August 24, 2020 5:09pm

Pre-open indication results: 4 HITs and 1 MISS

News: Editas Medicine (EDIT) the U.S. FDA has granted Rare Pediatric Disease (RPD) designation for EDIT-301, an experimental, autologous cell medicine, being developed for sickle cell disease and plans to file an IND for EDIT-301 by the end of 2020.

The Biostage (BSTG -$0.22) Chronicles: the public share pricing bounces down as a $4.00 private placement of 75,000 shares “detonate” the increasing restricted and unregistered shares

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The Dow closed UP +378.13 points (+1.35%), the S&P closed UP +34.12 points (+1%) while the NASDAQ closed UP +67.92 points (+0.60%)

 

Pre-open indication results: 4 HITs < Biostage (BSTG -$0.22, BioLife Solutions (BLFS -$0.13), uniQure NV (QURE -$0.31), CRISPR Therapeutics (CRSP -$3.87) and 1 MISS < Mesoblast (MESO +$0.19), >

 

Henry’omics:

Indexes rose to an all-time high on Monday, lifted by gains in tech and some reopening names, as sentiment around the coronavirus pandemic improved.

This a.m. I stated in this a.m.’s newsletter – RegMed Investors’ (RMi) pre-open: take some risk-off the table as another health decision, considering entry share pricing during highs … https://www.regmedinvestors.com/articles/11514

The Trump administration is also considering fast-tracking an experimental coronavirus vaccine developed in the U.K. for use in the United States ahead of the nation’s upcoming presidential election. <Financial Times>

 

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

  • Monday opened negative at 14/19 and 2 flats, stayed negative at the mid-day at 8/24 and 3 flats, closing negative at 7/26 and 2 flats;
  • Friday opened negative at 12/22 and 1 flat, stayed negative at the mid-day at 10/24 and 1 flat, closing negative at 12/22 and 1 flat;

 

Key metrics:

  • Sector volume was LOW with 0 of the 7-upside having higher than the 3-month average volume and the 7 of 26-downside having higher than the 3-month average volume;
  • Monday’s percentage (%) of the 7-upside were +0.20% (PSTI) to +4.52% (VYGR) while the 26-downside ranges from -0.09% (FIXX) to -13.58% (BSTG); 

 

Hammered in today’s market:

  • Alnylam Pharmaceuticals (ALNY), Ultragenyx (RARE), CRISPR Therapeutics (CRSP), Global blood Therapeutics (GBT), Fate Therapeutics (FATE) to name 5 of the 26 declining of the 35 covered

Jumping with share pricing momentum:

  • Voyager Therapeutics (VYGR), bluebird bio (BLUE), Mesoblast (MESO), Regenxbio (RGNX), Cellectis SA (CLLS), Pluristem (PSTI), MiMedx (OTC Pink sheet: MDXG) to name 7 of the 7 trading up of 35 covered

 

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

  • Monday, the IBB closed down -1.17% and XBI also closed down -2.39%
  • Friday, the IBB closed down -0.58% and XBI also closed down -1.23%

 

Monday’s (7 of 7) incliners:

  • Voyager Therapeutics (VYGR +$0.54 after Friday’s +$0.35);
  • bluebird bio (BLUE +$0.24);
  • Mesoblast (MESO +$0.19 after Friday’s +$0.80);
  • Regenxbio (RGNX +$0.14 after Friday’s -$0.51);
  • MiMedx (OTC: Pink sheets: MDXG +$0.14);
  • Cellectis SA (CLS +$0.05);
  • Pluristem (PSTI +$0.02 after Friday’s -$0.43);

Monday’s (10 of 26) decliners:

  • Alnylam Pharmaceuticals (ALNY -$4.85 after Friday’s +$0.24);
  • CRISPR Therapeutics (CRSP -$3.87 after Friday’s -$1.30);
  • Global Blood Therapeutics (GBT -$3.15 after Friday’s +$0.16);
  • Ultragenyx (RARE -$3.03 after Friday’s -$0.40);
  • Fate Therapeutics (FATE -$2.10);
  • Editas Medicine (EDIT -$1.85 after Friday’s -$0.68);
  • Sage Therapeutics (SAGE -$1.31 after Friday’s -$0.87);
  • Brainstorm Cell Therapeutics (BCLI -$1.13 after Friday’s +$0.12);
  • Precigen (PGEN -$0.54 after Friday’s +$0.52);
  • Ionis Pharmaceuticals (IONS -$0.45 after Friday’s -$0.38);

Closing flat: 2 – ReNeuron (RENE.L) and Stemline Therapeutics (STML – acquired)

 

Percentage (%) movement/range statistics: 360 degrees comparisons

  • Monday’s percentage (%) of the 7-upside were +0.20% (PSTI) to +4.52% (VYGR) while the 26-downside ranges from -0.09% (FIXX) to -13.58% (BSTG); 
  • Friday’s percentage (%) of the 12-upside were +0.18% (ALNY) to +21.80% (BSTG) while the 22-downside ranges from -0.36% (BLUE) to -4.12% (PSTI); 

 

Sentiment and a few daily indicators:

Sentiment rose on Monday, building on a record-setting week, as developments on coronavirus treatments drove the bullish sentiment. Monday’s moves come as the number of new coronavirus cases continues to decline in the U.S.

  • Monday 5.7 cases
  • Friday 5.57 cases
  • Last Monday 5.4 cases

Monday’s day’s death rate totaled 176,800 after Friday’s 175,000, Thursday’s 173,600, Wednesday’s 172,418, Tuesday’s 171,013 and last Monday’s 170,000, <Johns Hopkins University>

 

Stats:

Upside volume: 

  • Monday: 0 out of the 7-upside had higher than the 3-month average volume;
  • Friday: 3 out of the 12-upside had higher than the 3-month average volume;

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Monday was down -0.23 points or -1.02% at 22.32
  • Friday was down -0.18 points or -0.79% at 22.54

Downside volume:

  • Monday: 7 out of the 26-downside had higher than the 3-month average volume;
  • Friday: 2 out of the 22-downside had higher than the 3-month average volume;

 

August, the second month of Q3 …

Monday closed negative with 7 advancers, 26 decline and 2 flats

Friday closed negative with 12 advancers, 22 decline and 1 flat

Thursday closed negative with 12 advancers, 22 decline and 1 flat

Wednesday closed negative with 16 advancers, 17 declines and 2 flats

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

Monday (8/17) closed positive with 29 advancers, 4 declines and 2 flats

Friday closed negative with 10 advancers, 23 decline and 2 flats

Thursday closed positive with 19 advancers, 11 decline and 4 flats

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 declines and 3 flats

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

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

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

 

The Bottom line:  the sector got wiped all but, clean of any of last week’s past upsides.

Remember, the oversold shall rise again … investors need to be careful as only a small group of stocks is contributing to the market’s rally.

 

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.