August 8, 2019 6:36pm
Thank you traders, the oversold were recognized while volumes were still low to modest
Earnings: BioLife Solutions (BLFS), Caladrius Biosciences (CLBS) and BioTime (NYSEMKT: BTX)
The week so far in review
Are the estimates so hard to fathom in â€śourâ€ť universeâ€™s journey through the Q2/19â€™s reporting cycle!
The answer is still â€“ NO!
Markets and indexes:
- The Dow closed up +396.96 points or +1.30% to 26,344.03;
- The S&P closed up +54.11 points or +1.88% at 2,938.09;
- The NASDAQ was up +176.33 or +2.24% to 8,039.15;
The iShares NASDAQ Biotechnology (IBB) and the SPDR S&P ETF (XBI) indicators:
- Thursday the IBB closed up +1.79% while the XBI closed up +1.76%
- Wednesday the IBB closed up +0.27% while the XBI closed up +0.30%
- Tuesday the IBB closed up +1.42% while the XBI closed up +2.20%
- Monday the IBB closed down -2.65% while the XBI closed down-3.25%
We saw a lot of cell and gene therapy pop after they had gotten hammered!
Sector equities rose, erasing most of â€śourâ€ť universe losses after two (2) sessions of negative and two (2) positive closes in the week as investors digested better-than-expected trade data out of China.
U.S. economic data pointed to a robust labor market as the number of Americans filing applications for unemployment benefits unexpectedly fell last week, allaying some worries about the potential for a recession and helping U.S. Treasury yields rise.
Itâ€™s the usual normal after a decline there follows an incline.
Thursdayâ€™s gains in the NASDAQ recovered most of the losses while staging a strong comeback.
Pre-open post, â€śstabilized pricing is needed; too much value has disappeared from macro headlines, volatility and low volumes. Itâ€™s simple, clinical initiatives need to be driven by trial data results. I am tired of what the yuan is priced; it should not reflect the pricing of â€śourâ€ť universe!â€ť
The advance/decline line scenario of 45 covered companies:
- Thursday the close was positive with an A/D Line of 28/11 and 3 flats and 2 acquired;
- Wednesday the close was negative with an A/D Line of 19/21 and 2 flats and 2 acquired;
- Tuesday the close was positive with an A/D Line of 32/10 and 1 flat and 2 acquired;
- Monday the close was negative with an A/D Line of 2/41 and 0 flat and 2 acquired;
- Stemline Therapeutics (STML -$1.10 after Wednesdayâ€™s +$0.80) and an offering announcement;
- uniQure (QURE -$0.55);
- Sangamo Therapeutics (SGMO -$0.20);
- Caladrius Biosciences (CLBS -$0.11);
- Athersys (ATHX -$0.08);
- ReNeuron (RENE.L -+$4.25 after Wednesdayâ€™s -$7.00, Tuesdayâ€™s -$5.00 and Mondayâ€™s -$18.00);
- Sage Therapeutics (SAGE +$4.21 after Wednesdayâ€™s +$5.93, Tuesdayâ€™s +$5.70 and Mondayâ€™s -$4.12);
- bluebird bio (BLUE +$3.57);
- Ultragenyx (RARE +$2.58 after Wednesdayâ€™s+$3.61 and Tuesdayâ€™s +$3.84);
- Alnylam Pharmaceuticals (ALNY +$2.47)
The percentage (%) indicators:
- Thursdayâ€™s range of the 28 upside was +0.26% (BMRN) to +7.84% (MESO) while the 11 downside ranged from -0.04% (GBT) to -7.93% (ONVO);
- Wednesdayâ€™s range of the 19 upside was +0.14% (BCLI) to +8.23% (ALNY) while the 21 downside ranged from -0.22% (BLUE) to -29.24% (AXGN);
- Tuesdayâ€™s range of the 32 upside was +0.20% (VYGR) to +17.40% (STML) while the 10 downside ranged from -0.01% (BMRN) to -4.62% (BLCM);
- Mondayâ€™s range of the 2 upside was +0.63% (ADVM) to +1.02% (KOOL +$0.03) while the 41 downside ranged from -0.21% (ONCE) to -9.80% (CRSP);
Upside volume stats: to compare
- Thursday: 11 out of the 28 upside had higher than the 3 month average volume;
- Wednesday: 5 out of the 19 upside had higher than the 3 month average volume;
- Tuesday: 10 out of the 32 upside had higher than the 3 month average volume;
- Monday: 1 out of the 2 upside had higher than the 3 month average volume;
Downside volume stats: NOTICE
- Thursday: 5 out of the 11 downside had higher than the 3 month average volume;
- Wednesday: 10 out of the 21 downside had higher than the 3 month average volume;
- Tuesday: 2 out of the 10 downside had higher than the 3 month average volume;
- Monday: 18 out of the 31 downside had higher than the 3 month average volume;
2 flat â€“ BSTG and KOOL with 2 acquired (AST & OSIR) with the Spark Therapeuticsâ€™ (ONCE) acquisition by Roche still being delayed (SEPTEMBER?)
Thursday closed POSITIVE with 11 decliners, 28 advancers, 2 flats and 2 acquired (AST & OSIR);
Wednesday closed NEGATIVE with 21 decliners, 19 advancers, 3 flats and 2 acquired (AST & OSIR);
Tuesday closed POSITIVE with 10 decliners, 32 advancers, 1 flat and 2 acquired (AST & OSIR);
Monday closed NEGATIVE with 41 decliners, 2 advancers, 0 flat and 2 acquired (AST & OSIR);
Friday closed NEGATIVE with 34 decliners, 8 advancers, 1 flat and 2 acquired (AST & OSIR);
Thursday closed POSITIVE with 19 decliners, 22 advancers, 2 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.