RegMed Investors’ (RMi) closing bell: sector open positive, slowly weakening as the session closed

June 29, 2020 7:29pm

US coronavirus statistics worsened over the weekend but traders ultimately washed-out the negativity

Pre-open indications 10 HITs and 5 MISS

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The Dow closed UP +580.25 points (+2.32%), the S&P closed UP + 44.19 points (+1.47%) while the NASDAQ closed UP +116.93 points (+1.20%)

Pre-open indication results: 10 HITs < Biostage (BSTG -$0.00), Applied Genetic Technologies (AGTC -$0.27), Brainstorm Cell Therapeutics (BCLI -$1.57), Intellia Therapeutics (NTLA -$0.09), Pluristem (PSTI -$0.30), Voyager Therapeutics (VYGR -$0.55), ReNeuron (RENE.L +$7.50), Adverum Biotechnologies (ADVM +$1.74), CRISPR Therapeutics (CRSP +$1.01), Editas Medicine (EDIT +$0.42), > and 5 MISS < bluebird bio (BLUE -$0.81), Mesoblast (MESO -$0.30), Verastem (VSTM -$0.04), Homology Medicine (FIXX -$0.56), uniQure NV (QURE -$0.75) >

Henry’omics:

Stocks rose sharply to start the week Monday …

The major averages hit their session highs just minutes ahead of the close. That late-day surge put the S&P 500 in positive territory for the month with one trading day left.

From today’s Data docket, “Markets scored a boost after a report showed that pending home sales in May spiked 44.3%, compared with April, according to the National Association of Realtors. That beat expectations of a 15% rise. Sales were still 5.1% lower compared against the same time last year.” <MarketWatch>

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

• Monday opened positive at 21/12 and 2 flats, flipped negative at the mid-day at 13/20 and 2 flats, closing negative at 10/23 and 2 flats;
• Friday opened negative at 13/19 and 3 flats, stayed negative at the mid-day at 5/27 and 3 flats, closing negative at 4/29 and 2 flats;

Key metrics:

• Sector volume was LOW with 5 out of the 10-upside having higher than the 3-month average volume and 4 out of the 23-downside having higher than the 3-month average volume;

• Monday’s percentage (%) of the 10-upside were +0.46% (SGMO) to +9.18% (ADVM) while the 23-downside ranged from -0.14% (SAGE) to -12.40% (BCLI); 

Hammered in today’s market:

• Alnylam Pharmaceuticals (ALNY), Ultragenyx Pharmaceuticals (RARE), Brainstorm Cell Therapeutics (BCLI), Fate Therapeutics (FATE) and Regenxbio (RGNX) to name a few the 23 tripping down of the 35 covered

Jumping with share pricing momentum:

• ReNeuron (RENE.L), Adverum Biotechnologies (ADVM), CRISPR Therapeutics (CRSP), Global Blood Therapeutics (GBT) and Vericel (VCEL) to name 5 of the 10 trading up of 35 covered

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

• Monday, the IBB closed down -0.36% and XBI also closed down -0.02%
• Friday, the IBB closed down -2% and XBI also closed down -3.28%

Monday’s (10 of 10) incliners:

• ReNeuron (RENE.L +$7.50);
• Adverum Biotechnologies (ADVM +$1.74 after Friday’s -$4.37, Thursday’s -$0.59 and Wednesday’s -$1.73);
• CRISPR Therapeutics (CRSP +$1.01 after Friday’s -$2.01, Thursday’s +$2.96, Wednesday’s -$2.28, Tuesday’s +$3.35 and last Monday’s +$2.94);
• Global Blood Therapeutics (GBT +0.94 after Friday’s +$0.13, Thursday’s +$0.85 and Wednesday’s -$2.75);
• Vericel (VCEL +$0.53);
• Editas Medicine (EDIT +$0.42 after Friday’s -$2.49);
• AxoGen (AXGN +$0.15);
• Aduro Biotech (ADRO +$0.06);
• Sangamo Therapeutics (SGMO +$0.04);
• Caladrius Biosciences (CLBS +$0.01);

Monday’s (bottom 10 of 23) decliners:

• Alnylam Pharmaceuticals (ALNY -$3.99 after Friday’s -$4.54 and Thursday’s +$4.68);
• Ultragenyx Pharmaceuticals (RARE -$2.92);
• Brainstorm Cell Therapeutics (BCLI -$1.57 after Friday’s +$0.94, Thursday’s +1.36);
• Fate Therapeutics (FATE -$1.20 after Friday’s -$1.42, Thursday’s +$2.13);
• Regenxbio (RGNX -$1.13);
• bluebird bio (BLUE -$0.81 after Friday’s -$1.45, Thursday’s -$1.27, Wednesday’s -$1.28 and Tuesday’s -$0.58);
• uniQure NV (QURE -$0.75 after Friday’s -$2.74, Thursday’s -$13.69, Wednesday’s -$4.83, Tuesday’s +$1.09 and last Monday’s -$0.13);
• Ionis Pharmaceuticals (IONS -$0.69 after Friday’s -$0.96, Thursday’s +$1.95, Wednesday’s +$1.28 and Tuesday’s -$1.52);
• Homology Medicine (FIXX -$0.56);
• Voyager Therapeutics (VYGR -$0.55 after Friday’s -$1.16);

Closing flat: 2 –Biostage (BSTG) and Stemline Therapeutics (STML – being acquired)

Percentage (%) movement/range statistics: look closely … notice percentage (%) movements are declining

• Monday’s percentage (%) of the 10-upside were +0.46% (SGMO) to +9.18% (ADVM) while the 23-downside ranged from -0.14% (SAGE) to -12.40% (BCLI); 
• 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); 

Sentiment and a few daily indicators:

Alarming COVID-19 ‘headlines’ over the weekend scared many investors

The number of confirmed U.S. coronavirus cases: every day I get sadder as I post these numbers … traders are taking solace in the fact that the acceleration in COVID-19 infection numbers is not yet leading to a marked rise in fatalities.

• Monday 2.54 million
• Friday 2.42 million

Monday’s death rate totaled 125,803 after Friday’s 124,468 after Thursday’s 121,979, Wednesday’s 121,662, Tuesday’s 120,402 and last Monday’s 120.440 <Johns Hopkins University>

Upside volume stats: 

• Monday: 5 out of the 10-upside had higher than the 3-month average volume;
• Friday: 3 out of the 4-upside had higher than the 3-month average volume;

The CBOE Volatility Index (VVIX: INDEX) tracked:

• Monday was down -2.95 points or -8.49% at 31.78;
• Friday was up +2.51 points or +7.79% at 34.73;

Downside volume stats:

• Monday: 4 out of the 23-downside had higher than the 3-month average volume;
• Friday: 15 out of the 29-downside had higher than the 3-month average volume;

June

Monday (6/29) closed negative with 10 advancers, 23 decliners and 2 flats

Friday closed negative with 4 advancers, 29 decliners and 2 flats

Thursday closed positive with 25 advancers, 8 decliners and 2 flats

Wednesday closed negative with 9 advancers, 24 decliners and 2 flats

Tuesday closed positive with 20 advancers, 11 decliners and 4 flats

Monday (6/22) closed positive with 24 advancers, 8 decliners and 3 flats

Friday closed positive with 18 advancers, 13 decliners and 4 flats

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

Wednesday closed negative with 13 advancers, 21 decliners and 1 flat

Tuesday closed positive with 23 advancers, 8 decliners and 4 flats

Monday (6/15) closed positive with 28 advancers, 5 decliners and 2 flats

Friday closed positive with 25 advancers, 8 decliners and 2 flats

Thursday closed negative with 2 advancers, 31 decliners and 2 flats

Wednesday closed negative with 15 advancers, 17 decliners and 3 flats

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

Monday (6/8) closed positive with 22 advancers, 9 decliners and 4 flats

Friday closed negative with 16 advancers, 19 decliners and 0 flat

Thursday closed negative with 5 advancers, 30 decliners and 0 flat

Wednesday closed negative with 9 advancers, 25 decliners and 1 flat

Tuesday closed positive with 21 advancers, 13 decliners and 1 flat

Monday (6/1) positive with 23 advancers,10 decliners and 2 flats

The Bottom line:  Again, and again, it’s a tug-of-war between sentiment and the virus.

Another, I told you so … SELL into strength every time you see and feel new highs!!

Referencing Biostage (BSTG), the Chairman Jason Chen of Beijing, China directed Henry (who had been acting as a consultant) to HOLD a WHISTLEBLOWER complaint against the VP of Finance after Burns& Levinson (B&L) - a law firm on multiple times (I have the copies) and CHANGED the wording of MULTIPLE contract revisions referencing the articulation of the harassment (as written and recorded) before the November 2019 board of director meeting at BSTG.

The Consultant (Henry) had acknowledged “that injury has been brought upon him as harassment, non-payment re follow-up of individuals and relationships brought to the company to assist in the IND filing, withholding of securities regulatory information re stock and warrant execution and that he has been made to suffer by various parties in the Company could be irreparable.

I actually had to show a personal check copy to get paid by the VP of Finance which was given to then CEO Jim McGorry to effect payment;

Copy of the harassment complaint had been issued/e-mailed to the Chairman who PERSONALLY acknowledged its receipt and B&L’s change of language of a WHISTLEBLOWERS complaint.

And one wonders WHY multiple forthcoming WISTLEBLOWER complaints are being filed about ... multiple egregious actions against Biostage (BSTG)!

And there is a heck of a lot more to illuminate the public U.S. shareholders.

Facts and copies are irrefutable …

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.