July 23, 2020 8:11am
As qualitative and quantitative measurements are imbalanced
Pre-open indications: 8 BUYs and 4 SELLs <more of the Biostage (BSTG) Chronicles>
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!
Dow futures are UP +0.35% (+94 points), S&P futures are UP +0.31% (+10 points) and NASDAQ futures are UP +0.67% (+73 points)
Futures contracts were slightly higher Thursday morning as investors awaited jobless claims, a key economic data,
European stocks were slightly higher in reaction to rising U.S.-China tensions and a slew of corporate earnings while the pan-European Stoxx 600 only climbed +0.5% in early trade,
Asia Pacific markets traded mixed on Thursday with Chinese mainland shares declining and South Korea reporting a decline in Q2’s GDP, largely due to a steep fall in exports. Markets in Japan are closed for a public holiday.
Data Docket: U.S. weekly jobless claims came in at 1.416 million for last week, marking the 18th straight week in which initial claims rose by more than 1 million. Economists expect another 1.3 million workers to have filed initial claims for state unemployment benefits.
Another day in the coal mine … let’s hope the canaries stay breathing.
The Dow is up +1.25%, the S&P +1.59% and the Nasdaq is up 1.9% for the week – so far.
Wednesday night’s post title - a recap: “exposure to the downside slide; two down sessions followed by two up sessions, a pattern or trend, check the July closing’s list”
- The NASDAQ closed UP +25.76 points (+0.24%);
- The IBB closed down -0.25% and XBI also closed down -0.48%
- Sector volume was LOW with 1 of the 12-upside having higher than the 3-month average volume and 2 out of the 22-downside having higher than the 3-month average volume;
- The CBOE Volatility Index (VVIX: INDEX) was down -0.52 points or -2.09% at 24.32;
- Wednesday’s percentage (%) of the xx-upside were +0.06% (CLLS) to +6.25% (OTC Pink sheets: MDXG) while the 9-downside ranged from -0.01% (GBT) to -6.67% (RENE.L);
Q3’s last five (5) sessions: pattern or trend?
- Wednesday closed negative with 12 advancers, 22 decliners and 1 flat
- Tuesday closed negative with 10 advancers, 24 decliners and 1 flat
- Monday (7/20) closed positive with 24 advancers, 10 decliners and 1 flat
- Friday closed positive with 24 advancers, 9 decliners and 2 flats
- Last Thursday closed negative with 7 advancers, 25 decliners and 3 flats
Companies in my headlights – It’s your decision; I provide an idea and context:
Biostage (BSTG) closed up +$0.07 after Tuesday’s $2.99, Monday’s $3.00 and Friday’s $2.90. BSTG’s +$0.07 SMELLS of STOCK Manipulation after a -$0.34 decline just before the market closed following Tuesday’s -$0.35 to suddenly close following buying trades reducing the negative pricing – an existing pattern on MULTIPLE OCCASIONS that has been going on for MONTHS AND MONTHS which I serious perceive as manipulating share pricing.
BSTG’s last private round’s pricing at $3.70 has a warrant attached that is the basis of forward and continued funding which has to be supported by a public share pricing - what better a reason?
- Does Mrs. Bin Zhou (Weston, Mass) as HEAD of DST Capital and being BSTG’s major shareholder AWARE (?) of these buying patterns. Shouldn’t she be reviewed and held accountable by public shareholders and regulatory agencies? Mrs. Bin Zhou and Jason Chen, BSTG’s board’s chairman were informed in many e-mails and individual face-to-face meetings by ME re on-going material events (until May 2020) yet ultimately; Mrs. Bin Zhou has condoned the continuing ethical issues within the company.
- The Chairman, Jason Chen <oversees the self-inflicted wounds from Beijing, China> and also works for Mrs. Bin Zhou’s husband also in China and the BSTG president is her neighbor in Weston, Mass.
- So, where is the OVERSIGHT; SEC and Mass enforcement regulatory agencies need to investigate these recent and past moves! Questions need answers … what exists are serious questions of transparency and ethics.
SELL into Strength:
Adverum Biotechnologies (ADVM) closed up +$0.60 to $17.38 after Tuesday’s +$16.78 and Monday’s $17.38 with a 52-week high of $21.18 and low of $7.37. chart looks “peaky” and has a negative -$0.26 or -1.50% aftermarket indication;
Sage Therapeutics (SAGE) closed up +$1.61 to $47.35 after Tuesday’s $45.74 and Monday’s $44.87 but, has a negative -$0.85 or -1.79% aftermarket indication;
bluebird bio (BLUE) -$0.61 to $65.33 after Tuesday’s -$1.61 and Monday’s +$1.31 and has a negative -$0.33 or -0.515 aftermarket indication;
AxoGen (AXGN) closed up +$0.20 to $12.28 after Tuesday’s (+$0.11) $12.08 and Monday’s (-$0.11) $11.89 and has a positive +$0.32 or +2.61% aftermarket indication. AXGN announces earnings on August 5th, P3 pivotal RECONSM clinical study supporting its Biologics License Application (BLA) submission for Avance Nerve Graft has reached its enrollment target of 220 subjects. RECON compares Avance Nerve Graft to manufactured conduits in digital nerve injuries with a primary endpoint of return of sensation and secondary endpoints for quality of life and patient satisfaction;
Brainstorm Cell Therapeutics (BCLI) closed up +$0.21 after Tuesday’s +$0.07 and Monday’s +$0.89) and has a positive +$0.93 or +5.90% pre-market indication on news of completing its first milestone in developing an innovative exosome-based platform-technology for the treatment severe COVID-19 infection.COVID-19 induced pneumonia carries a high fatality rate and has been associated with acute respiratory distress syndrome (ARDS). Currently, there is no effective treatment strategy to prevent or reverse ARDS, a type of respiratory failure associated with widespread inflammation and lung damage mediated by dysregulated cytokine production.
Homology Medicine (FIXX) closed down -$0.44 to $16.04 after Tuesday’s $16.48 and Monday’s $16.47 and Friday’s $15.24 but, has a positive +$0.81 or +5.05% aftermarket indication;
CRISPR Therapeutics (CRSP) closed down -$0.58 to $92.97 after Tuesday’s -$1.75 and Monday’s +$2.95. CRSP has a positive +$0.33 or +0.35% aftermarket indication;
Intellia Therapeutics (NTLA) closed down -$0.71 to $20.25 after Tuesday’s $20.96 and Monday’s $22.23 and has a positive +$0.24 or +1.19% aftermarket indication;
Editas Medicine (EDIT) closed down -$0.12 to $30.20 after Tuesday’s $30.32 and Monday’s $32.56 and Friday’s $32.23 but, has a positive +$0.11 or +0.36% aftermarket indication;
Ionis Pharmaceuticals (IONS) closed down -$0.38 to $60.67 after Tuesday’s $61.05 and Monday’s $62.07 and has a positive +$0.20 or +0.33% aftermarket indication;
Pluristem (PSTI) closed up +$0.29 to $9.17 after Tuesday’s -$0.57 after Monday’s up +$0.65 and has a positive +$0.22 or +2.40% pre-market indication after the CEO Yaky Yanay issues shareholder update on clinical programs … https://finance.yahoo.com/news/pluristem-ceo-issues-shareholder-clinical-111010726.html
The BOTTOM LINE: From the title, fundamentals provide a method to set the value of a company and its equity although lately, macroeconomic and microeconomic “matters” affect share pricing as electronic algorithmic trading “infect” the economy at large.
However, I focus on indications as these markets threaten our universe’s share pricing. Indications refer to something less than certainty; an “indication” could be a sign a symptom, a suggestion, or grounds for inferring or a basis of believing.
An indication can also be a development of almost any kind. Specifically, it may be a confirmed fact, a possible fact, an absence of something, a fragment of information or an observation as I review after and pre-market indications.
The sole provision is that it provides is some insight.
Thus, expectation and actuality need to be adequately supported and then considered!
Q2 sector results should start appearing in the first week of August … AxoGen (AXGN) and Ionis Pharmaceuticals IONS on 8/5, Athersys (ATHX), Vericel (VCEL), Ionis Pharmaceuticals (IONS) and Sage Therapeutics (SAGE) on 8/10.
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.