss of -$0.92 per share. The results missed “street” expectations for a loss of -$0.72 cents per share.
For the year, STML reported that its loss widened to $85 M, or $2.99 per share and revenue was reported as $500 K.
Cash position was $60.1 M with a runway until 2020 and completed a follow-on public offering during January 2019 raising $86.1 M in net cash proceeds bringing total cash, to $125.2 M as of March 15, 2019.
STML shares have climbed 43% since the beginning of the year. In the final minutes of trading on Friday, shares hit $13.62, a drop of 9% in the last 12 months.
STML’s ELZONRIS was FDA-approved on December 21, 2018 for the treatment of blastic plasmacytoid dendritic cell neoplasm (BPDCN) in adults and in pediatric patients, two years and older. ELZONRIS has been commercially available in the U.S. since the end of January 2019, and patients are currently being treated with ELZONRIS in the commercial setting. A Marketing Authorization Application (MAA) for ELZONRIS seeking marketing approval in Europe was submitted to, and subsequently validated by, the European Medicines Agency (EMA) in January 2019. The MAA has been granted accelerated assessment and is currently under review.
Tonight’s percentage (%) indicators:
- Range of the 32 upside was +0.03% (BMRN) to +11.70% (VYGR) while the 12 downside ranged from -0.09% (ONCE) to -8.08% (CLBS).
- 20 out of the 32 upside had higher (than the 3 month average) volume
- 8 out of the 12 downside experienced greater volume (than the 3 month average)
The iShares NASDAQ Biotechnology (IBB) indicator:
- Friday was up +1.07% after indicating a positive +0.26% in the pre-market;
- Thursday was down -0.22% after indicating;
- Wednesday was up +1.31% after indicating;
- Tuesday was up +0.82% after NOT indicating;
- Monday was up +2.14% after indicating a NEGATIVE -0.49% in the pre-market;
- Last Friday was down -0.49% after NOT indicating;
Friday closed POSITIVE with 12 decliners, 32 advancers and 1 flat;
Thursday closed NEGATIVE with 30 decliners, 13 advancers and 2 flats;
Wednesday closed POSITIVE with 12 decliners, 30 advancers and 3 flats;
Tuesday closed POSITIVE with 13 decliners, 30 advancers and 2 flats;
Monday (3/11) closed POSITIVE with 7 decliners, 37 advancers and 1 flat;
Friday closed POSITIVE with 20 decliners, 22 advancers and 3 flats;
Thursday closed POSITIVE with 14 decliners, 29 advancers and 2 flats;
Wednesday closed NEGATIVE with 39 decliners, 5 advancers and 1 flat;
Tuesday (3/4) closed POSITIVE with 17 decliners, 23 advancers and 5 flats;
Monday (3/1) closed NEGATIVE with 24 decliners, 18 advancers and 3 flats;
Friday (3/1) closed POSITIVE with 11 decliners, 32 advancers and 2 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.