June 29, 2020 8:06am

Remember, the Phoenix regenerates and rises from the ashes of its predecessor (maybe not today but, be ready) and wear a mask to enjoy the “dance” of reversal returns

Pre-open indications: 9 BUYs and 6 SELLs

What I provide is an intelligence daily. Where are the canaries in the sector coal mine, am I the only one?  Subscription is coming, it’s not conscription but, an offer to join our collective of like-minded investors who make money and for those who read and don’t weep!

Can you afford NOT to read it? Check the Bottom line …

Dow futures are UP +0.86% (+214 points), S&P futures are UP +0.54% (+17 points) and NASDAQ futures are UP +0.12% (+12 points)

 

U.S. stock futures rose on Monday even as U.S. coronavirus cases continued to surge;

European stocks fluctuated along with the rising coronavirus death toll as the pan-European Stoxx 600 hovered at the flatline by mid-morning;

Asia Pacific shares fell as the number of coronavirus cases globally continues to rise with the MSCI Asia ex-Japan index declining- 0.93%.

 

Data docket: The holiday-shortened week ahead brings pending home sales Monday and …

  • S&P/Case-Shiller home prices Tuesday.
  • Fed Chair Powell and Treasury Secretary Mnuchin testify before the House Financial Services Committee on Tuesday.
  • The ADP’s latest private sector jobs report is out Wednesday.
  • Thursday, the government reports its June employment report.
  • Markets are closed Friday, July 3, in observance of Independence Day.

 

Henry’omics:

Hopefully we can cruise to month’s end and quarter’s close without markets being infected with declining syndrome!

  • The Dow, with two days left in June, could break its two-month winning streak. However, the benchmark, as of Friday’s close, was up just over 14% for Q2, so far.

On Saturday, “Florida reported a one-day record of cases of 9,636. The state reported an additional 8,577 on Sunday. Those figures were released after Florida once again banned drinking at bars on Friday. Texas — another state that has seen record spikes in coronavirus infections — rolled back on Friday some of its reopening measures. Arizona Gov. Doug Ducey said Friday cases in the state are “growing fast across all age groups and demographics.” <CNBC>

‘Last week, the Dow was down -3.3% and S&P 500 index -2.9% and the Nasdaq -1.9%. On Friday alone, the Nasdaq dropped -2.4%

 

Friday’s night post’s title: “the cell and gene therapy sector got sacked”

  • The NASDAQ closed DOWN -259.78 points (-2.59%);
  • The IBB closed down -2% and XBI also closed down -3.28%;
  • Friday opened negative and closed negative;
  • Sector volume INCREASED with 3 out of the 4-upside having higher than the 3-month average volume and 15 out of the 29-downside having higher than the 3-month average volume;
  • Friday’s percentage (%) of the 4-upside were +0.35% (ATHX) to +8.02% (BCLI) while the 29-downside ranged from -0.40% (BSTG) to -18.74% (ADVM);   

Q2:

  • June registered 11 positive and 9 negative closes
  • May registered 9 negative, 11 positive closes and 1 holiday.
  • April registered 10 negative, 11 positive closes and 1 holiday.

Q1:

  • March registered 11 negative, 10 positive closes and 1 neutral close.
  • February registered 9 negative, 9 positive closes, 3 vacation days and 1 holiday.
  • January registered 9 negative, 10 positive closes and 2 holidays.

 

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

Maintaining SELL:

Biostage (BSTG) closed down -$0.01 to $2.51 after Thursday’s -$0.29 after Wednesday’s +$0.29 to $2.79 and has more issues that will affect the stock which only moves with day trading as approximately 92% of the millions of private shares just added 3 million to managements personal pockets i.e. “employee benefit plan security offering” – RUN. By the BYE, how many executives and employees; are left – 6 and 1 consultant? Let’s not forget a desperate need for financing?

 

Sell into strength:

Brainstorm Cell Therapeutics (BCLI) closed up +$0.94 after Thursday’s +$1.36 to $11.72 flies high and the dips;

 

Sell:

Applied Genetic Technologies (AGTC) closed down -$0.71 to $6.19 and has a negative -$0.29 or -4.68% aftermarket indication;

Intellia Therapeutics (NTLA) closed down -$0.98 to $20.51 and has a negative -$0.30 or -1.46% aftermarket indication;

Pluristem (PSTI) closed down -$0.31 to $8.80 and has a negative -$0.20 or -2.27% aftermarket indication;

Voyager Therapeutics (VYGR) closed down -$1.16 to $12.16 and has a negative -$0.34 or -$2.66% aftermarket indication;

 

Maintaining BUY

uniQure NV (QURE) closed down -$2.74 after Thursday’s -$13.69 to $49.22 on I thought a CSL Behring licensing deal of cash ($450 million) upfront and royalty stream (potential $2 billion) and has a positive +$0.40 or +0.81%. QURE will still be responsible for taking the therapy through a P3 trial. Since the start of the year, QURE's stock has declined 12.2%, shares of CSL have gained 4.6%, and the S&P 500 is down 5.6%.

ReNeuron (RENE.L) closed flat at on Friday after Thursday’s +$4.00 to $136.50 and Wednesday’s 132.50 following Wednesday’s news of a new research evaluation agreement with a major U.S. biotechnology company in connection with the use of RENE.L's proprietary exosomes for the delivery of novel gene silencing therapeutics. RENE.L reflects a pre-market indication or +$3.50 or +2.23%

 

BUY after Friday's downward spiral:

Adverum Biotechnologies (ADVM) closed down -$4.37 to $18.97 after Thursday’s -$0.59 to $23.32 and has a Friday’s +$0.30 or +0.58% aftermarket indication;

bluebird bio (BLUE) closed down -$1.45 to $60.96 and has a positive +$0.30 or +0.49% after Friday’s aftermarket indication;

CRISPR Therapeutics (CRSPP closed down -$2.01 to $74.04 and has a positive +$0.5 or +0.76% after Friday’s aftermarket indication;

Editas Medicine (EDIT) closed down -$2.49 to 428.92 and has a positive +$0.15 or +0.52% aftermarket indication;

Homology Medicine (FIXX) closed down -$0.73 to $15.57 and has a positive +$0.22 or +1.41% aftermarket indication;

Mesoblast (MESO) closed down -$0.35 to $11.21 and has a positive +$0.04 or +0.36% aftermarket indication;

Verastem (VSTM) closed down -$0.15 to $1.74 and has a positive +$0.04 or +2.3% aftermarket indication – VSTM deserves more than a nod;

 

 

The BOTTOM LINE: Last week, the IBB was down two sessions (-3.62%) and up three (+1.69%) for an aggregate of -1.93% with the XBI also down two (-4.43%) and up three (+6.95%) for an aggregate of +2.52%

From the title, what does a Phoenix symbolize? It represents transformation, death, and rebirth in its fire. As a powerful spiritual totem, the phoenix is the ultimate symbol of strength and renewal.

Also, the Phoenix “dies” in setting each night only to be reborn in rising the next morning.

Let’s hope for the new session …

On final remark on Biostage (BSTG) , “NEVER pick a fight with people who buys ink by the barrel” by Mark Twain or was it, Charles Bronson or maybe Roger Branigin, active for years in Democratic politics and an aspirant for the nomination for Indiana governor in 1955, who said in referring to newspaper publishers, “I never argue with a man who buys ink by the barrel.”

Another mood quote, “If a man has not discovered something that he will die for, he isn't fit to live”. Martin Luther King, Jr.

 

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.