July 7, 2020 7:13pm

Pre-open indications: 4 HITs and 1 MISS

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The Dow closed DOWN -396.85 points (-1.51%), the S&P closed DOWN -34.40 points (-1.08%) while the NASDAQ closed DOWN -89.76 points (-0.86%)

 

Pre-open indication results: 4 HITs < Biostage (BSTG -$0.09), Cellectis SA (CLLS -$2.73), Regenxbio (RGNX +$1.50), bluebird bio (BLUE +$6.19) > and 1 MISS < CRISPR Therapeutics (CRSP +$7.30)>

 

Henry’omics:

Indexes fell on Tuesday as a rally lost steam as concerns about the coronavirus outbreak dampened investor sentiment.

  • The Nasdaq and S&P 500 snapped five-day winning streaks; while the Dow posted its first decline in three sessions.

 

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

  • Tuesday opened positive at 16/15 and 4 flats, stayed positive at the mid-day at 23/9 and 3 flats, closing positive at 18/12 and 5 flats;
  • Monday opened positive at 21/11 and 3 flats, stayed positive at the mid-day at 22/12 and 1 flat, closing positive at 19/15 and 1 flats;

 

Key metrics:

  • Sector volume was LOW with 7 of the 18-upside having higher than the 3-month average volume and 2 out of the 12-downside having higher than the 3-month average volume;
  • Tuesday’s percentage (%) of the 20-upside were +0.03% (GBT) to +10.93% (BLUE) while the 12-downside ranged from -0.33% (BLFS) to -15.83% (CLLS); 

 

Hammered in today’s market:

  • Cellectis SA (CLLS), AxoGen (AXGN), Mesoblast (MESO), Pluristem (PSTI) and Applied Genetic Technologies (AGTC) to name 5 of the 9 declining of the 35 covered

Jumping with share pricing momentum:

  • Alnylam Pharmaceuticals (ALNY), CRISPR Therapeutics (CRSP), bluebird bio (BLUE), Intellia Therapeutics (NTLA) to name 5 of the 23 trading up of 35 covered

 

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

  • Tuesday, the IBB closed up +0.44% and XBI also closed up +1.88%
  • Monday, the IBB closed up +0.65% and XBI also closed up +0.03%

 

Tuesday’s (10 of 18) incliners:

  • Alnylam Pharmaceuticals (ALNY +$7.57 after Monday’s +$2.56 and Thursday’s +$1.10);
  • CRISPR Therapeutics (CRSP +$7.30 after Monday’s +$4.41 and Thursday’s +$1.20);
  • bluebird bio (BLUE-+$6.19 after Monday’s $1.42 and Thursday’s -$1.52);
  • Intellia Therapeutics (NTLA +$1.54 after Monday’s +$0.19);
  • Regenxbio (RGNX +$1.50 after Monday’s -$1.89 and Thursday’s -$0.65);
  • Editas Medicine (EDIT +$1.49);
  • Homology Medicine (FIXX +$1.23);
  • Ultragenyx Pharmaceuticals (RARE +$1.13 after Monday’s +$0.71 and Thursday’s +$1.39);
  • uniQure NV (QURE +$0.93 after Monday’s -$0.73 and Thursday’s -$1.52),
  • Fate Therapeutics (FATE +$0.72 after Monday’s +$0.59);

Tuesday’s (bottom 10 of 12) decliners:

  • Cellectis SA (CLLS -$2.73 after Monday’s +$0.40 and Thursday’s +$0.59);
  • Global Blood Therapeutics (GBT -$0.64 after Monday’s -$0.29 and Thursday’s -$2.61);
  • BioLife Solutions (BLFS -$0.50);
  • AxoGen (AXGN -$0.42);
  • Mesoblast (MESO -$0.40 after Monday’s +$1.10 and Thursday’s +$0.46);
  • Pluristem (PSTI -$0.28);
  • Applied Genetic Technologies (AGTC -$0.28 after Monday’s -$0.52 and Thursday’s +$0.60);
  • Vericel (VCEL -$0.12 after Monday’s -$0.31);
  • Verastem (VSTM -$0.11);
  • Biostage (BSTG -$0.09);

Closing flat: 5 – MiMedx (OTC Pink sheets: MDXG), ReNeuron (RENE.L), Sage therapeutics (SAGE), Solid biosciences (SLDB) and Stemline Therapeutics (STML – being acquired)

 

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

  • Tuesday’s percentage (%) of the 18-upside were +0.03% (GBT) to +10.93% (BLUE) while the 12-downside ranged from -0.33% (BLFS) to -15.83% (CLLS); 
  • Monday’s percentage (%) of the 19-upside were +0.13% (FIXX) to +9.14% (MESO) while the 15-downside ranged from -0.02% (IONS) to -8.09% (AGTC); 

 

Sentiment and a few daily indicators - cases:

The U.S. economic recovery will be “bumpier” as coronavirus cases continue to rise.

  • Tuesday 2.93 million cases
  • Monday 2.89 million cases

Tuesday’s death rate totaled 130,306 after Monday’s 130,007 <Johns Hopkins University>

 

Upside volume stats: 

  • Tuesday: 7 out of the 18-upside had higher than the 3-month average volume;
  • Monday: 4 out of the 19-upside had higher than the 3-month average volume;

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Tuesday was up +1.49 points or +5.33% at 29.43;
  • Monday was up +0.26 points or +0.94% at 27.94;

Downside volume stats:

  • Tuesday: x out of the 12-downside had higher than the 3-month average volume;
  • Monday: 3 out of the 15-downside had higher than the 3-month average volume;

 

July

Tuesday closed positive with 18 advancers, 12 decliners and 5 flats

Monday closed positive with 19 advancers, 15 decliners and 1 flat

Friday was a market holiday;

Thursday closed positive with 18 advancers, 14 decliners and 3 flats

Wednesday (7/1) closed positive with 24 advancers, 7 decliners and 4 flats

 

The Bottom line:  Uncertainty evolves, we are lucky the RegMed/cell and gene therapy sector closed up but, it slowly sank from the open.

 

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.