Indication intelligence, analysis and sector perception

RegMed Investors’ (RMi) closing bell: the sector follows the markets

July 10, 2019 8:19pm

Volume was low, as the NASDAQ popped and the IBB dipped -0.28%

Investor gains flowed from the Fed’s dovish outlook on interest rate policy; but, what’s going to keep share pricing at these levels for a period longer than one to two sessions?

Pre-open indications: 2 HITs and 1 MISS

What is fair game … as defined as a legitimate object for selling?

The remainder of the month’s trading sessions will be critical for the RegMed sector which will establish whether market reaction to recent events is temporary and short-lived, or if this is a continuation of a more fundamental correction.

Markets and indexes:

The Dow closed up +76.71 points or +0.29% to 26,860.20
The S&P closed up +13.44 points or +0.45% at 2,993.07
The NASDAQ was up +60.80 points or +0.75% to 8,202.53

Henry’omics:

Stocks reached record highs Wednesday after testimony from Federal Reserve Chair Jerome Powell bolstered the case for easier monetary policy in the U.S.

The sector jumped on Wednesday (after diving Tuesday, Monday and Friday) led by ReNeuron (RENE.L (+$20.00) while the downside was led by uniQure (QURE -$2.89).

Lucky that the sector mirrored the market ... thankfully yet, what will keep the sector from going back into the ...toilet!

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

The open was positive with an A/DL of 27/213with 3 flats and 2 acquired;
The mid-day was positive with an A/DL of 26/15 with 2 flats and 2 acquired;
The close was positive with an A/DL of 25/16 and 2 flats and 2 acquired

Pre-open indications:

Adverum Biotechnologies (ADVM) closed up +$0.76 – miss;
BioLife Solutions (BLFS) closed down --$0.88 – hit;
ReNeuron (RENE.L) closed up +$20.00 – hit;

Leading incliner stand-outs were:

ReNeuron (RENE.L +$20.00 after Tuesday’s +$10.00 and Monday’s +$10.00)
Sage Therapeutics (SAGE +$2.66 after Tuesday’s +$1.76 after Monday’s +$1.69);
BioMarin Pharmaceuticals (BMRN +$1.98 after Tuesday’s -$2.00 and Monday’s -$1.61);
Ultragenyx (RARE +$1.96 after Tuesday’s -$2.75 and Monday’s -$3.15);
CRISPER Therapeutics (CRSP +$1.80);

While the downside stragglers –

uniQure (QURE -$2.89 after Tuesday’s -$1.77 after Monday’s -$1.73);
Homology Medicine (FIXX -$1.10 after Tuesday’s +$0.13 after Monday’s +$0.27)
Spark Therapeutics (ONCE -$1.09 after Tuesday’s -$1.96 and Monday’s -$1.89);
BioLife Solutions (BLFS -$0.88 after Tuesday’s +$0.94 after Monday’s +$2.50);
Regenxbio (RGNX -$0.55 after Tuesday’s-$1.84 and Monday’s -$2.34);

Upside volume stats: to compare

Wednesday: 4 out of the 25 upside had higher than the 3 month average volume;
Tuesday: 7 out of the 13 upside had higher than the 3 month average volume;
Monday: 8 out of the 18 upside had higher than the 3 month average volume;

Downside volume stats: NOTICE

Wednesday: 4 out of the 16 downside had higher than the 3 month average volume;
Tuesday: 0 out of the 29 downside had higher than the 3 month average volume;
Monday: 7 out of the 24 downside had higher than the 3 month average volume;

The percentage (%) indicators:

Wednesday’s range of the 25 upside was +0.05% (AXGN) to +7.84% (RENE.L) while the 16 downside ranged from -0.56% (BLCM) to -6.14% (ONVO);
Tuesday’s range of the 13 upside was +0.28% (BLCM) to +11.10% (ADVM) while the 29 downside ranged from -0.17% (BLUE) to -5.71% (VSTM);
Monday’s range of the 18 upside was +0.06% (BLUE) to +22.53% (ADVM) while the 24 downside ranged from -0.10% (AXGN) to -5.29% (RARE);

2 flat – BCLI and FATE with 2 acquired (AST & OSIR) and the Spark Therapeutics’ (ONCE) acquisition by Roche still being delayed

The iShares NASDAQ Biotechnology (IBB) indicator:

Wednesday: closed down -0.28%;
Tuesday: closed up +1.02%;
Monday: closed down -1.36%;

July’s sessions and the beginning of Q3:

Wednesday closed POSITIVE with 25 decliners, 16 advancers, 2 flat and 2 acquired (AST & OSIR);

Tuesday closed NEGATIVE with 29 decliners, 13 advancers, 1 flat and 2 acquired (AST & OSIR);

Monday closed NEGATIVE with 24 decliners, 18 advancers, 1 flat and 2 acquired (AST & OSIR);

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

Thursday was a holiday;

Wednesday closed POSITIVE 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.

35 companies, 1 interpreter!

Insight, foresight and recommendation

My motto … never leave an investor uninformed! I say today what others won’t, so you can do what others can’t.

My name is Henry McCusker; I endorse these opinions under my own name and with a subscription based membership.

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Editor and Publisher ... Henry McCusker enters his tenth (10th) year at RegMed Investors with past experience in sell-side analysis, buy-side management, corporate management and due diligence.

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The facts stated and the opinions given in this publication are based on data and information considered to be reliable and have been carefully worked into my qualitative analyses and prognoses. However, no guarantee can be given as to their fairness, accuracy or completeness.

Henry McCusker, the editor and publisher of RegMed Investors does not hold or have positions in securities referred to in this publication.