September 8, 2020 6:03pm

It’s oversold, speculative and sentiment is in the toilet without news of any accomplishment i.e. complacent with profit taking being the extreme

The Biostage (BSTG +$0.12 with 1070 shares traded) Chronicles.

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 DOWN -632.42 points (-2.25%), the S&P closed DOWN -95.12 points (-2.78%) while the Nasdaq closed DOWN -465.44 (-4.11%)

 

Henry’omics:

Indexes fell sharply on Tuesday as technology shares were under pressure once again following their worst sell-off in more than five months last week.

Many say valuations were under pressure amid simmering U.S.-China trade tensions.

This a.m. I stated in this a.m.’s newsletter – RegMed Investors’ (RMi) pre-open:  futures are dumping … https://www.regmedinvestors.com/articles/11534

 

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

  • Tuesday opened negative at 19/15 and 1 flat, popped positive at the mid-day at 19/14 and 2 flats, at 3 p.m. was 19/25 and 1 flat closing negative at 14/19 and 2 flats;
  • Monday was market holiday
  • Friday opened positive at 17/16 and 2 flats, flipped negative at 10:30 a.m. to 2/32 and 1 flat, stayed negative at the mid-day at 3/31 and 1 flat, closing negative at 5/28 and 2 flats;

 

Key metrics:

  • Sector volume was LOW with 4 of the 14-upside having higher than the 3-month average volume and the 3 of 19-downside having higher than the 3-month average volume;
  • Tuesday’s percentage (%) of the 14-upside were +0.13% (ALNY) to +8.89% (BSTG) while the 19-downside ranges from -0.06% (VCEL) to -5.26% (ADRO); 

 

Hammered in today’s market:

  • Ionis Pharmaceuticals (IONS), Ultragenyx (RARE), Editas Medicine (EDIT), Fate Therapeutics (FATE), Intellia Therapeutics (NTLA) to name 5 of the 19 declining of the 35 covered

Jumping with share pricing momentum:

  • ReNeuron (RENE.L), uniQure NV (QURE), Brainstorm Cell Therapeutics (BCLI), Applied Genetic Technologies (AGTC), Homology Medicine (FIXX) to name 5 of the 14 trading up of 35 covered

 

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

  • Tuesday, the IBB closed down -1.86% and XBI also closed down -1.35%
  • Monday was a market holiday
  • Friday, the IBB closed down -0.48% and XBI also closed down -1.14%

 

Monday’s (10 of 14) incliners:

  • ReNeuron (RENE.L +$2.50);
  • uniQure NV (QURE +$1.93);
  • Brainstorm Cell Therapeutics (BCLI +$1.93);
  • Applied Genetic Technologies (AGTC +$0.27 following Friday’s +$0.04);
  • Homology Medicine (FIXX +$0.24);
  • Sangamo Therapeutics (SGMO +$0.16);
  • Alnylam Pharmaceuticals (ALNY +$0.16 following Friday’s -$2.36);
  • Biostage (BSTG +$0.12);
  • Caladrius Biosciences (CLBS +$0.11);
  • Adverum Biotechnologies (ADVM +$0.09);

Monday’s (10 of 19) decliners:

  • Ionis Pharmaceuticals (IONS -$2.89 following Friday’s +$0.34);
  • Ultragenyx (RARE -$2.83 following Friday’s +$2.28);
  • Editas Medicine (EDIT -$1.22 following Friday’s -$1.47);
  • Fate Therapeutics (FATE -$0.70 following Friday’s -$1.28);
  • Intellia Therapeutics (NTLA -$0.65);
  • Sage Therapeutics (SAGE -$0.63);
  • CRISPR Therapeutics (CRSP -$0.56 following Friday’s -$3.67);
  • Regenxbio (RGNX -$0.52 following Friday’s -$0.93);
  • Voyager therapeutics (VYGR -$0.45);
  • AxoGen (AXGN -$0.44 following Friday’s +$0.05);

Closing flat: 2 – MiMedx (OTC Pink sheets: MDXG) and Stemline Therapeutics (STML – acquired)

 

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

  • Tuesday’s percentage (%) of the 14-upside were +0.13% (ALNY) to +8.89% (BSTG) while the 19-downside ranges from -0.06% (VCEL) to -5.26% (ADRO); 
  • Friday’s percentage (%) of the 5-upside were +0.33% (IONS) to +7.52% (BLCM) while the 28-downside ranges from -0.89% (SGMO) to -8.01% (PGEN); 

 

Sentiment and a few daily indicators:

Nine (9) drug makers working on coronavirus vaccines publicly pledged on Tuesday to prioritize safety and uphold rigorous scientific standards as concerns mount of political pressure to bring a vaccine to market before the Nov. 3 U.S. presidential election.

The pledge sought to “ensure public confidence” by committing to only apply for regulatory authorization when enough data has been collected from a large phase three trial. Three vaccine manufacturers have now entered P3 trials. <CNBC>

  • Tuesday 6.31 cases
  • Monday was a holiday
  • Friday 6.15 cases
  • Last Monday 6 cases

Tuesday’s day’s death rate totaled 189,366 following Monday’s miss (my bad) after Friday’s 186,800 after Thursday’s 185,700, Wednesday’s 184,600 and last Tuesday’s 184,114 <Johns Hopkins University>

 

Stats:

Upside volume: 

  • Tuesday: 4 out of the 14-upside had higher than the 3-month average volume;
  • Monday was a holiday
  • Friday: 4 out of the 5-upside had higher than the 3-month average volume;

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Tuesday was up +0.71 points or +2.31% at 31.46
  • Monday was a holiday
  • Friday was down -2.85 points or +8.48% at 30.75

Downside volume:

  • Tuesday: 3 out of the 19-downside had higher than the 3-month average volume;
  • Monday was a holiday
  • Friday: 8 out of the 28-downside had higher than the 3-month average volume;

 

September, the third month of Q3 …

Tuesday (9/10) closed negative with 14 advancers, 19 decliners and 2 flats

Monday was a holiday  

Friday closed negative with 5 advancers, 28 decliners and 2 flats

Thursday closed negative with 2 advancers, 32 decliners and 1 flat

Wednesday closed negative with 18 advancers, 25 decliners and 2 flats

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

 

The Bottom line:  Profit-taking and speculation surrounds individual stocks in “our’ universe of RegMed, cell and gene therapy equities. As the sessions of extremes widen, more stocks are infected.

 

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.