July 29, 2020 7:03pm
Pre-open indications: 2 HITs and 3 MISS
An “intelligence newspaper” for smart investing in the RegMed, gene and cell therapy sector. Who is feeding your portfolio – profit from RMi’s analysis! Check the BOTTOM LINE … the facts are irrefutable and truth will keep your portfolio profitable
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The Dow closed UP +160.29 points (+0.61%), the S&P closed UP +40 points (+1.24%) while the NASDAQ closed UP +140.85 points (+1.35%)
Pre-open indication results: 2 HITs <Biostage (BSTG -$0.01), Brainstorm Cell Therapeutics (BCLI -$1.04) and 3 MISS <CRISPR Therapeutics (CRSP -$0.87), Editas Medicine (EDIT -$0.16), Sangamo Therapeutics (SGMO -$0.13)>
Henry’omics:
Indexes rose on Wednesday as tech shares led the way and the Fed kept interest rates unchanged ... as expected.
- In a statement, the Fed’s policymaking committee said U.S. economic activity and employment “have picked up somewhat in recent months but remain well below their levels at the beginning of the year.” The committee added that “weaker demand and significantly lower oil prices are holding down consumer price inflation. Overall financial conditions have improved in recent months, in part reflecting policy measures to support the economy and the flow of credit to U.S. households and businesses.” <CNBC>
This a.m.’s newsletter, RegMed Investors’ (RMi) pre-open: defining the “grey’ in my covered universe as I characterize the mitigating factors of share pricing … https://www.regmedinvestors.com/articles/11477
From the Data Docket, “In U.S. economic data, the trade deficit in goods dropped to $70.6 billion in June, a 6.1% decline in June from the previous month. The index of pending home sales soared 16.6% last month, helped by low borrowing rates, as compared with May, the National Association of Realtors reported Wednesday.”
RegMed/Cell and Gene therapy 35 covered equities’ Advance/Decline (A/D) lines: progressions and regressions …
- Wednesday opened negative at 12/21 and 2 flats, stayed negative at the mid-day at 9/24 and 2 flats, closing negative at 9/25 and 2 flats;
- Tuesday opened negative at 5/28 and 2 flats, stayed negative at the mid-day at 8/25 and 2 flats, closing negative at 6/27 and 2 flats;
- Monday opened positive at 25/7 and 3 flats, stayed positive at the mid-day at 21/12 and 2 flats, closing positive at 22/11 and 2 flats;
Key metrics:
- Sector volume was LOW with 2 of the 9-upside having higher than the 3-month average volume and 6 out of the 25-downside having higher than the 3-month average volume;
- Wednesday’s percentage (%) of the 9-upside were +0.57% (MESO) to +5.88% (PSTI) while the 25-downside ranged from -0.13% (SAGE) to -8.80% (FIXX);
Hammered in today’s market:
- Alnylam Pharmaceuticals (ALNY), bluebird bio (BLUE), ReNeuron (RENE.L), Global Blood Therapeutics (GBT), uniQure NV (QURE) to name 5 of the 25 declining of the 35 covered
Jumping with share pricing momentum:
- Pluristem (PSTI), BioLife Solutions (BLFS), Vericel (VCEL), Adverum Biotechnologies (ADVM), Mesoblast (MESO) to name 5 of the 9 trading up of 35 covered
The iShares NASDAQ Biotechnology (IBB) and the SPDR S&P ETF (XBI) indicators:
- Wednesday, the IBB closed down -1.11% and XBI also closed down -1.62%
- Tuesday, the IBB closed down -1.35% and XBI also closed down -2.55%
- Monday, the IBB closed up +2.67% and XBI also closed up +2.59%
Wednesday’s (9 of 9) incliners:
- Pluristem (PSTI +$0.50 after Tuesday’s +$0.04 and Monday’s -$0.09);
- Vericel (VCEL +$0.48);
- BioLife Solutions (BLFS +$0.37);
- Adverum Biotechnologies (ADVM +$0.20 after Tuesday’s -$0.99);
- Precigen (PGEN +$0.16);
- AxoGen (AXGN +$0.09);
- Mesoblast (MESO +$0.070;
- Solid Biosciences (SLDB +$0.06);
- Bellicum Pharmaceuticals (BLCM +$0.04);
Wednesday’s (10 of 25) decliners:
- Alnylam Pharmaceuticals (ALNY -$3.77 after Tuesday’s -$3.18 and Monday’s +$4.41);
- bluebird bio (BLUE -$3.42);
- ReNeuron (RENE.L -$2.50 after Tuesday’s +$5.00 and Monday’s -$9.00);
- Global Blood Therapeutics (GBT -$2.49, Tuesday’s +$9.22 and Monday’s -$1.00);
- uniQure NV (QURE -$1.81 after Tuesday’s -$1.48 and Monday’s +$1.54);
- Homology Medicine (FIXX -$1.34 after Tuesday’s +$0.19);
- Brainstorm Cell Therapeutics (BCLI -$1.04);
- CRISPR Therapeutics (CRSP -$0.87 after Tuesday’s -$5.72 and Monday’s +$1.77)
- Intellia Therapeutics (NTLA -$0.70);
- Ionis Pharmaceuticals (IONS -$0.63);
Closing flat: 1 - Stemline Therapeutics (STML – acquired)
Percentage (%) movement/range statistics: look closely … notice percentage (%) movements are declining
- Wednesday’s percentage (%) of the 9-upside were +0.57% (MESO) to +5.88% (PSTI) while the 25-downside ranged from -0.13% (SAGE) to -8.80% (FIXX);
- Tuesday’s percentage (%) of the 6-upside were +0.31% (GBT) to +4.44% (RENE.L) while the 27-downside ranged from -0.32% (BLUE) to -9.64% (SGMO);
- Monday’s percentage (%) of the 22-upside were +1.64% (RGNX) to +10.01% (MESO) while the 11-downside ranged from -0.58% (BCLI) to -10.53% (SLDB);
Sentiment and a few daily indicators:
Wrangling over coronavirus aid and a flood of earnings weighted sentiment along with the anti-trust panel and the Fed’s policy seems to keep the virus from many eyes …
- Wednesday 4.36 cases
- Tuesday 4.3 million cases
- Monday 4.26 million cases
Wednesday’s death rate totaled 149,375 after Tuesday’s 148,298 after Monday’s 147,143 <Johns Hopkins University>
Upside volume stats:
- Wednesday: 2 out of the 9-upside had higher than the 3-month average volume;
- Tuesday: 2 out of the 6-upside had higher than the 3-month average volume;
- Monday: 3 out of the 22-upside had higher than the 3-month average volume;
The CBOE Volatility Index (VVIX: INDEX) tracked:
- Wednesday was down -1.34 points or -5.27% at 24.10
- Tuesday was up +0.86 points or +3.48% at 25.59
- Monday was down -1.10 points or -4.26% at 24.74
Downside volume stats:
- Wednesday: 6 out of the 25-downside had higher than the 3-month average volume;
- Tuesday: 5 out of the 27-downside had higher than the 3-month average volume;
- Monday: 3 out of the 11-downside had higher than the 3-month average volume;
July
Wednesday closed negative with 9 advancers, 25 decliners and 1 flat
Tuesday closed negative with 6 advancers, 27 decliners and 2 flats
Monday (7/27) closed positive with 22 advancers, 11 decliners and 2 flats
Friday closed negative with 7 advancers, 27 decliners and 1 flat
Thursday closed negative with 4 advancers, 29 decliners and 2 flats
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
Thursday closed negative with 7 advancers, 25 decliners and 3 flats
Wednesday closed positive with 30 advancers, 4 decliners and 1 flat
Tuesday closed positive with 25 advancers, 8 decliners and 2 flats
Monday (7/13) closed negative with 4 advancers, 29 decliners and 2 flats
Friday closed negative with 9 advancers, 22 decliners and 4 flats
Thursday closed negative with 10 advancers, 24 decliners and 1 flat
Wednesday closed positive with 28 advancers, 5 decliners and 2 flats
Tuesday closed positive with 18 advancers, 12 decliners and 5 flats
Monday (7/6) 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: The sector is what it is, until it isn’t and even then, it doesn’t seem to be … when you point one finger, there are three fingers pointing back at you!
Reiterating, “volatility sketches a contradictory picture of the short-term. When you’re on a roller coaster, the only thing you can be sure of is you’ll end up back where you started.”
Same theme, different session: Skim if you can trim, buy if it will fly and sell if compelled!
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.
