January 23, 2020 8:51am

How do I get to third base after positive results?

News: Applied Genetic Technologies Corporation (AGTC pre-open pricing -$2.56 after yesterday’s +$1.61) reported encouraging interim six-month data from the dose-escalation cohorts of its ongoing P1/2 clinical programs in patients with achromatopsia due to mutation in the ACHM CNGB3 or ACHM CNGA3 genes. The interim results from both studies demonstrate encouraging signs of biologic activity and a favorable safety profile.

Pre-open indications:  SELL – 3 and BUY – 5

My version of the morning’s numbers is written to be informative; it’s includes what happened or will beyond the headline and shapes today’s markets as seen by RMi - SUBSCRIBE

 

Dow future are DOWN -0.24% (-70 points), S&P futures are DOWN -0.14% (-5 points) and NASDAQ futures are DOWN -0.02% (-2 points)

 

US futures point to lower open

European stocks retreat on coronavirus fears and Trump’s trade threat as the pan-European Stoxx 600 was down -0.2% by late morning;

Asian Pacific shares tumbled overnight, while Chinese Treasury futures surged, as fears of an economic fallout from the virus sent investors running for cover as the MSCI Asia ex-Japan index fell 1.02%;

 

Data Docket: initial and continuing jobless claims figures for January are due at 8:30 a.m. ET.

 

Henry’omics:

Thursday’s focus will also be attuned to individual stock moves arising from corporate earnings season.

The spread of the China coronavirus has placed renewed downward pressure on global equity markets, with the death toll rising to 17 and the World Health Organization set to reconvene Thursday to decide whether to declare a global health emergency.

The outbreak comes ahead of the Lunar New Year period which is set to kick off on Saturday, with hundreds of millions of Chinese citizens expected to travel domestically or abroad during the period.

 

Wednesday night’s post’s title:  “RegMed Investors’ (RMi) closing bell: the sector grinds and creeps higher.”

  • The NASDAQ closed UP +12.96 points (+0.14%);
  • The IBB closed down -0.17% and XBI closed down -0.22%;
  • The range of the 18 upside was +0.37% (EDIT) to +19.52% (AGTC) while the 17  downside ranged from -0.53% (SLDB) to -4.28% (CLBS);
  • 5 out of the 18 upside had higher than the 3-month average volume;
  • 5 out of the 17 downside had higher than the 3-month average volume;

 

Review Q1:

January registered 8 positive, 6 negative closes and 2 holidays, to date.

Q4:

  • December register 11 negative and 10 positive closes
  • November registered 1 holiday, 12 positive and 8 negative close;
  • October registered 10 positive, 1 neutral and 14 negative closes;

 

Companies in my headlights – It’s your decision; I provide an idea and context:

Pre-open indications:  Sell – AGTC on strength, interum results and possible offeringRENE.L on 3 sessions of forward motion and MESO again on strength; BUY - QURE, SAGE, BLUE, GBT and AXGN

 

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.