August 27, 2020 5:11pm

Pre-open indication results: 4 MISS and 4 MISS

An “intelligence newspaper” for smart investing in the RegMed, gene and cell therapy sector.  I say today what others won't, so you can do what others can't.

Subscription is coming, my gift to you, I've kept RMi subscription FREE during these COVID-19 and volatile times!

The Dow closed UP +160.35 points (+0.57%), the S&P closed UP +5.82 points (+0.17%) while the NASDAQ closed DOWN -39.72 points (-0.34%)

 

Pre-open indication results: 4 HITS <bluebird bio (BLUE +$0.03), Global Blood Therapeutics (GBT +$0.21), Pluristem (PSTI +$0.49)> and 4 MISS < Applied Genetic Technologies (AGTC -$0.17), Adverum Biotechnologies (ADVM -$0.31), Biostage (BSTG +$0.24, the volume of pumping), Mesoblast (MESO +$0.25)

 

Henry’omics:

The Dow and S&P 500 rose on Thursday after the Fed unveiled a new framework that could keep interest rates lower for a longer period of time while the Nasdaq slid.

  • Stocks got a boost to start the session after Fed Chairman Jerome Powell said the central bank formally agreed to a policy of “average inflation targeting.” In other words, the central bank will let inflation run “moderately” above its 2% goal for “some time.” <CNBC>

The Cboe Volatility Index (VIX), widely considered to be the best “fear gauge” on Wall Street, rose by 1.08 points to 24.35. The VIX also hit its highest level since Aug. 3.

This a.m. I stated in this a.m.’s newsletter – RegMed Investors’ (RMi) pre-open: sector timing doesn’t have clocks or hands … https://www.regmedinvestors.com/articles/11520

 

 

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

  • Thursday opened negative at 11/21 and 3 flats, stayed negative at the mid-day at 12/22 and 1 flat, closing positive at 17/16 and 2 flats;
  • Wednesday opened negative at 9/21 and 4 flats, stayed negative at the mid-day at 13/13 and 1 flat, closing negative at 8/25 and 2 flats;
  • Tuesday opened positive at 18/14 and 3 flats, stayed positive at the mid-day at 29/6 and 2 flats, closing positive at 30/3 and 2 flats;
  • 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;

 

Key metrics:

  • Sector volume was LOW with 3 of the 17-upside having higher than the 3-month average volume and the 1 of 16-downside having higher than the 3-month average volume;
  • Thursday’s percentage (%) of the 17-upside were +0.07% (RGNX) to +14.12% (BSTG) while the 17-downside ranges from -0.05% (BLUE) to -6% (ADRO); 

 

Hammered in today’s market:

  • Cellectis SA (CLLS), Adverum Biotechnologies (ADVM), Sage Therapeutics (SAGE), Intellia therapeutics (NTLA), Homology Medicine (FIXX) to name 5 of the 16 declining of the 35 covered

Jumping with share pricing momentum:

  • BioLife Solutions (BLFS), CRISPR Therapeutics (CRSP), Pluristem (PSTI), AxoGen (AXGN), Precigen (PGEN) to name 5 of the 17 trading up of 35 covered

 

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

  • Thursday, the IBB closed down -0.11% and XBI also closed down -0.81%
  • Wednesday, the IBB closed down -0.17% and XBI also closed down -1.24%
  • Tuesday, the IBB closed up +1.53% and XBI also closed up +1.20%
  • Monday, the IBB closed down -1.17% and XBI also closed down -2.39%

 

Thursday’s (10 of 17) incliners:

  • BioLife Solutions (BLFS +$0.58 after Wednesday’s +$0.15);
  • CRISPR Therapeutics (CRSP +$0.51);
  • Pluristem (PSTI +$0.49 after Wednesday’s +$0.05);
  • AxoGen (AXGN +$0.46 after Wednesday’s +$0.09);
  • Precigen (PGEN +$0.42);
  • Ultragenyx (RARE +$0.41 after Wednesday’s -$3.47, Tuesday’s +$2.52 and Monday’s -$3.03);
  • uniQure NV (QURE +$0.40 after Wednesday’s -$1.81 and Tuesday’s +$1.64);
  • Fate Therapeutics (FATE +$0.35);
  • Ionis Pharmaceuticals (IONS +$0.30);
  • Mesoblast (MESO +$0.25 after Wednesday’s +$0.67, Tuesday’s -$1.04 and Monday’s +$0.19);

Thursday’s (10 of 16) decliners:

  • Cellectis SA (CLLS -$0.53 after Wednesday’s +$0.10);
  • Sage Therapeutics (SAGE -$0.51 after Wednesday’s -$3.03);
  • Adverum Biotechnologies (ADVM -$0.35 after Wednesday’s -$0.60);
  • Intellia Therapeutics (NTLA -$0.28);
  • Homology Medicine (FIXX -$0.24);
  • Voyager Therapeutics (VYGR -$0.24 after Wednesday’s -$0.56);
  • Editas medicine (EDIT -$0.21);
  • Sangamo Therapeutics (SGMO -$0.19)
  • Aduro Biotech (ADRO -$0.18);

Closing flat: 2 – Alnylam Pharmaceuticals (ALNY) and Stemline Therapeutics (STML – acquired)

 

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

  • Thursday’s percentage (%) of the 17-upside were +0.07% (RGNX) to +14.12% (BSTG) while the 17-downside ranges from -0.05% (BLUE) to -6% (ADRO); 
  • Wednesday’s percentage (%) of the 8-upside were +0.49% (PSTI) to +21.43% (BSTG) while the 25-downside ranges from -0.01% (CRSP) to -6.05% (SAGE); 
  • Tuesday’s percentage (%) of the 30-upside were +0.08% (BLUE) to +5.91% (ATHX) while the 3-downside ranges from -0.64% (BLCM) to -5.56% (MESO); 
  • 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); 

 

Sentiment and a few daily indicators:

The governors of New York, New Jersey, Connecticut and California said they will not follow controversial new guidance from the Centers for Disease Control and Prevention. The guidance says people without symptoms who have been exposed to infected people might not need to be tested for Covid-19, a reversal from the agency’s previous guidance.

The FDA has authorized a new Covid-19 test from Abbott Labs that costs just about $5 and produces results in 15 minutes.

  • Thursday 5.8 cases
  • Wednesday 5.7 cases
  • Tuesday 5.75 cases
  • Monday 5.7 cases

Thursday’s day’s death rate totaled 179,700 after Wednesday’s 178,500 after Tuesday’s 177,773 following Monday’s 176,800 <Johns Hopkins University>

 

Stats:

Upside volume: 

  • Thursday: 3 out of the 17-upside had higher than the 3-month average volume;
  • Wednesday: 2 out of the 8-upside had higher than the 3-month average volume;
  • Tuesday: 1 out of the 30-upside had higher than the 3-month average volume;
  • Monday: 0 out of the 7-upside had higher than the 3-month average volume;

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Thursday was up +1.09 points or +4.68% at 24.35
  • Wednesday was up +1.24 points or +5.63% at 23.27
  • Tuesday was down -0.34 points or -1.52% at 22.03
  • Monday was down -0.23 points or -1.02% at 22.32

Downside volume:

  • Thursday: 1 out of the 16-downside had higher than the 3-month average volume;
  • Wednesday: 2 out of the 25-downside had higher than the 3-month average volume;
  • Tuesday: 2 out of the 3-downside had higher than the 3-month average volume;
  • Monday: 7 out of the 26-downside had higher than the 3-month average volume;

 

August, the second month of Q3 …

Thursday closed positive with 17 advancers, 16 decliners and 2 flats

Wednesday closed negative with 8 advancers, 25 decliners and 2 flats

Tuesday closed positive with 30 advancers, 3 decliners and 2 flats

Monday (8/24) closed negative with 7 advancers, 26 decliners and 2 flats

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

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

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

Tuesday closed negative with 13 advancers, 20 decliners 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 prospect of continued simulative policy discussions pushes the major market indexes to new record highs, a feat both the Nasdaq and S&P 500 clinched on Wednesday ... but, these negotiations are NOT going well - so be prepared for the final edition of talks or continued breakdowns.

 

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.