May 29, 2020 7:22pm

Pre-open indications follow-up results: 2 HITs and 2 MISS <who>

The week in review, choppy yet, the RegMed/Cell and Gene therapy sector closed today - positive

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The Dow closed DOWN -17.53 points (-0.07%), the S&P closed UP +14.58 points (+0.48%) while the NASDAQ closed UP +120.88 points (+1.29%)

 

Pre-open indications follow-up results: 1 HIT < Regenxbio (RGNX -$2.18)> and 3 MISS < Adverum Biotechnologies (ADVM +$0.31), Sage Therapeutics (SGMO -$1.66) Mesoblast (MESO +$0.18)>

 

Henry’omics:

Indexes initially declined and rose slightly on Friday, erasing some losses from the morning and mid-day session, as traders breathed a sigh of relief after President Trump signaled no changes to the trade deal with China despite rising tensions.

The S&P 500 (+3%) and the Dow gained 3% on the week, bringing their advance in May to (S&P) 4.5% and (DOW) 4.2%. The Nasdaq rose 1.7% this week, pushing its rally this month to 6.7%.

 I was expecting more from the White House as headwinds to the future are blowing!

 

RegMed/Cell and Gene therapy 35 covered equities’ Advance/Decline (A/D) lines: progressions and regressions …

  • Friday opened negative at 12/20 and 3 flats, stayed negative at the mid-day at 9/24 and 2 flats, closing positive at 19/15 and 1 flat;
  • Thursday opened positive at 18/16 and 1 flat, stayed positive at the mid-day at 22/12 and 1 flat, closing negative at 8/30 and 2 flats;
  • Wednesday opened negative at 11/23 and 1 flat, stayed negative at the mid-day at 13/22 and closed positive at 20/15;
  • Tuesday opened positive at 27/8, strayed neutral at the mid-day at 17/17 and 1 flat and closed negative at 10/25;
  • Monday- markets closed for holiday

 

Key metrics:

  • Volume was WEAK with 6 out of the 19-upside having higher than the 3-month average volume and 4 out of the 15-downside having higher than the 3-month average volume;
  • Friday’s percentage (%) of the 19 -upside were +0.17% (STML) to +11.86% (BCLI) while the 15-downside ranged from -0.06% (NTLA) to -6.18% (PGEN); 

 

Hammered in today’s market:

  • ReNeuron (RENE.L), Regenxbio (RGNX), Sage Therapeutics (SAGE), Homology Medicine (FIXX), Pluristem (PSTI) to name a few of the 15 slipping of the 35 covered

Jumping with momentum:

  • uniQure NV (QURE), bluebird bio (BLUE), CRISP Therapeutics (CRSP), Alnylam Pharmaceuticals (ALNY) and Global Blood Therapeutics (GBT) to name a few of the 19 trading up of 35 covered

 

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

  • Friday, the IBB closed down -0.74% and XBI also closed down -1.55%
  • Thursday, the IBB closed up +0.25% and XBI also closed down -1%
  • Wednesday, the IBB closed up +0.91% and XBI also closed up +0.03%
  • Tuesday the IBB closed down -1.90% and XBI also closed down -2.36%
  • Monday was a market holiday

 

Friday’s (bottom 10) incliners:

  • uniQure NV (QURE +$4.14 after Thursday’s -$2.57, Wednesday’s +$1.54, and Tuesday’s +$0.35);
  • bluebird bio (BLUE +$2.86 after Thursday’s -$0.86, Wednesday’s -$2.24 and Tuesday’s -$2.87);
  • CRISPR Therapeutics (CRSP +$2.27after Thursday’s -$1.62, Wednesday’s -$2.41 and Tuesday’s -$3.60);
  • Alnylam Pharmaceuticals (ALNY +$2.17);
  • Global Blood Therapeutics (GBT +$1.17 after Thursday’s -$1.86, Wednesday’s +$2.41 and Tuesday’s -$1.22);
  • Brainstorm Cell Therapeutics (BCLI +$0.79 after Thursday’s +$0.03);
  • Bellicum Pharmaceuticals (BLCM +$0.670;
  • AxoGen (AXGN +$0.52);
  • Cellectis SA (CLLS +$0.37 after Thursday’s -$0.77, Wednesday’s -$0.51 and Tuesday’s -$1.64);
  • Adverum Biotechnologies (ADVM +$0.31 after Thursday’s-$0.70 and Wednesday’s +$0.58);

Friday’s (bottom 10) decliners:

  • ReNeuron (RENE.L -$2.50 after Thursday’s -$2.50, Wednesday’s -$5.00 and Tuesday’s -$6.00);
  • Regenxbio (RGNX -$2.18 after Thursday’s -$2.62, Wednesday’s +$0.82 and Tuesday’s -$1.80);
  • Sage Therapeutics (SAGE -$1.66);
  • Homology Medicine (FIXX -$0.58 after Thursday’s +$0.02, Wednesday’s -$1.41 and Tuesday’s +$0.55);
  • Pluristem (PSTI -$0.28 after Thursday’s +$0.32);
  • Sangamo Therapeutics (SGMO -$0.25 after Thursday’s +$0.00 or +0.04% and Wednesday’s +$0.51);
  • Ionis Pharmaceuticals (IONS -$0.23 after Thursday’s +$0.32);
  • Editas Medicine (EDIT -$0.22);
  • BioLife Solutions (BLFS -$0.17 after Thursday’s +$0.44, Wednesday’s +$0.10 after Tuesday’s +$0.03);
  • Precision (PGEN -$0.145);

 

Percentage (%) movement/range statistics: look closely …

  • Friday’s percentage (%) of the 19-upside were +0.17% (STML) to +11.86% (BCLI) while the 15-downside ranged from -0.06% (NTLA) to -6.18% (PGEN); 
  • Thursday’s percentage (%) of the 8-upside were +0.04% (SGMO) to +2.72% (BLFS) while the 30-downside ranged from -0.19% (ALNY) to -8.42% (BSTG); 
  • Wednesday’s percentage (%) of the 20-upside were +0.14% (IONS) to +4.62% (SGMO) while the 15-downside ranged from -0.08% (STML) to -8.73% (FIXX);
  • Tuesday’s percentage (%) of the 10-upside were +0.19% (BLFS) to +17.34% (AXGN) while the 25-downside ranged from -0.30% (RARE) to -15.87% (CLBS);
  • Monday was a holiday;

 

Sentiment and a few daily indicators:

The indexes bounced today as … on the basis of President trumps news conference!

  • The market has had a massive run on optimism about economic reopening, with the S&P 500 bouncing about 38% off its March low. The benchmark is about 10% below its record high set in February.

The number of confirmed U.S. coronavirus cases: every day I get sadder as I post these numbers …

  • Friday 1.73 million
  • Thursday 1.69 million
  • Wednesday 1.68 million
  • Tuesday 1.66 million
  • Monday was not reported, a holiday but, not for the dying

Friday’s death rate escalated to a total of 102,201 after Thursday’s 100,442, Wednesday’s 99,264, Tuesday’s 98,426 and Monday was a holiday (not reported) <John Hopkins University>

 

Upside volume stats: 

  • Friday: 6 out of the 19-upside had higher than the 3-month average volume;
  • Thursday: 0 out of the 8-upside had higher than the 3-month average volume;
  • Wednesday: 4 out of the 20-upside had higher than the 3-month average volume;
  • Tuesday: 5 out of the 10-upside had higher than the 3-month average volume;
  • Monday: holiday

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Friday was down -1.08 points or -3.78% at 27.51;
  • Thursday was up +0.97 points or +3.51% at 28.59;
  • Wednesday was down -0.39 points or -1.390% at 27.62
  • Tuesday was down -0.15 points or -0.53% at 28.01,
  • Monday: markets were closed

Downside volume stats:

  • Friday: 4 out of the 15-downside had higher than the 3-month average volume;
  • Thursday: 4 out of the 30-downside had higher than the 3-month average volume;
  • Wednesday: 5 out of the 15-downside had higher than the 3-month average volume;
  • Tuesday: 12 out of the 25-downside had higher than the 3-month average volume;
  • Monday: holiday

Closing flat: 1 - Biostage (BSTG)

 

May

Friday closed positive with 15 decliners, 19 advancer and 1 flat

Thursday closed negative with 30 decliners, 8 advancer and 2 flats

Wednesday closed positive with 15 decliners, 20 advancer and 0 flats

Tuesday closed negative with 25 decliners, 10 advancer and 0 flats

Monday – market closed, holiday

Friday closed positive with 9 decliners, 26 advancer and 0 flats

Thursday closed positive with 13 decliners, 29 advancer and 3 flats

Wednesday closed positive with 4 decliners, 30 advancer and 1 flat

Tuesday closed negative with 23 decliners, 9 advancer and 3 flats

Monday (5/18) closed positive with 6 decliners, 29 advancer and - flat

Friday closed positive with 10 decliners, 24 advancer and 1 flat

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: Reiterating, “Hold China accountable!” …

There Are Chinese companies “hiding in plain sight” with NASDAQ listings, claiming PPP funds, trying to force employees to take pay cuts – so they quit, filed erroneous quarterly (10-Q) and year end (10.K) SEC filings. How also about filing erroneous regulatory filings having “forgot” financial involvements!

  • President Trump said federal authorities will be studying … accounting practices of Chinese firms!

Remember those who have NOT been paid and “other”!!

  • Many “things” will come back “to bite them” as whistle blowers have united!

On January 31, the Trump administration announced travel restrictions on people coming from China due to the outbreak.

  • There should be a ban on those leaving the U.S and returning, especially those from Wuhan, China!

To quote, “Targeting the Chinese directly, Trump said he will issue a proclamation to secure university research and to "suspend the entry of certain foreign nationals from China who we have identified as a potential security risk." Or will be considered …!!

 

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.