May 1, 2019 8:18am
NO dances, singing or cake, the usually part of today’s festivities; just give investors a good “shot” of an UP day and a BIG (increased) number for payrolls
Q1 financial results: Alnylam Pharmaceuticals (ALNY)
Pre-open indications: 1 BUY, 2 SELLs and 3 TRADEs
The Strange Case of Dr. Jekyll and Mr. Hyde might make for a great read, but it’s far less fun when the sector act like it’s their blueprint. Stocks have lately been alternating between the horrific and the benign.
Dow futures are UP +0.28% (+74 points), S&P futures are UP +0.31% (+10 points) and NASDAQ futures are UP +0.69% (+54 points)
U.S. stock index futures were pointing to a higher open Wednesday morning,
London’s FTSE traded higher as other major European markets are closed for the May Day public holiday,
Australian stocks rise as most Asian markets stay shut for holidays,
Data docket: A DP payrolls at 8:15 a.m. ET; manufacturing PMI due at 9.45 a.m., and construction spending figures at 10 a.m. ET.
- Focus remains on the Federal Reserve, however, with Chairman Jerome Powell due to speak at 2 p.m. ET.
Wednesday’s ETF indications in the pre-market:
The iShares Nasdaq Biotechnology (IBB) is indicating a POSITIVE +0.4% UPSIDE;
The SPDR S&P Biotech ETF (XBI) is indicating a POSITIVE +0.35% UPSIDE;
The Health Care Select Sector SPDR ETF (XLV) is NOT indicating;
The iShares Russell 2000 (IWM) is indicating a POSITIVE +0.25% UPSIDE;
I am looking for a lift in the sector that feels very oversold yet, LPS (loss-per-share) earnings’ release are restarting the onslaught.
Are you being prepared for the onslaught of LPS (loss-per-share) earnings - 5/1 ALNY; 5/2 – NTLA, SAGE; 5/6 – RARE; 5/7 – AGTC, RGNX, BOLD, FATE, EDIT 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 Tuesday’s closing bell post, “the sector gets hammered as the NASDAQ’s dives; the Advance/Decline (A/D) line was negative with an A/DL of 8/35 and 0 flat and 2 acquired as compared to Monday’s positive A/DL of 22/20 and 1 flat and 2 acquired. “
Upside volume stats: review the numbers, there is a message …
- Tuesday: 5 out of the 8 upside had higher than the 3 month average volume
- Monday: 8 out of the 22 upside had higher than the 3 month average volume
Downside volume stats:
- Tuesday: 7 out of the 35 downside had higher than the 3 month average volume;
- Monday: 2 out of the 20 downside had higher than the 3 month average volume
In April, there has been 10 positive and 11 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 -$0.49): Pre-clinical data on tau program in Alzheimer's, VY-SOD102 in ALS, VY-HTT01 in Huntington's;
- Intellia Therapeutics (NTLA -$0.95) will present new In Vivo and engineered cell therapy data;
- UniQure (QURE -$0.45): Six presentations, including Huntington's disease, hemophilia A and Fabry;
- Intrexon Corporation (XON -$0.15) and its majority owned Intrexon Health subsidiary Xogenex, four abstracts will be presented as posters;
- Homology Medicines (FIXX -$0.69): Presentations on programs in phenylketonuria and metachromatic leukodystrophy;
- Sangamo Therapeutics (SGMO -$0.39): Presentations on pipeline programs in Fabry, blood disorders, ALS and Huntington's;
- Solid Biosciences (SLDB -$0.22): Pre-clinical data on SGT-001 in DMD;
- Adverum Biotechnologies (ADVM +$0.01): Pre-clinical data on ADVM-022;
- Cellectis SA (CLLS -$0.29): UCARTS1A in multiple myeloma;
- Fate Therapeutics (FATE -$0.69): Five presentations on iPSC platform.
Companies in my headlights – It’s your decision; I provide an idea and context:
Athersys (ATHX) closed down -$0.05 to $1.55 after Monday’s-$0.08 to $1.60, Friday’s +$0.08 to $1.68, Thursday’s -$0.05 to $1.60 and last Wednesday’s -$0.01 to $1.65 following the previous Tuesday’s +$0.23 to $1.66 and 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 -$0.09 to $40.19 after Monday’s -$0.74 to $40.28, Friday’s +$1.46 to $41.02, Thursday’s +$0.99 to $39.56, Wednesday’s -$0.11 to $38.57 and the previous Tuesday’s +$1.43 to $38.68 – TRADE;
Editas Medicine (EDIT) closed down -$1.52 to $24.75 after Monday’s -$1.49 to $26.27, Friday’s +$0.60 top $27.76, Thursday’s +$0.15 to $27.16 following last Wednesday’s -$0.43 to $27.01 and the previous Tuesday’s +$1.12 to $27.44 – TRADE;
Intellia Therapeutics (NTLA) closed down -$0.95 to $15.38 after Monday’s -$0.71 to $16.33, Friday’s +$0.25 to $17.04, Thursday’s +$0.11 to $16.79 and last Wednesday’s -$0.28 to $16.68. Oversold– 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 -$35.00. A deep well for profit-taking – Maintaining SELL;
Verastem Oncology (VSTM) closed down -$0.10 to $2.13 after Monday’s +$0.03 to $2.23, Friday’s +$0.04 to $2.20, Thursday’s +$0.03 to $2.16, last Wednesday’s -$0.14 to $2.13 and the previous Tuesday’s+$0.13 and Monday’s -$0.03 - 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.