February 19, 2020 6:53pm

“An earning’s beat or miss may NOT be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earning’s beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earning’s miss. <Zacks>

Pre-open indications: 8 HITs < AGTC (+$0.14), PSTI (-$0.09), ALNY (+$0.32), CRSP (+$2.42), CLLS (+$1.56), GBT (+$0.19), NTLA (+$0.56), RGNX (+$0.59)> and 1 MISS <AXGN (+$0.10)>

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

 

The Dow closed UP +115.84 points (+0.40%), the S&P closed UP +15.86 points (+0.47%) while the NASDAQ closed UP +84.44 points (+0.87%)

 

Henry’omics:

The Dow and the S&P 500 were coming off losing sessions; all-time highs are being achieved; watch-out for the slippage!

RMi’s daily report may say little or a lot and its final judgement may be inconclusive; yet it serves as insurance that all indications are being examined and evaluated.

Staying in yesterday’s pricing doghouse were:

  • bluebird bio (BLUE) – after per share difficulties between FY19 and FY18
  • ReNeuron (RENE.L) – the usual roller-coaster;
  • Pluristem (PSTI) - deflated;
  • Joining the crowd was Brainstorm Cell Therapeutics (BCLI) from yesterday’s high – a VERY short runway;

Breaking out of the yard were:

  • uniQure NV (QURE) – barking again;
  • Cellectis SA (CLLS) – after yesterday’s fall;
  • AxoGen (AXGN) – again
  • Ionis Pharmaceuticals (IONS);
  • Fate Therapeutics (FATE +$0.69 after Tuesday’s +$0.05 following Friday’s +$0.76)
  • Global Blood Therapeutics (GBT +0.19 after yesterday’s +$0.43).

China’s National Health Commission on Wednesday reported an additional 1,749 cases of the coronavirus nationwide. That’s the lowest number of newly confirmed cases since late January. <CNBC>

From my a.m. Data Docket, the Labor Department's producer price index (PPI) rose by 0.5% in January, marking its biggest one-month increase since October 2018. The Fed also released the minutes from its January meeting, showing central bank officials think rates will … remain at current levels for the time being

 

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

I know what a company is supposed to look like, be like, and smell like to succeed.

What is fair game … as defined as a legitimate object of attack?

 

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

  • Wednesday the IBB closed up +0.96% and XBI closed up +0.74%
  • Tuesday the IBB closed up +0.05% and XBI closed up +0.52%
  • Monday: markets were closed;

 

The advance/decline line scenario of 35 covered companies:

  • Wednesday the close was positive with an A/D line of 25/10, 0 flat of 35 covered;
  • Tuesday the close was positive with an A/D line of 18/16, 1 flat of 35 covered;
  • Monday: markets were closed;

 

Decliners:

  • bluebird bio (BLUE -$7.77 after Tuesday’s -$1.09);
  • ReNeuron (RENE.L -$2.50 after Tuesday’s -$3.50 and Friday’s -$2.50);
  • Brainstorm Cell Therapeutics (BCLI -$0.37 after Tuesday’s +$1.17);
  • Editas Medicine (EDIT -$0.37);
  • Biostage (BSTG -$0.27);

 

Incliners:

  • CRISPR Therapeutics (CRSP +$2.42);
  • uniQure NV (QURE +$2.17 after Tuesday’s -$0.48);
  • Cellectis SA (CLLS +$1.56 after Tuesday’s -$0.44);
  • BioLife Solutions (BLFS +$0.78);
  • Fate therapeutics (FATE +$0.69);

 

The percentage (%) indicators:

  • Wednesday’s range of the 25-upside was +0.11% (VCEL) to +9.16% (CLLS) while the 10-downside ranged from -0.13% (SGMO) to -10.63% (BSTG); 
  • Tuesday’s range of the 18-upside was +0.16% (FATE) to +22.67% (BCLI) while the -16-downside ranged from -0.02% (ALNY) to -3.35% (MESO); 
  • Monday: markets were closed

 

Upside volume stats:  to compare

  • Wednesday: 4 out of the 25-upside had higher than the 3-month average volume;
  • Tuesday: 5 out of the 18-upside had higher than the 3-month average volume;
  • Monday: markets were closed

 

Downside volume stats:

  • Wednesday: 3 out of the 10-downside had higher than the 3-month average volume;
  • Tuesday: 4 out of the 16-downside had higher than the 3-month average volume;
  • Monday: markets were closed;

 

0 flat  

 

February

Wednesday closed positive with 10 decliners, 25 advancers and 0 flat

Tuesday closed positive with 16 decliners, 18 advancers and 1 flat

Monday markets were closed for President’s Day holiday

Friday closed negative with 19 decliners, 14 advancers and 2 flats

Thursday closed negative with 20 decliners, 13 advancers and 2 flats

Wednesday closed positive with 8 decliners, 26 advancers and 1 flat

Tuesday closed positive with 12 decliners, 22 advancers and 1 flat

Monday closed positive with 6 decliners, 26 advancers and 3 flats

Friday closed negative with 26 decliners, 9 advancers and 0 flat

Thursday closed negative with 23 decliners, 12 advancers and 0 flat

Wednesday closed positive with 5 decliners, 27 advancers and 3 flats

Tuesday closed positive with 5 decliners, 30 advancers and 0 flats

Monday (2/3) closed positive with 8 decliners, 24 advancers and 3 flats

 

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.