June 30, 2020 5:28pm

Some stocks are jumping as the session closed realizing the oversold conditions

Pre-open indications 4 HITs and 3 MISS

News: Ultragenyx Pharmaceutical (RARE) the FDA has approved Dojolvi™ (triheptanoin) as a source of calories and fatty acids for the treatment of pediatric and adult patients with molecularly confirmed long-chain fatty acid oxidation disorders (LC-FAOD). LC-FAOD are a group of rare, lifelong and life-threatening genetic disorders in which the body is unable to convert long-chain fatty acids into energy. RARE jumped +$4.56 or +6.19% to $78.22.

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The Dow closed UP +217.08 points (+0.85%), the S&P closed UP +47.05 points (+1.54%) while the NASDAQ closed UP +184.61 points (+1.87%)

 

Pre-open indication results: 4 HITS < Mesoblast (MESO +$0.48), Biostage (BSTG -$0.00), ReNeuron (RENE.L +$0.00), CRISPR Therapeutics (CRSP -$1.56), > and 3 MISS < uniQure NV (QURE -$0.67), Regenxbio (RGNX -$0.13) Editas Medicine (EDIT +$0.24)>

 

Henry’omics:

Equities rose after intermittently and sporadic moves on Tuesday as markets wrapped up its best quarterly performance in decades.

The Dow was on pace for its biggest one-quarter gain since 1987, surging 18%. The S&P 500 headed for its best quarterly performance since 1998, climbing 20.3%. The Nasdaq was up 30.9% quarter to date and was headed for its biggest quarterly gain since 2001.

It’s still a question of support for the summer doldrums.

Government relief and support the recovery can only last so long!

 

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

  • Tuesday opened neutral at 16/16 and 3 flats, flipped negative at the mid-day at 15/17 and 3 flats, closing positive at 21/11 and 3 flats;
  • 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 6 out of the 21-upside having higher than the 3-month average volume and 4 out of the 11-downside having higher than the 3-month average volume;
  • Tuesday’s percentage (%) of the 21-upside were +0.14% (ALNY) to +6.86% (BLFS) while the 11-downside ranged from -0.35% (RGNX) to -6.42% (AGTC);

 

Hammered in today’s market:

  • Global Blood Therapeutics (GBT), CRISPR Therapeutics (CRSP), uniQure NV (QURE), Ionis Pharmaceuticals (IONS) and Applied Genetic Technologies (AGTC) to name 5 of the11 declining of the 35 covered

Jumping with share pricing momentum:

  • Ultragenyx Pharmaceuticals (RARE), Fate Therapeutics (FATE), BioLife Solutions (BLFS), bluebird bio (BLUE) and Intellia therapeutics (NTLA) to name 5 of the 21 trading up of 35 covered

 

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

  • Tuesday, the IBB closed up +1.49% and XBI also closed up +1.40%
  • 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%

 

Tuesday’s (10 of 21) incliners:

  • Ultragenyx Pharmaceuticals (RARE +$4.56 after Monday’s -$2.92);
  • Fate Therapeutics (FATE +$1.70 after Monday’s -$1.20 and Friday’s -$1.42);
  • BioLife Solutions (BLFS +$1.05);
  • bluebird bio (BLUE +$0.95 after Monday’s -$0.81 and Friday’s -$1.45);
  • Intellia Therapeutics (NTLA +$0.60);
  • Mesoblast (MESO +$0.48);
  • Voyager Therapeutics (VYGR +$0.41 after Monday’s -$0.55 and Friday’s -$1.16);
  • Pluristem (PSTI +$0.34);
  • Vericel (VCEL +$0.26 after Monday’s +$0.53);
  • Editas Medicine (EDIT +$0.24 after Monday’s +$0.42 and Friday’s -$2.49);

Tuesday’s (bottom 10 of 11) decliners:

  • Global Blood Therapeutics (GBT -$3.37 after Monday’s +0.94 after Friday’s +$0.13);
  • CRISPR Therapeutics (CRSP -$1.56 after Monday’s +$1.01 after Friday’s -$2.01);
  • uniQure NV (QURE -$0.67 after Monday’s -$0.75 and Friday’s -$2.74),
  • Ionis Pharmaceuticals (IONS -$0.44 after Monday’s -$0.69 and Friday’s -$0.96);
  • Applied Genetic Technologies (AGTC -$0.38);
  • Sage Therapeutics (SAGE -$0.19);
  • Solid Biosciences (SLDB -$0.18);
  • Cellectis SA (CLLS -$0.14);
  • Regenxbio (RGNX -$0.13 after Monday’s -$1.13);
  • Bellicum Pharmaceuticals (BLCM -$0.11);

Closing flat: 3 –Biostage (BSTG), ReNeuron (RENE.L) and Stemline Therapeutics (STML – being acquired)

 

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

  • Tuesday’s percentage (%) of the 21-upside were +0.14% (ALNY) to +6.86% (BLFS) while the 11-downside ranged from -0.35% (RGNX) to -6.42% (AGTC); 
  • 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:

Rallies and uncertainties reflect the capricious nature of markets ... 

  • Tuesday 2.68 million
  • Monday 2.54 million
  • Last Friday 2.42 million

Tuesday’s death rate totaled 129.545 after Monday’s 125,803 after Friday’s 124,468, Thursday’s 121,979, Wednesday’s 121,662 and last Tuesday’s 120,402 <Johns Hopkins University>

 

Upside volume stats: 

  • Tuesday: 6 out of the 21-upside had higher than the 3-month average volume;
  • 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:

  • Tuesday was down – 1.35 points or -4.25% at 30.43;
  • 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:

  • Tuesday: 4 out of the 11-downside had higher than the 3-month average volume;
  • 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 - what a month

Tuesday closed positive with 21 advancers, 11 decliners and 3 flats

Monday (6/29) closed positive 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:  The RegMed, cell and gene therapy sector are wrapping -up Q2 today and it was one for the history books as equities decline and recovered from the coronavirus-induced sell-off.

Gains and declines are driven by trading sometimes betting the worst of the coronavirus pandemic is over, and then headlines appear to introduce more fear into market yet, “our” universe is just a victim of uncertainty as many define risk on potential treatments and vaccines. We, the RegMed, cell and gene therapy are treating the disease states of other mortalities.

I am the first one to say profit from the inclines and declines of market forces but, never would or should we sell totally “our” positions in these equities but, build “powder” for the future reversals!

Facts are irrefutable … there is always a comeback story to appreciate “our” universe on other disease states!

 

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.