August 13, 2020 8:17am

They are part of the the foundation of coming to a conclusion

Pre-open indications: 4 BUYs and 3 SELLs

Financing: Adverum Biotechnologies (ADVM) announces a $13.00 price of sale of 14.5 million share offering

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Dow futures are DOWN -0.13% (-37 points), S&P futures are DOWN -0.13% (-5 points) and NASDAQ futures are UP +0.10% (+12 points)

 

Futures fluctuated lower but, the Nasdaq is barely up on Wednesday night after the S&P 500 but fell just short of a record close, one reason - the lack of progress in negotiations over a U.S. pandemic relief package;

European stocks were trading lower with the Europe Stoxx 600 index was down -0.4% in early morning trades;

Asia Pacific markets traded mixed although the MSCI index (of Asia-Pacific shares outside Japan) edged up 0.13%.

 

 

Henry’omics:

Investors continue to keep a watchful eye on Washington, where the nation’s top lawmakers continue to haggle over a new coronavirus-relief package for American households and businesses.

 

Data Docket: weekly jobless claims are to be released; another 1.1 million workers are expected to have filed first-time claims for state unemployment benefits during the week ended August 8. Last week, the government said initial jobless claims rose by 1.18 million during the week ended August 1. That marked the 20th straight week in which initial claims remained above 1 million. <CNBC>

 

Wednesday night’s post title – “another slump, the sector is notoriously susceptible to rotation”

  • The NASDAQ closed UP +229.42 points (+2.13%);
  • The IBB closed up +1.46% and XBI also closed up +0.32%
  • Sector volume was LOW with 3 of the 13-upside having higher than the 3-month average volume and the 3 of 19-downside having higher than the 3-month average volume;
  • The CBOE Volatility Index (VVIX: INDEX) was down -1.75 points or -7.28% at 22.28
  • Wednesday’s percentage (%) of the 13-upside were +0.06% (ALNY) to +6.21% (VSTM) while the 19-downside ranges from -0.09% (VYGR) to -7.52% (BLFS);   

Last five (5) sessions:

  • Wednesday closed negative with 13 advancers, 19 declines and 3 flats
  • Tuesday closed negative with 3 advancers, 32 declines and 1 flat
  • Monday (8/10) closed positive with 25 advancers, 8 declines and 2 flats
  • Friday closed positive with 21 advancers, 11 decline and 3 flats
  • Last Thursday closed negative with 11 advancers, 23 decline and 1 flat

Q3 so far:

  • August, 4 positive closes and 4 negative closes
  • July -11 positive and 11 negative closes with 1 holiday

 

Companies in my headlights – It’s your decision; I provide an idea and context:

Maintaining Sell:

Biostage (BSTG) closed flat at -$0.00 after Tuesday’s -$0.02, Monday’s +$0.19, Friday’s +$0.20, and last Thursday’s +$0.32 to $2.50.  Keep writing those checks to “PUMP” the share price.

Remember, there are millions of private placement millions unregistered shares (priced at $3.20, $3.60 and $3.70) existing FAR beyond the outstanding shares with more coming …

Question: Nevin Morris did your office get ALL the information needed and requested re regulatory filings? Let’s check on … financial responsibility page … and the list goes-on! Do you really think … the “birds” won’t sing to regulatory authorities!

Mrs. bin Zhao, the major stock holder and head of DST Capital, BSTG’s funder: if you had stuck to the original turn-around plan, BSTG would NOT be in this position! YOU will also be held RESPONSIBLE IF and WHEN the Feds step-in.

  • Facts are irrefutable and the First amendment of the U.S. Constitution protects American’s free speech.

 

Maintaining BUY:

Global Blood Therapeutics (GBT) closed up +$1.12 to $61.63 after Tuesday’s -$0.44 and Monday’s -$2.87 and has a positive +$0.17 or +0.28% aftermarket indication;

 

BUY:

Applied Genetic Technologies (AGTC) closed down -$0.08 to $5.64 after Tuesday’s $5.72 and Monday’s $5.90 and has a positive +$0.36 or +6.385 aftermarket indication;

Mesoblast (MESO) closed up +$0.48 to $11.81 after Tuesday’s $11.33 and Monday’s $17.42 and has a positive +$0.39 or +3.30% aftermarket indication;

Sangamo Therapeutics (SGMO) closed down -$0.46 to $11.68 after Tuesday’s $12.14 and Monday’s $12.48 and has a positive +$0.12 or +1.03% aftermarket indication;

 

SELL into strength:

CRISPR Therapeutics (CRSP) closed up +$1.86 to $91.31 after Tuesday’s $89.45 and Monday’s $90.77 and has a positive +$0.19 or +0.21% aftermarket indication;

 

BUY to SELL:

Editas Medicine (EDIT) closed up +$0.56 to $34.75 after Tuesday’s -1.32 and has a negative -$0.60 or -1.73% aftermarket indication;

 

The BOTTOM LINE: I’m on vacation but, still watching!

One can take a good or bad feeling, re-frame it, and suddenly that feeling is the solution. Not me, I don’t run from any feeling but, take that sensation itself as a sharpened stick to “poke’ mainstream thinking.

Remember, the 6 W’s: Who, what, where, when, why and what of it

 

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.