September 9, 2019 7:52pm

Where is the news of clinical data updates (?); the sector needs to be about “forward motion” and I am not hearing it

Too much quiet on the cell and gene therapy front lines

Insight is about understanding perception and also about putting into context what is relevant to expectation fulfillment

 

The sector is what it is, until it isn’t and even then it doesn’t seem to be…

 

Markets and indexes:

  • The Dow closed up +38.05 points or +0.14% to 26,835.51;
  • The S&P closed down -0.28 points or -0.01% at 2,978.43;
  • The NASDAQ was down -15.64 or -0.19% to 8,087.44;

 

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

  • Monday the IBB closed down -0.41% while the XBI also closed down -0.15%
  • Friday the IBB closed down -0.15% while the XBI also closed down -0.87%

 

Henry’omics:

A slow day in the equities "factory" ...

Monday’s slight gain put the Dow just 2.1% from its record high set in July. The S&P 500 and NASDAQ were 1.6% and 3% below their respective all-time highs.

Small-cap stocks outperformed, as the Russell 2000 climbed 1.3% to 1,524.23 to post its third gain in four sessions.       

 

The advance/decline line scenario of 45 covered companies:  

  • Monday the close was positive with an A/D Line of 25/18 and 0 flat and 2 acquired;
  • Friday the close was negative with an A/D Line of 16/26 and 1 flat and 2 acquired;

 

Decliners:

  • Sage Therapeutics (SAGE -$5.75 after Friday’s -$3.66, Thursday’s -$2.49, Wednesday’s +$1.60 and last Tuesday’s-$10.88;
  • Ultragenyx (RARE -$2.11);
  • Ionis Pharmaceuticals (IONS -$1.63);
  • AxoGen (AXGN -$0.96 after Friday’s +$0.26);
  • Spark therapeutics (ONCE -$0.50);

Incliners:

  • Alnylam Pharmaceuticals ( ALNY +$2.87 after Friday’s-$3.32);
  • uniQure (QURE +$1.23 after Friday’s -$3.18, Thursday’s  -$8.32 after an offering;
  • Homology Medicine (FIXX +$0.85);
  • Cesca Therapeutics (KOOL +$0.59);
  • Global Blood Therapeutics (GBT +$0.38);

 

The percentage (%) indicators: 

  • Monday’s range of the 25 upside was +0.22% (BLUE) to +16.81% (KOOL) while the 18 downside ranged from -0.25% (RENE.L) to -5.84% (AXGN);
  • 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);

 

Upside volume stats:  to compare

  • Monday: 10 out of the 25 upside had higher than the 3 month average volume;
  • Friday: 4 out of the 16 upside had higher than the 3 month average volume;

Downside volume stats:

  • Monday: 6 out of the 18 downside had higher than the 3 month average volume;
  • Friday: 9 out of the 26 downside had higher than the 3 month average volume;

 

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

 

September’s sessions:

Monday closed POSITIVE with 18 decliners, 25 advancers, 0 flat and 2 acquired (AST & OSIR);

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.