May 14, 2020 5:18pm
Emotion plays too much a role in this market, wounding sentiment but, not a pink mist shot. A 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.
Pre-open indications follow-up: 7 HITs < bluebird bio (BLUE -$1.76), Fate Therapeutics (FATE -$0.82), Cellectis SA (CLLS +$3.71), Ultragenyx Pharmaceutical (RARE +$0.65), Pluristem (PSTI $0.94), ReNeuron (RENE.L +$0.00), Athersys (ATHX -$0.11)> and 3 MISS < BioLife Solutions (BLFS-$0.16), Editas Medicine (EDIT -$0.73), Adverum Biotechnologies (ADVM -$0.21), >
An “intelligence newspaper” for smart investing in the RegMed, gene and cell therapy sector. Who is feeding your portfolio - profit from RMi’s analysis! Check the BOTTOM LINE <read more>
The Dow closed UP +377.37 points (+1.62%), the S&P closed UP +32.50 points (+1.15%) while the NASDAQ closed UP +80.55 points (+0.91 %)
Indexes rose after another dismal round of U.S. unemployment data with the major averages remaining on track for their worst weekly performance since March 20. This week, the S&P 500 lost -2.6% and Dow has also lost -2.6% this week while the Nasdaq has fallen 1.9% but, with a positive close.
The sell-off was accentuated by …
- Stocks sold off earlier in the day after the Labor Department reported a total of 2.981 million Americans filed unemployment insurance during the week ending May 9. The number came in worse than expectations of 2.7 million new claims;
- The new claims also brought the coronavirus crisis total to nearly 36.5 million over the past two months, by far the biggest loss in U.S. history. A record of 20.5 million jobs were lost in April alone as the coronavirus-induced economic shutdown tore through the economy, sending the unemployment rate skyrocketing to 14.7%. <CNBC>
Our universe of RegMed/cell and gene therapy has showing less resilience in these past three (3) months than they have been.
As I have stated multiple times, get beyond Q1, prepare for a cataclysmic Q2 and create catalysts to move the sector!
News after the open with share pricing results:
Pluristem Therapeutics (PSTI) reported an update on the status of COVID-19 infected patients treated with PLX cells under a compassionate use program in Israel and the FDA Single Patient Expanded Access Program in the U.S. All treated patients were in Intensive Care Units (ICU), on invasive mechanical ventilation and suffered from Acute Respiratory Distress Syndrome (ARDS) at the time of treatment. As of today, a total of 18 patients were treated in Israel and in the U.S., of which 8 (1 in the U.S. and 7 in Israel) so far have completed a 28-day follow up period. Investors are for once underestimating PSTI’s ability to step-up share pricing (+$0.87 or +9.47% to $10.06.
Mesoblast (MESO) blasted through the upside wall on news of a financing and manufacturing of a stem cell-based therapy; a whole lot of shares (43 million) to absorb with 107 million outstanding and a float of 81.74 million; never forget the Hercules ATM debt vehicle and closed up Thursday +$0.15 after Wednesday’s $0.76
Caladrius Biosciences (CLBS) presented full data results from the ESCaPE-CMD trial of its autologous CD34+ cell therapy, CLBS16. Data showed highly statistically significant improvement in coronary flow reserve (“CFR”) correlating with symptom relief for patients with coronary microvascular dysfunction (“CMD”) after a single intracoronary injection of CLBS16 as the share price dropped -$0.46 or -21.30% to $1.70.
Volume LOW with 2 out of the 8-upside having higher than the 3-month average volume and 4 out of the 24-downside having higher than the 3-month average volume. The percentage (%) of the 8-upside were +0.55% (MDXG) to +27.08% (CLLS) while the 24-downside ranged from -0.16% (STML) to -21.3% (CLBS).
Hammered in today’s market:
- Alnylam Pharmaceuticals (ALNY), Ionis Pharmaceuticals (IONS), bluebird bio (BLUE), CRISPR Therapeutics (CRSP), Sage Therapeutics (SAGE) and Global Blood Therapeutics (GBT) to name a few of the 24 of the 35 covered
Jumping with momentum:
- Cellectis SA (CLLS), Pluristem (PSTI), Ultragenyx (RARE), Intellia Therapeutics (NTLA), Bellicum Pharmaceuticals (BLCM), Mesoblast (MESO), MiMedx (MDXG) and Sangamo Therapeutics (SGMO) to name 8 of the 8 trading up
Q1/2020 results will be disseminated through RegMed Earnings Scorecard - Q1/20 - to date https://www.regmedinvestors.com/articles/11332 - 25 of 35 so far …
The iShares NASDAQ Biotechnology (IBB) and the SPDR S&P ETF (XBI) indicators:
- Thursday, the IBB closed down -0.45% and XBI also closed down -0.92%
- Wednesday, the IBB closed down -1.11% and XBI also closed down -1.99%
- Tuesday, the IBB closed down -2.13% and XBI also closed down -2.16%
- Monday, the IBB closed up +4.28% and XBI also closed up +4.77%
The CBOE Volatility Index (VVIX: INDEX) tracked:
- Thursday was down -2.81 points or -7.96% at 32.47,
- Wednesday was up +1.89 points or +5.60% at 34.84,
- Tuesday was up +5.47 points or +19.84% at 33.04,
- Monday was down -0.41 points or -1.47% at 27.57,
RegMed/Cell and gene therapy 35 covered equities’ Advance/Decline (A/D) lines: progressions and regressions …
- Thursday opened negative at 3/31 and 1 flat, stayed negative at the mid-day at 12/19 and 4 flats and closed negative at 8/24 and 3 flats;
- Wednesday opened negative at 10/23 and 2 flats, stayed negative at the mid-day at 2/32 and 1 flat and closed negative at 3/31 and 1 flat;
- Tuesday opened negative at 5/28 and 2 flats, popped positive at the mid-day at 25/8 and 2 flats and closed negative at 11/21 and 3 flats;
- Monday opened positive at 17/14 and 4 flats, stayed positive at the mid-day at 24/9 and 2 flats and closed positive at 24/9 and 2 flats;
Thursday’s (only 8) incliners:
- Cellectis SA (CLLS) +$3.71);
- Pluristem (PSTI +$0.87)
- Ultragenyx (RARE +$0.65 after Wednesday’s -$2.22, Tuesday’s -$1.07, and Monday’s +$3.52);
- Intellia Therapeutics (NTLA +$0.60);
- Bellicum Pharmaceuticals (BLCM +$0.30);
- Sangamo Therapeutics (SGMO +$0.23);
- Mesoblast (MESO +$0.17 after yesterday’s +$0.76);
- MiMedx (MDXG +$0.02 after Wednesday’s +$0.025);
Thursday’s (bottom 10) decliners:
- Alnylam Pharmaceuticals (ALNY -$3.26 after Wednesday’s -$4.53, Tuesday’s +$1.76 and Monday’s +$6.30);
- Ionis Pharmaceuticals (IONS -$2.10);
- bluebird bio (BLUE -$1.76);
- Global Blood Therapeutics (GBT -$1.57 after Wednesday’s -$3.40, Tuesday’s -$3.14 and Monday’s -$0.20);
- CRISPR Therapeutics (CRSP -$1.49 after Wednesday’s -$2.08, Tuesday’s -$1.74 and Monday’s +$7.45);
- Sage Therapeutics (SAGE -$1.45 after Wednesday’s -$1.96 and Tuesday’s -$1.84);
- Fate Therapeutics (FATE -$0.82);
- Regenxbio (RGNX -$0.81 after Wednesday’s -$3.05, Tuesday’s -$0.96 and Monday’s +$2.40);
- Homology Medicine (FIXX -$0.51);
- Caladrius Biosciences (CLBS -$0.46);
Percentage (%) movement/range statistics: look closely …
- Thursday’s % of the 8-upside were +0.55% (MDXG) to +27.08% (CLLS) while the 24-downside ranged from -0.16% (STML) to -21.3% (CLBS);
- Wednesday’s % of the 3-upside were +0.70% (MDXG) to +6.67% (MESO) while the 31-downside ranged from -0.37% (STML) to -8.61% (CLLS);
- Tuesday’s % of the 11-upside were +0.41% (STML) to +8.78% (CLBS) while the 21-downside ranged from -0.42% (MDXG) to -13.46% (BLCM);
- Monday’s % of the 24-upside were +0.33% (SAGE) to +15.14% (ATHX) while the 9-downside ranged from -0.12% (STML) to -4.22% (RENE.L);
Sentiment and a few daily indicators:
The indexes were stripped and then felt some optimism after the oversold started to roll-over after the Dow traded higher +1.62%, after falling earlier in the session. The S&P 500 climbed +1.15% after being down -1% while the Nasdaq followed the same path to trade +0.91% higher after being down -0.1% at the open.
- What’s the name of the show that zombies are accepted back into society?
The number of confirmed U.S. coronavirus cases: every day I get sadder as I post these numbers …
- Thursday 1.4 million,
- Wednesday 1.3 million,
- Tuesday 1.3 million,
- Monday 1.3 million,
Thursday’s death rate escalated to a total of 85,066 after Wednesday’s 82,806, Tuesday’s 80,897 and Monday’s 79,894 <John Hopkins University>
Upside volume stats:
- Thursday: 3 out of the 8-upside had higher than the 3-month average volume;
- Wednesday: 11 out of the 32-upside had higher than the 3-month average volume;
- Tuesday: 8 out of the 11-upside had higher than the 3-month average volume;
- Monday: 12 out of the 24-upside had higher than the 3-month average volume;
Downside volume stats:
- Thursday: 4 out of the 24-downside had higher than the 3-month average volume;
- Wednesday: 2 out of the 3-downside had higher than the 3-month average volume;
- Tuesday: 9 out of the 21-downside had higher than the 3-month average volume;
- Monday: 2 out of the 9-downside had higher than the 3-month average volume;
Closing flat: Biostage (BSTG), ReNeuron (RENE.L) and Solid Biosciences (SLDB)
Thursday closed negative with 24 decliners, 8 advancer and 3 flats
Wednesday closed negative with 31 decliners, 3 advancer and 1 flat
Tuesday closed negative with 21 decliners, 11 advancer and 3 flats
Monday (5/11) closed positive with 9 decliners, 24 advancer and 2 flats
Friday closed positive with 12 decliners, 20 advancer and 3 flats
Thursday closed negative with 22 decliners, 11 advancer and 2 flats
Wednesday closed positive with 13 decliners, 20 advancer and 2 flats
Tuesday closed positive with 10 decliners, 25 advancer and 0 flats
Monday (5/4) closed positive with 7 decliners, 28 advancer and 0 flats
Friday (5/1) closed negative with 25 decliners, 8 advancer and 2 flats
The BOTTOM LINE: From last night’s post, “the Fed spun the web, traders dug a hole and we jumped in digging deeper, the key is getting up and out by getting-on each other’s shoulders.”
In my age group, nobody’s ever been through anything like this. … we’re just hoping to find the right formula to facilitate portfolio renewal (indications, clouded insight, confusing and often contradictory data that … solidifies my “early” warning analysis).
As a quantamental “plotter” which equates to a quantitative analyst straddling fundamental stock picking to produce better results for investors; I provide a 24-hour surveillance of “our” universe, the RegMed/cell and gene therapy sector and its surrounding markets as o-dark-hundred comes very early every morning.
As I have noted in the past posts, Humpty-Dumpty had a great fall nevertheless, Humpty-Dumpty was not an egg but, a cannon that fired and then fell off a battlement unable to be saved. The rhyme was created to symbolize Wednesday’s and today’s (Thursday) action which reveals a BUYING actions to (ME) come.
The sector and overall stock market consistently rise and falls with alternating volatility and spasmodic momentum contractions which I call “paroxysms”
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.