July 5, 2019 5:56pm

After Thursday’s July 4th and a weekend following

I didn’t expect much from the week punctured by a holiday on Thursday where most companies are closed on Friday and traders were bathing at the pool or beach and investors were getting as far away as possible

Sector need: sunscreen before it gets further burned as Q2 results are about to be exposed

I know what a company is supposed to look like, be like and act like to succeed!

 

As the leading voice of cell and gene therapy investors; I am not always a doom and gloom analyst/journalist but a man who has been “there” (BUY, SELL, VC and operating roles) with the gray hair and a readership following with real numbers to prove it!

 

Markets and indexes:

  • The Dow closed down -43.88 points or -0.16% to 26,922.12
  • The S&P closed down -5,41 points or -0.18% at 2,990.41
  • The NASDAQ was down -8.44 points or -0.10% to 8,161.79

 

Henry’omics:

The sector dived while indexes fell from all-time highs after the release of stronger jobs data dampened hope for easier Fed’s monetary policy.

Despite Friday’s losses, the major indexes posted solid weekly gains. The Dow and S&P 500 rose more than 1% each this week while the NASDAQ gained nearly 2%. Markets had posted all-time highs on Wednesday.

The U.S. economy added 224,000 jobs in June. Economists had forecast the U.S. added 165,000 jobs in June, after a stunningly low 75,000 jobs were created in May.

I "feel" a lot of complacency in the next weeks of July ...

 

Friday’s advance/decline line scenario of 45 covered companies:  

  • The open was positive with an A/DL of 25/16 with 2 flats and 2 acquired;
  • The close was negative with an A/DL of 19/22 and 2 flats and 2 acquired

 

Leading incliners were

  • Spark Therapeutics (ONCE +0.59);
  • Adverum (ADVM +$0.54);
  • Cellectis (CLLS +$0.43);
  • Cesca therapeutics (KOOL +$0.38)
  • UniQure (QURE +$0.27)

While the downside stragglers –

  • Sage Therapeutics (SAGE -$3.39);
  • Ultragenyx Pharmaceuticals (RARE - $3.09);
  • Audentes Therapeutics (BOLD -$2.58);
  • bluebird bio (BLUE -$2.20);
  • BioMarin Pharmaceuticals (BMRN -$2.15)

 

Upside volume stats:  to compare

  • Friday: 8 out of the 19 upside had higher than the 3 month average volume;
  • Thursday: was a holiday
  • Wednesday: N/A;
  • Tuesday: N/A
  • Monday:  6 out of the 19 upside had higher than the 3 month average volume;

Downside volume stats:

  • Friday: 2 out of the 22 downside had higher than the 3 month average volume;
  • Thursday: was a holiday
  • Wednesday: N/A;
  • Tuesday: N/A
  • Monday: 6 out of the 23 downside had higher than the 3 month average volume;

 

The week’s percentage (%) indicators: 

  • Friday range of the 19 upside was +0.06% (BLFS +$0.01) to +13.17% (KJOOL +$0.39) while the 23 downside ranged from -0.62% (ALNY) to -6.65% (BOLD);
  • Thursday: was a holiday
  • Wednesday: N/A
  • Tuesday: N/A
  • Monday’s range of the 19 upside was +2.07% (CUR +$0.0061) to +12.73% (RENE.L) while the 23 downside ranged from -0.76% (ALNY) to -9.04% (SLDB);

2 flat – RENE.L and MDXG with 2 acquired (AST & OSIR) and the Spark Therapeutics’ (ONCE) acquisition by Roche still being delayed

 

The iShares NASDAQ Biotechnology (IBB) indicator:

  • Friday: closed down -1.54%;
  • Thursday: was a holiday;
  • Wednesday: N/A
  • Tuesday: N/A
  • Monday closed up +0.58%

 

July’s sessions and the beginning of Q3:

Friday closed NEGATIVE with 23 decliners, 19 advancers, 1 flat and 2 acquired (AST & OSIR);

Thursday was a holiday;

Wednesday closed POSITIIVE with 10 decliners, 31 advancers, 2 flat and 2 acquired (AST & OSIR);

Tuesday closed NEGATIVE with 30 decliners, 11 advancers, 2 flat and 2 acquired (AST & OSIR);

Monday closed NEGATIVE with 23 decliners, 19 advancers, 1 flat and 2 acquired (AST & OSIR);

 

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.