March 21, 2019 6:04pm
While Biogen (BIIB) declined (-29%) with an Alzheimer trial being discontinued sending the IBB spiraling down -1.07%
As the Advance/Decline (A/D) line exploded to the upside, volume was low
Pre-open indications: 7 HIT and 0 MISS
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 +216.84 points or +0.84% to 25,962.51
- The S&P closed up +30.65 points or +1.09% to 2,854.88
- The NASDAQ was up +109.99 points or +1.42% to 7,838.96
Henry’omics:
Sector equities rose on Thursday as Sage Therapeutics (SAGE) bounced back +$5.52 to $157.98 after yesterday’s decline and a FDA approval while bluebird bio (BLUE) regained altitude closing up +$2.69 to $156.18 leading the sector higher.
Investor sentiment was also boosted by the Fed’s updated outlook on interest-rate hikes even as Biogen (BIIB) got hammered (down -29%) with an Alzheimer trial being discontinued.
Trading was definitely influenced by the oversold conditions!
Sector equities posted Thursday’s gains were led by:
- SAGE (+$5.52 after Wednesday’s -$3.64), BLUE (+$2.60 after Wednesday’s -$2.52), QURE (+$2.59), ALNY (+$2.06) and RGNX (+$1.86 after Wednesday’s +$2.01, Tuesday’s +$0.22 and Monday’s +$0.84)
Crashing on Thursday was:
- RENE.L (-$1.00 after Wednesday’s +$1.50 Tuesday’s -$1.00 and Monday’s +$6.00) CLLS (-$0.41), BLCM (-$0.40 after Wednesday’s +$0.34), ONCE (-$0.23) and SLDB (-$0.13)
Pre-open post, “indications are negative as indexes and ETFs look even more dismal as Biogen (BIIB -25%) stock plummets after P3 Alzheimer treatment (trial) is discontinued with most pharmaceuticals also under pressure.”
The advance/decline line scenario of 45 covered companies:
- The open was positive with the A/DL to 24/19, 1 flat and 1 acquired (AST);
- The mid-day was positive with an A/DL of 28/15 and 1 flat and 1 acquired;
- The close was positive with an A/DL of 31/12 and 1 flat and 1 acquired;
Pre-open indications: 7 HIT and 0 MISS
- Regenxbio (RGNX) closed up +$1.86 – hit;
- BioMarin Pharmaceuticals (BMRN) closed up +$0.82 – hit;
- Sage Therapeutics (SAGE) closed up +$5.52 – hit;
- CRISPRS Therapeutics (CRSP) closed up +$0.76 – hit;
- Editas Medicine (EDIT) closing up +$0.62 – hit;
- Intellia Therapeutics (NTLA) closing up +$0.66 – hit;
- ReNeuron (RENE.L) closed down -$1.00 – hit;
Tonight’s percentage (%) indicators:
- Range of the 31 upside was +0.28% (CLBS) to +7.90% (AXGN) while the 12 downside ranged from -0.20% (ONCE) to -9.78% (BLCM).
Volume stat:
- 12 out of the 31 upside had higher (than the 3 month average) volume
- 3 out of the 12 downside experienced greater volume (than the 3 month average)
1 flat – BSTG with 1 acquired: 1 (AST)
The iShares NASDAQ Biotechnology (IBB) indicator:
- Thursday was down -1.07%;
- Wednesday was down -0.59%;
- Tuesday was down -0.06%;
- Monday was down -0.31% after NOT indicating;
- Friday was up +1.07% after indicating a positive +0.26% in the pre-market;
- Last Thursday was down -0.22% after indicating;
March sessions:
Thursday closed POSITIVE with 12 decliners, 31 advancers, 1 flat and 1 acquired;
Wednesday closed NEGATIVE with 25 decliners, 18 advancers, 1 flat and 1 acquired;
Tuesday closed NEGATIVE with 22 decliners, 19 advancers, 3 flats and 1 acquired;
Monday (3/18) closed POSITIVE with 17 decliners, 27 advancers and 1 acquired;
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 closed POSITIVE with 17 decliners, 23 advancers and 5 flats;
Monday 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.
