Indication intelligence, analysis and sector perception

RegMed Investors’ (RMi) pre-open: ain’t lookin’ good but, better than it has been

September 10, 2020 8:12am

Labor Department’s weekly jobless claims report, today

Pre-open indications: 3 BUY and 4 SELLs

The Biostage (BSTG) Chronicles … WHY have so MANY problems evolved under Hong Yu’s role as president? <read more>

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Dow futures are DOWN -0.48% (-134 points), S&P futures are DOWN -0.41% (-14 points) and NASDAQ futures are DOWN -0.09% (-12 points)

U.S. stock futures implied a negative open Thursday following a one (1) session sector rebound;

European stocks fluctuated ahead of the European Central Bank’s (ECB) latest meeting on monetary policy in the euro zone as the pan-European Stoxx 600 slid 0.4%;

The European Central Bank is keeping its interest rates and coronavirus-stimulus program unchanged. It comes despite a stronger euro, which was trading around $1.1835 ahead of the decision.

Asia-Pacific were mixed, as shares in Indonesian and China markets fell with the MSCI Asia ex-Japan index edged 0.18% higher.

Data Docket: A miss - weekly jobless claims totaled 884,000 last week vs. estimates of 850,000. Continuing claims totaled 13.385 million, an increase of 93,000 from the previous week.

Weekly jobless claims were worse than expected last week amid a plodding climb for the U.S. labor market. Weekly jobless claims were worse than expected last week amid a plodding climb for the U.S. labor market from the damage inflicted by the coronavirus pandemic;
The Labor Department changed its methodology in how it seasonally adjusts the numbers, so the past two weeks’ totals are not directly comparable to the reports from earlier in the pandemic. Claims not adjusted for seasonal factors totaled 857,148, an increase of 20,140 from the previous week.

Henry’omics:

Thursday’s slow and down moves follows a rally for the market on Wednesday, with the S&P 500 rising 2% for its best day since June; the Nasdaq rose 2.7% pulling itself out of correction territory after a sell-off of RegMed, cell and gene therapy stocks which had suffered a drove a sharp sell-off in five (5) straight sessions interrupted by a holiday and followed by a positive close, yesterday.

Thursday night’s post: RegMed Investors’ (RMi) closing bell: “the sector is back on the upside board. Don’t forget the key word – SUSTAINABILITY”

The Nasdaq closed UP +293.87 (+2.71%);
The IBB closed up +1.95% and XBI also closed up +2.21%;
Sector volume was LOW with 1 of the 27-upside having higher than the 3-month average volume and the 2 of 5-downside having higher than the 3-month average volume;
The CBOE Volatility Index (VVIX: INDEX) was down -2.65 points or -8.42% at 28.81;
Wednesday’s percentage (%) of the 5-upside were +0.06% (ALNY) to +7.73% (NTLA) while the 27-downside ranges from -0.40% (ADRO) to -14.19% (AGTX);

Q3 so far:

September, 1 positive close, 5 negative closes and 1 holiday
August, 10 positive closes and 11 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 down -$0.12 after Tuesday’s +$0.12 to $1.47 following Friday’s close at $1.35 and last Thursday’s -$0.13 to $1.30.

Analysts ask questions … and usually don’t get a response from this company. Wonder WHY the “EXODUS”?

Question #1: WHY have so MANY problems evolved under the current president, Hong Yu? BOD exits, executive resignations and scientists leaving?

Question#2: WHERE is the OVERSIGHT now …?

Question#3: WHY no messaging or explanations to shareholders – is there a communication gap?

SELL into strength:

BioLife solutions (BLFS) closed up +$1.08 to $23.11 after Tuesday’s $22.03 following Friday’s $22.12 and does NOT aftermarket indication and a short percentage (5) of float of 4.22%;

CRISPR Therapeutics (CRSP) closed up +$3.79 after Tuesday’s -$0.56 to $81.46 after Friday’s $82.02 and has a positive +$1.05 or +1.23% aftermarket indication having seen a high 9/1 at $93.42, a 52-week change of +70.17% and a short percentage (%) of float of 7.35;

Editas Medicine (EDIT) closed UP +$1.70 TO $30.95 AFTER Tuesday’s -$1.22 to $29.25 after Friday’s $30.47, a negative -$0.65 or -2.10% aftermarket indication and a 52-week change of +10.09% with a short percentage (%) of float of 14.83%;

Maintaining BUY:

Applied Genetic Technologies (AGTC) closed down -$0.87 to $5.26 and has a positive +$0.13 or +2.475 aftermarket indication after reporting earnings for Q4 and FY2020.

Global Blood Therapeutics (GBT) closed down -$0.98 to $57.76 after Tuesday’s -$0.26 to $58.74 after Friday’s $59.00 and has NO aftermarket indication on under-appreciated news of entering into an exclusive agreement with Biopharma-Middle East and Africa (Biopharma-MEA) to distribute Oxbryta® (voxelotor) tablets in Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates, collectively known as the Gulf Cooperation Council (GCC) region. There are estimated to be more than 100,000 people age 12 years and older in this region living with sickle cell disease (SCD).

Cellectis SA (CLLS) closed up +$0.79 to $16.75 after Tuesday’s 4 and Friday’s $ and has appositive +$0.25 or +1.49% aftermarket indication;

The BOTTOM LINE: I am NOT buying into these peaks – that I don’t believe they will last.

Same theme, different session: “Skim if you can trim, buy if it will fly and sell if compelled!”

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.

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Editor and Publisher ... Henry McCusker enters his tenth (10th) year at RegMed Investors with past experience in sell-side analysis, buy-side management, corporate management and due diligence.

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The facts stated and the opinions given in this publication are based on data and information considered to be reliable and have been carefully worked into my qualitative analyses and prognoses. However, no guarantee can be given as to their fairness, accuracy or completeness.

Henry McCusker, the editor and publisher of RegMed Investors does not hold or have positions in securities referred to in this publication.