September 26, 2019 6:02pm

As house hearings interfere and roil the markets

News: Histogenics Corporation (HSGX) announced that all proposals related to its proposed merger with Ocugen were approved by HSGX’s stockholders at a special meeting held on 9/26/19. As previously announced, the proposed merger will create a public company under which the stockholders of Ocugen will become majority holders of the combined company. Intellia Therapeutics (NTLA) announced today that an arbitration panel issued an Interim Award confirming that certain structural and chemical guide RNA modification technologies were exclusively licensed to NTLA by Caribou Biosciences under the parties’ July 2014 agreement. This Interim Award is subject to additional negotiations between the parties and potentially further arbitration proceedings before it becomes final.

I make a commitment to provide need-to-know “facts in evidence” as equity’s volatility is one tactical signal for stocks.

There are a variety of end uses to sector forecasts; the most prominent, they are used to protect your portfolio’s life and value.

 

The Dow closes down -79.59 (-0.30%), The S&P closed down -7.25 (-0.24%) and the NASDAQ closed down -46.72 (-0.58)

 

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

  • Thursday the IBB closed down -2.05% while the XBI also closed down -2.16%
  • Wednesday the IBB closed down -0.75% while the XBI also closed down -0.78%

 

Henry’omics:

Sector equities fell on Thursday as traders monitored the latest trade developments and assessed a whistleblower complaint against President Donald Trump that was released.

Market turned slightly higher after China’s foreign Minister Wang Yi said the U.S. has shown good will by waiving tariffs and China is willing to buy more American product <Reuters>.

 

Watch as the month and Q3 ends as the sector gets a little toppy by being oversod but, be ready to be depreciated!!

 

The advance/decline line scenario of 45 covered companies:  

  • Thursday the close was negative with an A/D line of 9/32 and 2 flats and 2 acquired;
  • Wednesday the close was negative with an Advance/Decline (A/D) line of 16/26, 1 flat and 2 acquired;

 

Decliners:

  • Sage Therapeutics (SAGE -$6.69);
  • bluebird bio (BLUE +$9.29);
  • Alnylam Pharmaceuticals (ALNY -$2.33);
  • Global Blood therapeutics (GBT -$2.93);
  • uniQure (QURE -$2.80);

Incliners:

  • ReNeuron (RENE.L +$15.00);
  • Applied Genetic Technologies (AGTC +$0.22);
  • Stemline Therapeutics (STML +$0.20);
  • Mesoblast (MESO +$0.12);
  • Neuralstem (CUR +$0.06);

 

The percentage (%) indicators: 

  • Thursday’s range of the 9 upside was +1.13% (CLBS) to +7.50% (RENE.L) while the 32 downside ranged from -0.% () to -% ();
  • Wednesday’s range of the 16 upside was +0.11% (IONS) to +7.73% (HSGX) while the 26 downside ranged from -0.% () to -3.85% (VSTM);

 

Upside volume stats:  to compare

  • Thursday: 5 out of the 9 upside had higher than the 3 month average volume;
  • Wednesday: 4 out of the 16 upside had higher than the 3 month average volume;

Downside volume stats:

  • Thursday: 12 out of the 32 downside had higher than the 3 month average volume;
  • Wednesday: 7 out of the 26 downside had higher than the 3 month average volume;

 

2 flat – XON and MDXG with 2 acquired (AST & OSIR) and Spark Therapeutics’ (ONCE) acquisition by Roche still being delayed (SEPTEMBER?)

 

September’s sessions:

Thursday closed NEGATIVE with 32 decliners, 9 advancers, 2 flat and 2 acquired (AST & OSIR);

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

Tuesday – not reported

Monday – not reported

Friday closed NEGATIVE with xx decliners, xx advancers, x flat and 2 acquired (AST & OSIR);

Thursday closed NEGATIVE with 26 decliners, 14 advancers, 3 flats and 2 acquired (AST & OSIR);

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

Tuesday closed NEGATIVE with 27 decliners, 14 advancers, 2 flat and 2 acquired (AST & OSIR);

Monday closed POSITIVE with 11 decliners, 32 advancers, 0 flat and 2 acquired (AST & OSIR);

Friday closed NEGATIVE with 22 decliners, 18 advancers, 3 flats and 2 acquired (AST & OSIR);

Thursday closed NEGATIVE with 26 decliners, 17 advancers, 0 flats 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.