September 8, 2019 2:43pm

The remainder of the month’s trading sessions will be critical for the cell and gene therapy sector which will establish whether August and the quarter (Q3) continue with downdrafts

Friday’s session and week in review

The 6 W’s: Who, what, where, when, why and what of it … the real question is … next in a volatile market!

 

We crave explanations of “our” universe within this market because they give us an illusion of control. The philosopher Friedrich Nietzsche once observed that "any explanation is better than none."

 

Markets and indexes:

  • The Dow closed up +69.31 points or +0.36% to 26,797.46;
  • The S&P closed up +2.71 points or +0.09% at 2,978.71;
  • The NASDAQ was down -13.75 or -0.17% to 8,103.07;

 

The iShares NASDAQ Biotechnology (IBB) and the SPDR S&P ETF (XBI) indicators:

  • Friday the IBB closed down -0.15% while the XBI also closed down -0.87%
  • Thursday the IBB closed up +1.17% while the XBI also closed up +1.48%
  • Wednesday the IBB closed up +0.06% while the XBI also closed up +0.51%
  • Tuesday the IBB closed down -1.67% while the XBI also closed down -1.81%
  • Monday was a holiday

 

Henry’omics:

Sector equities purged on Friday after Thursday’s surge as shaky geopolitics keep wearisome traders skimming the “pot’!

As I had stated on Thursday, any surge lately is followed by a purge … SELL … some highs or the machines will do it for your portfolio!

I said it was coming and it came!

For the week, the Dow and S&P 500 both gained at least 1.5% while the NASDAQ climbed 1.8%. Those gains came amid hopes that the world’s two largest economies could soon make substantial progress in de-escalating their protracted trade dispute.

What more is to write or say, the carnival includes the roller-coaster, slides and the teacup rides!

 

The advance/decline line scenario of 45 covered companies:  

  • Friday the close was negative with an A/D Line of 16/26 and 1 flat and 2 acquired;
  • Thursday the close was positive with an A/D Line of 31/11 and 1 flat and 2 acquired;
  • Wednesday the close was positive with an A/D Line of 22/20 and 1 flat and 2 acquired;
  • Tuesday the close was negative with an A/D Line of 12/29 and 2 flats and 2 acquired;
  • Monday was a holiday;

 

Decliners:

  • ReNeuron (RENE.L -$14.50 after Thursday -$7.50, Wednesday’s -$4.99 and Tuesday’s -$7.50;
  • Sage Therapeutics (SAGE -$3.66 after Thursday’s -$2.49, Wednesday’s +$1.60 and Tuesday’s-$10.88;
  • Alnylam Pharmaceuticals (-$3.32);
  • bluebird bio (BLUE -$3.30 after Thursday’s+$2.68, Wednesday’s -0.77 and Tuesday’s -$2.49;
  • uniQure (QURE -$3.18 after Thursday’s  -$8.32 after announcing an offering;

Incliners:

  • Solid Biosciences (SLDB +$0.67);
  • Applied Genetic Technologies (AGTC +$0.56);
  • Biostage (BSTG +$0.34);
  • Editas Medicine (EDIT +$0.27);
  • AxoGen (AXGN +$0.26);

 

The percentage (%) indicators: 

  • Friday’s range of the 16 upside was +0.21% (ONCE) to +17.50% (AGTC) while the 26 downside ranged from -0.39% (MESO) to -6.74% (RENE.L);
  • Thursday’s range of the 31 upside was +0.49% (BMRN) to +10.89% (GBT) while the 11 downside ranged from -0.49% (RGNX) to -14.86% (QURE);
  • Wednesday’s range of the 22 upside was +0.21% (IONS) to +9.24% (ADVM) while the 20 downside ranged from -0.10% (SGMO) to -12.15% (RARE);
  • Tuesday’s range of the 12 upside was +0.48% (FIXX) to +8.62% (HSGX) while the 29 downside ranged from -0.20% (GBT) to -7.08% (BTX);
  • Monday markets were closed;

 

Upside volume stats:  to compare

  • Friday: 4 out of the 16 upside had higher than the 3 month average volume;
  • Thursday: 7 out of the 31 upside had higher than the 3 month average volume;
  • Wednesday: 2 out of the 22 upside had higher than the 3 month average volume;
  • Tuesday: 6 out of the 12 upside had higher than the 3 month average volume;
  • Monday was Labor Day;

Downside volume stats:

  • Friday: 9 out of the 26 downside had higher than the 3 month average volume;
  • Thursday: 4 out of the 11 downside had higher than the 3 month average volume;
  • Wednesday: 7 out of the 20 downside had higher than the 3 month average volume;
  • Tuesday: 3 out of the 29 downside had higher than the 3 month average volume;
  • Monday markets were closed; 

 

1 flat – CUR with 2 acquired (AST & OSIR) with the Spark Therapeutics’ (ONCE) acquisition by Roche still being delayed (SEPTEMBER?)

 

September’s sessions:

Friday closed NEGATIVE with 26 decliners, 16 advancers, 1 flat and 2 acquired (AST & OSIR);

Thursday closed POSITIVE with 11 decliners, 31 advancers, 1 flat and 2 acquired (AST & OSIR);

Wednesday closed POSITIVE with 20 decliners, 22 advancers, 1 flat and 2 acquired (AST & OSIR);

Tuesday closed NEGATIVE with 29 decliners, 12 advancers, 2 flats and 2 acquired (AST & OSIR);

Monday was Labor Day

 

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.