January 23, 2020 5:42pm

Pre-open indications: 4 HITs <(AGTC -$1.49), RENE.L (-$3.00), QURE (+$0.46), sold into strength (MESO +$0.58)> and 4 MISS <(SAGE -$1.38), BLUE -$4.08), GBT (-$1.09) and AXGN (-$0.40),

Framing the main takeaway … pricing, volume and machine trading creates volatility and liquidity!


 

The Dow closed DOWN -26.18 points (-0.09%), the S&P closed UP +3.79 points (-0.11%) and the NASDAQ closed UP +18.71 points (+0.20%)

 

Henry’omics:

Indexes closed little changed on Thursday, recovering most of their losses from earlier in the session, after the World Health Organization quelled some of the fears around the deadly coronavirus.

From this morning’s, Data Docket, weekly jobless claims rose less than expected to 211,000 from 205,000 the week before.

AGTC got burned on P1/2 news, down -$1.49 while BLUE (-$4.08) continued its down ward decline; the gene editors – EDIT (-$1.09), CRSP (-$1.82) and NTLA (-$0.53) also fell under the hammer.

Why are we feeling the pain after all the macro issues …?

As the month slows to an end, Q4 results are being prepared to be released – beware.

Sentiment is also on its low ebb as the former H&Q, now JP Morgan conference didn’t light any sustainable share pricing.

 

Key word for this session – FROTHY. 

I follow the dictum, quoting Churchill that “short words are best, and the old words when short are best of all.”

 

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

  • Thursday the IBB closed down -0.87% and XBI closed down -1.30%
  • Wednesday the IBB closed down -0.17% and XBI closed down -0.22%
  • Tuesday the IBB closed down -1.17% and XBI closed down -1.56%
  • Monday markets were closed

 

The advance/decline line scenario of 35 covered companies:

  • Thursday the close was negative with an A/D line of 13/21, 1 flat of 35 covered,
  • Wednesday the close was positive with an A/D line of 18/17, 0 flat of 35 covered,
  • Tuesday the close was negative with an A/D line of 5/28, 2 flat of 35 covered,
  • Monday markets were closed,

 

Decliners:

  • bluebird bio (BLUE-$4.08 after Wednesday’s -$2.02 and Tuesday’s -$2.22);
  • ReNeuron (RENE.L -$3.00 after Wednesday’s +$10.50, Tuesday’s +$9.00 and last Friday’s +$9.50);
  • CRISPR Therapeutics (CRSP -$3.000;
  • Regenxbio (RGNX -$1.72 after Wednesday’s +$o.60 after Tuesday’s -$1.93);
  • Applied Genetic Technologies (AGTC -$1.49 after Wednesday’s +$1.61 and Tuesday’s +$0.09);

Incliners:

  • Alnylam Pharmaceuticals (ALNY +$2.33 after Wednesday’s -$2.35);
  • Mesoblast (MESO +$0.58 after Wednesday’s +$0.43, Tuesday’s +$0.11 and last Friday’s +$1.14);
  • uniQure (QURE +$0.46 after Wednesday’s -$0.77 and Tuesday’s -$5.36);
  • Homology Medicine (FIXX +$0.31);
  • Fate Therapeutics (FATE +$0.290;

 

The percentage (%) indicators:

  • Thursday’s range of the 13 upside was +0.25% (XON) to +6.76% (ADRO) while the 21  downside ranged from -0.43% (STML) to -15.11% (AGTC); 
  • Wednesday’s 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); 
  • Tuesday’s range of the 5 upside was +0.71% (ADRO) to +5.96% (RENE.L) while the 28 downside ranged from -0.18% (IONS) to -8.94% (AXGN); 
  • Monday markets were closed;

 

Upside volume stats:  to compare

  • Thursday: 5 out of the 13 upside had higher than the 3-month average volume;
  • Wednesday: 5 out of the 18 upside had higher than the 3-month average volume;
  • Tuesday: 2 out of the 5 upside had higher than the 3 month average volume;
  • Monday markets were closed;

Downside volume stats:

  • Thursday: 5 out of the 21 downside had higher than the 3-month average volume;
  • Wednesday: 5 out of the 17 downside had higher than the 3-month average volume;
  • Tuesday: 12 out of the 28 downside had higher than the 3 month average volume;
  • Monday markets were closed;

1 flat - BSTG

 

January’s sessions of 35 covered companies:

Thursday closed NEGATIVE with 21 decliners, 13 advancers and 1 flat;

Wednesday closed POSITIVE with 17 decliners, 18 advancers and 0 flat;

Tuesday closed NEGATIVE with 28 decliners, 5 advancers and 2 flat;

Monday markets were closed

Friday closed NEGATIVE with 20 decliners, 14 advancers and 1 flat;

Thursday closed POSITIVE with 15 decliners, 18 advancers and 2 flat3;

Wednesday closed POSITIVE with 14 decliners, 20 advancers and 1 flat;

Tuesday closed POSITIVE with 7 decliners, 28 advancers and 1 flat;

Thursday closed POSITIVE with 12 decliners, 22 advancers and 1 flat;

Wednesday closed POSITIVE with 10 decliners, 23 advancers and 2 flats;

Tuesday closed POSITIVE with 15 decliners, 22 advancers and 0 flat;

Monday closed POSITIVE with 13 decliners, 22 advancers and 0 flat;

Friday closed NEGATIVE with 19 decliners, 15 advancers and 1 flat;

Thursday closed NEGATIVE with 18 decliners, 15 advancers and 2 flats;

Wednesday markets were closed;

 

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.