April 29, 2019 8:02am

The sector is beyond the measurement of risk, it’s all about perception and sentiment

This week’s events:  American Society of Gene & Cell Therapy Annual Meeting, Washington, DC.

Pre-open indications:  2 BUYs, 2 SELLs and 3 TRADEs

It’s an honor to be considered the “canary in the (sectors) coal mine”!  

I believe that a reputational factor or tool needs introduction to measure “sentiment”!

 

Dow futures are DOWN -0.08% (-21 points), S&P futures are DOWN -0.04% (-2 point) and NASDAQ futures are DOWN -0.05% (-4 points)

 

Dow futures indicated a down and flimsy open while futures on the S&P and NASDAQ are down!

European markets lower as the pan-European Stoxx 600 was down around 0.3% during mid-morning deals, with most sectors and major bourses in negative territory.

Stocks in China mostly tumble; Japan’s markets are closed for 10-day holiday

 

Data docket: personal income and consumer spending figures released at 8:30 a.m. ET.

 

Monday’s ETF 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 POSITIVE +0.02% UPSIDE;

 

Henry’omics:

With markets not budging, seeming directionless – WHAT will “our” universe do?

Watch to the first hour of the open … equities are cheap, some will get cheaper, and one or two will be under … scrutiny on e by the government and another by pharma’s greedy eyes!

U.S. stock index futures were little changed Monday morning, as market participants prepared for fresh data releases.

From Friday’s closing bell post, “the sector rose on an oversold prompt and closed to the upside. Momentum slowed with low volume as the NASDAQ hit a new high with the IBB’s (+0.65%) inclined sputtered.”

Last week:

  • Friday closed POSITIVE with 16 decliners, 26 advancers, 1 flat and 2 acquired (AST & OSIR);
  • Thursday closed POSITIVE with 18 decliners, 23 advancers, 2 flat and 2 acquired (AST & OSIR);
  • Wednesday closed NEGATIVE with 29 decliners, 13 advancers, 1 flat and 2 acquired (AST & OSIR);
  • Tuesday closed POSITIVE with 4 decliners, 36 advancers, 3 flat and 2 acquired (AST & OSIR);
  • Monday closed NEGATIVE with 22 decliners, 20 advancers, 1 flat and 2 acquired (AST & OSIR);

In April, there has been 9 positive and 10 negative closes – so far;

In March’s 21 sessions, there were 7 negative and 14 positive closes;

 

This week, keep your eyes on presentations at the American Society of Gene & Cell Therapy Annual Meeting, Washington, DC:

  • UniQure (QURE): Six presentations, including Huntington's disease, hemophilia A and Fabry;
  • Voyager Therapeutics (VYGR): Pre-clinical data on tau program in Alzheimer's, VY-SOD102 in ALS, VY-HTT01 in Huntington's;
  • Homology Medicines (FIXX): Presentations on programs in phenylketonuria and metachromatic leukodystrophy;
  • Sangamo Therapeutics (SGMO): Presentations on pipeline programs in Fabry, blood disorders, ALS and Huntington's;
  • Solid Biosciences (SLDB): Pre-clinical data on SGT-001 in DMD;
  • Adverum Biotechnologies (ADVM): Pre-clinical data on ADVM-022;
  • Cellectis SA (CLLS): UCARTS1A in multiple myeloma;
  • Fate Therapeutics (FATE): Five presentations on iPSC platform.

 

Companies in my headlights – It’s your decision; I provide an idea and context:

BioMarin Pharmaceuticals (BMRN) closed down -$0.22 to $85.09 after Thursday’s $85.31 and has a NO aftermarket indication. BMRN reported Q1 results beating estimates and revenue forecasts;  revue $400.70 M beat expectations of $387.2 M as did the -$0.09 per share top Street forecasts – Maintaining BUY;

Athersys (ATHX) closed up +$0.08 to $1.68 after Thursday’s -$0.05 to $1.60 after Wednesday’s  -$0.01 to $1.65, Tuesday’s  +$0.23 to $1.66 and last Monday’s $1.43. A flash in the frying pan, what has ATHX done through-out the year to date pay their chairman and CEO from an enormous compensation “platter” – Maintaining SELL;

CRISPR Therapeutics (CRSP) closed up +$1.46 to $41.02 after Thursday’s +$0.99 to $39.56 after Wednesday’s -$0.11 to $38.57, Tuesday’s +$1.43 to $38.68 and last Monday’s +$0.99 to $37.25 – TRADE;

Editas Medicine (EDIT) closed up +$0.60 top $27.76 after Thursday’s +$0.15 to $27.16 following Wednesday’s -$0.43 to $27.01, Tuesday’s +$1.12 to $27.44 and last Monday’s +$0.52 to $26.32 –TRADE;

Intellia Therapeutics (NTLA) closed up +$0.25 to $17.04 after Thursday’s +$0.11 to $16.79 following Wednesday’s -$0.28 to $16.68, Tuesday’s +$0.72 to $16.96 and last Monday’s+$0.09 to $16.24 – TRADE;

ReNeuron holdings (RENE.L) closed up +$48.00 to $310.00, Thursday’s+$262.00, Wednesday’s $2.53,  Tuesday’s $248.50 following last Monday’s $236.50 – the open was pegged at $22.50, strength to sold into -  –SELL

Verastem Oncology (VSTM) closed up +$0.04 to $2.20 after Thursday’s +$0.03 to $2.16 following Wednesday’s -$0.14 to $2.13, Tuesday’s+$0.13 and last Monday’s -$0.03, t– VSTM just re-negotiated its debt vehicle with Hercules - Maintaining 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.