August 10, 2020 7:35pm

Pre-open indication results: 1 HIT and 1 MISS

Earnings: Verastem (VSTM), Adverum Biotechnologies (ADVM), Homology Medicine (FIXX), Precigen (PGEN), Sage Therapeutics (SAGE) and Athersys (ATHX)

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The Dow closed UP +359.40 points (+1.31%), the S&P closed UP +9.24 points (+0.28%) while the NASDAQ closed DOWN -42.63 points (-0.39%)

 

Pre-open indication results: 1 HIT <Pluristem (PSTI +$0.03) and 1 MISS < Biostage (BSTG +$0.19),

 

Henry’omics:

The Dow rallied; the S&P climbed while the Nasdaq declined struggling on Monday as gains in economically sensitive stocks offset losses from mega-cap tech stocks.

  • Monday’s session was the S&P 500′s seventh straight day of gains. The advance left the S&P 500 less than 1% away from a record high.

Last week, the Dow rose 3.8% for its biggest weekly gain since June. The S&P 500 climbed 2.5% along with the Nasdaq.

This a.m. I stated in this a.m.’s newsletter – RegMed Investors’ (RMi) pre-open: RegMed Investors’ (RMi) pre-open: pancake flat … https://www.regmedinvestors.com/articles/11493  

 

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

  • Monday opened positive at 24/10 and 1 flat, stayed positive at the mid-day at 25/9 and 1 flat, closing positive at 25/8 and 2 flats;
  • Friday opened positive at 17/15 and 3 flats, stayed positive at the mid-day at 28/4 and 3 flats, closing positive at 21/11 and 3 flats;

 

Key metrics:

  • Sector volume was LOW with 3 of the 25-upside having higher than the 3-month average volume and the 2 of 8-downside having higher than the 3-month average volume;
  • Monday’s percentage (%) of the 25-upside were +0.06% (CLLS) to +8.60% (MESO) while the 8-downside ranges from -$0.09 (VYGR) to -4.50% (GBT); 

 

Hammered in today’s market:

  • Alnylam Pharmaceuticals (ALNY), Global Blood Therapeutics (GBT), ReNeuron (RENE.L), Ionis Pharmaceuticals (IONS), AxoGen (AXGN) to name 5 of the 8 declining of the 35 covered

Jumping with share pricing momentum:

  • Sage Therapeutics (SAGE), Fate Therapeutics (FATE), BioLife Solutions (BLFS), bluebird bio (BLUE), Mesoblast (MESO) to name 5 of the 25 trading up of 35 covered

 

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

  • Monday, the IBB closed down -1% and XBI also closed down -0.01%
  • Friday, the IBB closed down -0.39% and XBI closed up +0.10%

 

Monday’s (10 of 25) incliners:

  • Sage Therapeutics (SAGE +$2.61 after Friday’s +$0.70);
  • bluebird bio (BLUE +$2.29 after Friday’s -$0.36);
  • Fate Therapeutics (FATE +$2.17 after Friday’s +$0.41);
  • BioLife Solutions (BLFS +$1.55 after Friday’s +$0.35);
  • Mesoblast (MESO +$1.38 after Friday’s +$0.54);
  • CRISPR Therapeutics (CRSP +$0.96 after Friday’s -$3.13);
  • Regenxbio (RGNX +$0.88 after Friday’s -$1.28);
  • Editas Medicine (EDIT +$0.80 after Friday’s -$2.13);
  • Intellia Therapeutics (NTLA +$0.59 after Friday’s -$0.16);
  • Brainstorm Cell Therapeutics (BCLI +$0.48 after Friday’s +$0.64);

Monday’s (8 of 8) decliners:

  • Alnylam Pharmaceuticals (ALNY -$4.96 after Friday -$0.59);
  • Global Blood Therapeutics (GBT -$2.87 after Friday’s -$0.22);
  • ReNeuron (RENE.L -$2.50);
  • Ionis Pharmaceuticals (IONS -$2.11 after Friday’s-$0.30);
  • AxoGen (AXGN -0.49);
  • Athersys (ATHX -$0.03);
  • Caladrius Biosciences (CLBS -$0.02);
  • Voyager Therapeutics (VYGR -$0.01);

Closing flat: 2 - Verastem (VSTM) and Stemline Therapeutics (STML – acquired)

 

Percentage (%) movement/range statistics: comparisons

  • Monday’s percentage (%) of the 25-upside were +0.06% (CLLS) to +8.60% (MESO) while the 8-downside ranges from -$0.09 (VYGR) to -4.50% (GBT); 
  • Friday’s percentage (%) of the 21-upside were +0.17% (MDXG) to +8% (BSTG) while the 11-downside ranged -0.34% (GBT) to -5.78% (EDIT); 

 

Sentiment and a few daily indicators:

Monday’s moves came after President Trump signed several executive orders over the weekend aimed at extending coronavirus relief.

  • Monday 5.05 cases,
  • Friday 4.88 cases,
  • Last Monday 4.66 cases,

Monday’s death rate totaled 162,950 after Friday’s 160,111 and last Monday’s 154,860 <Johns Hopkins University>

 

Stats:

Upside volume: 

  • Monday: 3 out of the 25-upside had higher than the 3-month average volume;
  • Friday: 1 out of the 21-upside had higher than the 3-month average volume;

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Monday was down -0.08 points or -0.35% at 22.13
  • Friday was down -0.44 points or -1.94% at 22.21

Downside volume:

  • Monday: 2 out of the 8-downside had higher than the 3-month average volume;
  • Friday: 2 out of the 11-downside had higher than the 3-month average volume;

 

August, the second month of Q3 …

Monday (8/10) closed positive with 25 advancers, 8 declines and 2 flats

Friday closed positive with 21 advancers, 11 declines and 3 flats

Thursday closed negative with 11 advancers, 23 decline and 1 flat

Wednesday closed positive with 19 advancers, 15 declines and 1 flat

Tuesday closed negative with 13 advancers, 20 declines and 2 flats

Last Monday (8/3) closed positive with 31 advancers, 1 decline and 3 flats

 

The Bottom line:  The sector and overall stock market tends to consistently rise and fall over the short-term with alternating volatility and involuntary momentum contraction.

On vacation …

Spare the sell call, ruin the portfolio!

 

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.