April 30, 2019 8:28am
All three (3) beat estimates with pre-market indications and guidance
Pre-open indications: 1 BUY, 2 SELLs and 3 TRADEs
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 my “quantamental” blend of the two styles has become common parlance among investors and traders.
Dow futures are UP +0.27% (+73 points), S&P futures are UP +0.04% (+2 point) and NASDAQ futures are DOWN -0.13% (-10 points)
Dow and S&P futures rise as the NASDAQ is trending down;
European markets were lower as the pan-European Stoxx 600 was down around 0.2% during mid-morning deals;
Asian Pacific markets were mixed; China’s manufacturing sector grows less than expected while Japan experiences a holiday;
Data docket: here will be an employment costs index out at 8:30 a.m. ET; while pending home sales and consumer confidence numbers are due at 10:00 a.m. ET. Also, the Fed is also starting its two-day policy meeting Tuesday. Money managers will be looking for clues on the central bank’s plan for its balance sheet moving forward.
Tuesday’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 +0.1% UPSIDE;
Are you being prepared for the onslaught of LPS (loss-per-share) earnings - 5/1 ALNY; 5/2 – NTLA, SAGE; 5/7 – AGTC, RGNX, BOLD and VCEL; 5/8 – AXGN, ATHX followed by 5/9 - IONS
Once we get through Q1 LPS (loss-per-share) financial results <notice I didn’t say – earnings>, it will be easier for investors to possibly recognize a short or a near-term view; but my fear is that Q1 numbers aren't going to look much better than the Q4/18 numbers.
From Monday’s closing bell post, “fundamentals are improving as sentiment edges the sector higher; but, don’t believe or bet on the illusion; never forget Murphy’s Law and/or algorithmic “rules” although the trend is currently friendly.”
The iShares NASDAQ Biotechnology (IBB) indicator: what’s Tuesday’s indication?
- Monday closed down -0.08%
- Friday closed up +0.65%
- Thursday closed up +1.01%
- Last Wednesday closed down -1.09%;
- Last Tuesday was down -1.09%;
In April, there has been 10 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 and last night’s (Monday) pricing:
- ·Voyager Therapeutics (VYGR +$0.22): Pre-clinical data on tau program in Alzheimer's, VY-SOD102 in ALS, VY-HTT01 in Huntington's;
- ·Intellia Therapeutics (NTLA -$0.71) will present new In Vivo and engineered cell therapy data;
- ·UniQure (QURE -$0.71): Six presentations, including Huntington's disease, hemophilia A and Fabry;
- Intrexon Corporation (XON -$0.02) and its majority owned Intrexon Health subsidiary Xogenex, four abstracts will be presented as posters;
- Homology Medicines (FIXX -$0.11): Presentations on programs in phenylketonuria and metachromatic leukodystrophy;
- Sangamo Therapeutics (SGMO -$0.01): Presentations on pipeline programs in Fabry, blood disorders, ALS and Huntington's;
- Solid Biosciences (SLDB -$0.24): Pre-clinical data on SGT-001 in DMD;
- Adverum Biotechnologies (ADVM +$0.01): Pre-clinical data on ADVM-022;
- Cellectis SA (CLLS +$0.32): UCARTS1A in multiple myeloma;
- Fate Therapeutics (FATE +$0.19): Five presentations on iPSC platform.
Companies in my headlights – It’s your decision; I provide an idea and context:
Athersys (ATHX) closed down -$0.08 to $1.60 after Friday’s +$0.08 to $1.68, Thursday’s -$0.05 to $1.60, Wednesday’s -$0.01 to $1.65 and last Tuesday’s +$0.23 to $1.66 following the previous 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 down -$0.74 to $40.28 after Friday’s +$1.46 to $41.02, Thursday’s +$0.99 to $39.56, Wednesday’s -$0.11 to $38.57 and last Tuesday’s +$1.43 to $38.68. CRISPR Therapeutics (CRSP -$0.74 and a slipping -$0.03 aftermarket) Q1 net loss was $48.4 M or -$0.93 per share compared to a loss of $28.3 M or -$0.62 per share for Q1/18. R&D increased to $14.3 M, SG&A increased $6.1 M from Q1/18 while revenue was $300 K and cash position was $437.5 M with a slipping “runway”. There was a negative -$0.03 or -0.07% aftermarket indication – TRADE;
Editas Medicine (EDIT) closed down -$1.49 to $26.27 after Friday’s +$0.60 top $27.76, Thursday’s +$0.15 to $27.16 following Wednesday’s -$0.43 to $27.01 and last Tuesday’s +$1.12 to $27.44 – TRADE;
Intellia Therapeutics (NTLA) closed down -$0.71 to $16.33 after Friday’s +$0.25 to $17.04, Thursday’s +$0.11 to $16.79, Wednesday’s -$0.28 to $16.68 and last Tuesday’s +$0.72 to $16.96 following the previous Monday’s+$0.09 to $16.24 – TRADE;
ReNeuron holdings (RENE.L) closed up +$15.00 to $325.00 after Friday’s +$48.00 to $310.00, Thursday’s+$262.00, Wednesday’s $2.53 and last Tuesday’s $248.50 following the previous Monday’s $236.50 – the open was pegged negative read -$18.89. A deep well for profit-taking – Maintaining SELL;
Verastem Oncology (VSTM) closed up +$0.03 to $2.23 after Friday’s +$0.04 to $2.20, Thursday’s +$0.03 to $2.16, Wednesday’s -$0.14 to $2.13, last Tuesday’s+$0.13 and the previous Monday’s -$0.03 A positive aftermarket indication is +$0.02 or +0.90% as VSTM just re-negotiated its debt vehicle with Hercules. Undervalued - 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.