November 12, 2019 7:41am
… As the overbought barrel sprung a leak
Following the market closing lower amid lingering U.S.- China trade worries while protests in Hong Kong escalated
In “our’ universe of cell and gene therapy, we are betting on the hope for a cure or a treatment but, we are dependent on the management team to represent our hopes and aspirations.
Anyone who reads my newsletter knows that I am about making money, no matter what happens in the sector.
The Dow closed UP +10.25 points (+0.04%), the S&P closed DOWN -6.07 points (-0.20%) and the NASDAQ closed DOWN -11.03 points (-0.13%)
The iShares NASDAQ Biotechnology (IBB) and the SPDR S&P ETF (XBI) indicators:
- Monday the IBB closed down -0.32% while the XBI closed down -0.27%
- Friday the IBB closed up +1.86% while the XBI closed up +2.08%
The advance/decline line scenario of 45 covered companies:
- Monday the close was negative with an A/D line of 14/27, 1 flats, 1 reversed merged (HSGX) and 2 acquired;
- Friday the close was positive with an A/D line of 29/11, 2 flats, 1 reversed merged (HSGX) and 2 acquired;
A holiday for some; the bond market was closed, many traders and investors with children stayed home as schools were closed thus volume was very low with many equities ready to be value plucked while some stocks felt little moves.
- Bluebird bio (BLUE -$5.01 after Friday’s +$2.02 and Thursday’s -$2.04);
- ReNeuron (RENE.L -$3.10);
- Sage Therapeutics (SAGE -$2.06 after Friday’s+$7.47, Thursday’s -$0.67 and Wednesday’s -$5.73);
- Audentes Therapeutics (BOLD -$1.47 after Friday’s +$1.49);
- Ultragenyx (RARE -$1.40);
- Stemline Therapeutics (STML +$0.50)= after Friday’s -$1.190;
- Cellectis SA (CLLS +$0.50);
- Adverum (ADVM +$0.43);
- CRISPR Therapeutics (CRSP +$0.37 after Friday’s +$1.53,Thursday’s +$1.18, Wednesday’s+$1.23 and last Tuesday’s -$1.56;
- Vericel (VCEL (+$0.350
The percentage (%) indicators:
- Monday’s range of the 14 upside was +0.07% (AXGN) to +7.31% (KOOL) while the 27 downside ranged from -0.17% (ONCE) to -16.94% (CUR);
- Friday’s range of the 29 upside was +0.03% (ONCE) to +10.28% (ADRO) while the 11 downside ranged from -0.30% (BLFS) to -16.94% (CUR);
Upside volume stats: to compare
- Monday: 1 out of the 14 upside had higher than the 3 month average volume;
- Friday: 8 out of the 29 upside had higher than the 3 month average volume;
Downside volume stats:
- Monday: 3 out of the 27 downside had higher than the 3 month average volume;
- Friday: 7 out of the 11 downside had higher than the 3 month average volume;
1 flat – BSTG with 1 reverse merged (HSGX), 2 acquired (AST & OSIR) and Spark Therapeutics’ (ONCE) acquisition by Roche could be soon according to rumors from FTC by year’s end.
Monday closed NEGAIVE with 27 decliners, 14 advancers, 1 flats and 2 acquired (AST & OSIR) and 1 reversed (HSGX);
Friday closed POSITIVE with 11 decliners, 29 advancers, 2 flats and 2 acquired (AST & OSIR) and 1 reversed (HSGX);
Thursday closed POSITIVE with 18 decliners, 21 advancers, 3 flats and 2 acquired (AST & OSIR) and 1 reversed (HSGX);
Wednesday closed NEGATIVE with 27 decliners, 13 advancers, 2 flats and 2 acquired (AST & OSIR) and 1 reversed (HSGX);
Tuesday closed POSITIVE with 17 decliners, 23 advancers, 2 flats and 2 acquired (AST & OSIR) and 1 reversed (HSGX);
Monday closed NEGATIVE with19 decliners, 22 advancers, 1 flat and 2 acquired (AST & OSIR) and 1 reversed (HSGX);
Friday closed POSITIVE with 7 decliners, 33 advancers, 2 flats and 2 acquired (AST & OSIR) and 1 reversed (HSGX);
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.