September 1, 2020 5:44pm

After Monday’s (8/31) positive close of 24 advancers, 8 decliners and 3 flats

Pre-open indication results: 7 HITs and 0 MISS

The Biostage (BSTG -$0.05 or -3.33%) Chronicles. Question (from this a.m., is he the same VP of Finance who left five (5) months ago? for WHAT reasons this time – last time didn’t he just literally disappear pre audit review and the 2019 K and Q were due? What Koll-Aid are they serving the six (6) accounting types that have left BSTG especially the interum CFO who said "this place is nuts" in leaving?

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The Dow closed UP +215.61 points (+0.76%), the S&P closed UP +26.34 points (+0.75%) while the Nasdaq closed UP +164.21 (+1.39%)

 

Pre-open indication results: 7 HITS < Biostage (BSTG -$0.05), Sell into strength – CRISPR Therapeutics (CRSP -$0.03), Editas Medicine (EDIT -$0.05), Mesoblast (MESO -$0.56), Ionis Pharmaceuticals (IONS -$0.22), Intellia Therapeutics (NTLA -$0.17), uniQure NV (QURE -$0.65) – profitable, always good to lighten the “load” and 0 MISS

 

Henry’omics:

Indexes rose on Tuesday as traders kicked off a historically tough month for the market building on August’s performance since the 1980s.

While our RegMed, cell and gene therapy sector waivered in August as the Nasdaq jumped 9.6%, posting its best monthly performance since 2000.

This a.m. I stated in this a.m.’s newsletter – RegMed Investors’ (RMi) pre-open: we’re heading into the back end of Q3 … https://www.regmedinvestors.com/articles/11526

 

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

  • Tuesday opened negative at 14/18 and 3 flats, stayed negative at the mid-day at 8/25 and 12 flats, closing negative at 4/29 and 4 flats;
  • Monday opened positive at 17/16 and 2 flats, stayed positive at the mid-day at 24/10 and 1 flat, closing positive at 24/8 and 3 flats;
  • Friday opened positive at 17/15 and 3 flats, flipped negative at the mid-day at 12/21 and 2 flats, closing positive at 27/8 and 2 flats;

 

Key metrics:

  • Sector volume was LOW with 2 of the 4-upside having higher than the 3-month average volume and the 6 of 29-downside having higher than the 3-month average volume;
  • Tuesday’s percentage (%) of the 4-upside were +0.38% (VCEL) to +6.33% (BLFS) while the 29-downside ranges from -0.04% (CRSP) to -9.92% (BLCM); 

 

Hammered in today’s market:

  • Ultragenyx (RARE), Alnylam Pharmaceuticals (ALNY), Sage Therapeutics (SAGE), bluebird bio (BLUE), Global Blood Therapeutics (GBT) to name 5 of the 29 declining of the 35 covered

Jumping with share pricing momentum:

  • BioLife Solutions (BLFS), AxoGen (AXGN), Homology Medicine (FIXX), Vericel (VCEL) to name 4 of the 4 trading up of 35 covered

 

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

  • Tuesday, the IBB closed down -1.90% and XBI also closed down -2.01%
  • Monday, the IBB closed up +1.92% and XBI also closed up +2.78%
  • Friday, the IBB closed up +0.29% and XBI also closed up +0.85%

 

Tuesday’s (4 of 4) incliners:

  • BioLife Solutions (BLFS +$1.35);
  • AxoGen (AXGN +$0.40);
  • Homology Medicine (FIXX +$0.30 after Monday’s -$0.02);
  • Vericel (VCEL +$0.06 after Monday’s -$0.52);

Tuesday’s (10 of 29) decliners:

  • Ultragenyx (RARE -$2.76 after Monday’s -$0.63);
  • Global Blood Therapeutics (GBT -$2.33 after Monday’s +$0.75);
  • Alnylam Pharmaceuticals (ALNY -$2.23 after Monday’s +$1.23);
  • bluebird bio (BLUE -$2.05 after Monday’s +$2.55);
  • Sage Therapeutics (SAGE -$1.75 after Monday’s +$2.73);
  • Regenxbio (RGNX -$1.04 after Monday’s +$0.65);
  • Sangamo Therapeutics (SGMO -$1.04);
  • Fate Therapeutics (FATE -$0.73 after Monday’s +$0.42);
  • uniQure NV (QURE -$0.65 after Monday’s +$1.68);
  • Bellicum Pharmaceuticals (BLCM -$0.59 after Monday’s -0.24);

Closing flat: 4 –Applied Genetic Technologies (AGTC), MiMedx (OTC Pink sheets: MDXG), ReNeuron (RENE.L) and Stemline Therapeutics (STML – acquired)

 

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

  • Tuesday’s percentage (%) of the 4-upside were +0.38% (VCEL) to +6.33% (BLFS) while the 29-downside ranges from -0.04% (CRSP) to -9.92% (BLCM); 
  • Monday’s percentage (%) of the 24-upside were +0.10% (MESO) to +10.32% (ADRO) while the 8-downside ranges from -0.19% (FIXX) to -4.55% (VSTM);
  • Friday’s percentage (%) of the 25-upside were +0.09% (FIXX) to +6.74% (SAGE) while the 8-downside ranges from -0.35% (ADRO) to -23.71% (BSTG);  

 

Sentiment and a few daily indicators:

Swiss pharmaceutical company Roche will launch its new rapid coronavirus test in Europe at the end of the month, as more companies roll out rapid antigen tests heading into the fall.

While, a top group advising U.S. health officials predicted that four (4) late-stage coronavirus vaccine trials backed by the United States could fail to provide positive results. <CNBC>

  • Tuesday 6.05 cases
  • Monday 6 cases
  • Friday 5.8 cases

Tuesday’s day’s death rate totaled 184,114 after Monday’s 183,200, Friday’s 180.800, Thursday’s 179,700 after Wednesday’s 178,500 after last Tuesday’s 177,773 <Johns Hopkins University>

 

Stats:

Upside volume: 

  • Tuesday: 2 out of the 4-upside had higher than the 3-month average volume;
  • Monday: 4 out of the 24-upside had higher than the 3-month average volume;
  • Friday: 0 out of the 25-upside had higher than the 3-month average volume;

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Tuesday was down -0.29 points or -1.10% at 26.12
  • Monday was up +3.45 points or +15.03% at 25.41
  • Friday was down -1.51 points or -6.17% at 22.96

Downside volume:

  • Tuesday: 6 out of the 29-downside had higher than the 3-month average volume;
  • Monday: 1 out of the 8-downside had higher than the 3-month average volume;
  • Friday: 2 out of the 8-downside had higher than the 3-month average volume;

 

September, the third month of Q3 …

Tuesday (9/1) closed negative with 4 advancers, 29 decliners and 2 flats

 

 

The Bottom line:  September has historically been the worst month for the market since 1950, according to data from the Stock Trader’s Almanac. The data shows that the Dow averages a loss of 0.7% in September while the S&P 500 averages a 0.5% decline.

Investors are awaiting a key monthly jobs report on Friday, which is forecast to show payrolls continued to rebound in August. Economists polled by Dow Jones forecast that 1.255 million jobs were created in August. <CNBC> also remember, September is the end of Q3 and it has been a WILD month of share pricing and many working from home.

 

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.