Indication intelligence, analysis and sector perception

RegMed Investors’ (RMi) closing bell: the sector got thinned with the prevailing downside trade winds

September 17, 2020 7:24pm

There is still an unknown amount of uncertainty to the future

Pre-open indication results: 4 HITs and 2 MISSes

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The Dow closed DOWN -130.40 points (-0.47%), the S&P closed down -28.48 points (-0.84%) while the Nasdaq closed DOWN -140.19 points (-1.27%)

Henry’omics:

Indexes fell in volatile trading on Thursday amid renewed pressure in shares of major tech companies.

In economic news, the latest U.S. weekly jobless claims came in slightly better than expected. First-time claims for unemployment insurance totaled 860,000 in the week ending Sept.12, versus an estimate of 875,000, according to economists.

This morning, I stated in this a.m.’s newsletter – RegMed Investors’ (RMi) pre-open: short-term trading ranges, safe or sorry? Prospects are dimming for “our” universe” … https://www.regmedinvestors.com/articles/11549

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

Thursday opened negative at 8/25 and 2 flats, stayed negative at the mid-day at 13/20 and 2 flats, closing negative at 13/20 and 2 flats;
Wednesday opened positive at 25/9 and 1 flat, stayed positive at the mid-day at 24/10 and 1 flat, closing positive at 23/10 and 2 flats;
Tuesday opened positive at 22/11 and 2 flats, stayed positive at the mid-day at 27/7 and 1 flat, closing positive at 22/12 and 1 flat;
Monday opened positive at 32/2 and 1 flat, stayed positive at the mid-day at 30/4 and 1 flat, closing positive at 31/3 and 1 flat;

Pre-open indication results: 4 HITs <sell into strength - CRISPR Therapeutics (CRSP -$0.49), Editas Medicine (EDIT -$0.52), Mesoblast (MESO +$0.04), Vericel (VCEL +$0.03) and 2 misses < Biostage (BSTG +$0.09), Ionis Pharmaceuticals (IONS -$0.48)>

Key metrics:

Sector volume was LOW with 2 of the 13-upside having higher than the 3-month average volume and the 2 of 20-downside having higher than the 3-month average volume;

Thursday’s percentage (%) of the 13-upside were +0.02% (RARE) to +6.38% (BSTG) while the 20-downside ranges from -0.04% (FATE) to -5.60% (PGEN);

Hammered in today’s market:

ReNeuron (RENE.L), uniQure NV (QURE), Editas Medicine (EDIT), Intellia Therapeutics (NTLA), CRISPR Therapeutics (CRSP) to name 5 of the 20 declining of the 35 covered

Jumping with share pricing momentum:

Bluebird bio (BLUE), Sage Therapeutics (SAGE), Bellicum Pharmaceuticals (BLCM), Sangamo Therapeutics (SGMO), Brainstorm Cell Therapeutics (BCLI) to name 5 of the 13 inclining of the 35 covered

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

Thursday, the IBB closed down -0.39% and XBI closed down -0.16%
Wednesday, the IBB closed up +0.09% and XBI closed up +2.19%
Tuesday, the IBB closed up +1.01% and XBI closed up +0.94%
Monday, the IBB closed up +5.42% and XBI closed up +6.89%

Thursday’s (10 of 13) incliners:

bluebird bio (BLUE +$1.27 after Wednesday’s +$1.44 and Tuesday’s -$0.87);
Sage Therapeutics (SAGE +$0.96);
Bellicum Pharmaceuticals (BLCM +$0.25 after Wednesday’s -$0.38 and Tuesday’s +$0.73);
Sangamo Therapeutics (SGMO +$0.18 after Wednesday’s -$0.07 and Tuesday’s -$0.15);
Brainstorm Cell Therapeutics (BCLI +$0.17);
Biostage (BSTG +$0.09 after Wednesday’s -$0.14, Tuesday’s +$0.14 and Monday’s +$0.04);
Cellectis SA (CLLS +$0.08);
Solid Biosciences (SLDB +$0.06);
Mesoblast (MESO +$0.040;

Thursday’s (10 of 20) decliners:

ReNeuron (RENE.L -$2.250 after Wednesday’s -$2.00, Tuesday’s -$5.00 and Monday’s -$3.50);
uniQure NV (QURE -$0.57 after Wednesday’s +$3.58 and Tuesday’s -$2.08);
Editas Medicine (EDIT -$0.52 after Wednesday’s +$1.32 and Tuesday’s +$0.57);
Intellia Therapeutics (NTLA -$0.52 after Wednesday’s +$0.70, Tuesday’s +$1.35 and Monday’s +$1.66);
CRISPR Therapeutics (CRSP -$0.49 after Wednesday’s +$0.70, Tuesday’s +$0.88 after Monday’s +$4.73);
Ionis therapeutics (IONS -$0.48 after Wednesday’s -$1.16, Tuesday’s -$0.81 and Monday’s +$1.77);
BioLife Solutions (BLFS -$0.37 after Wednesday’s -$1.88, Tuesday’s +$1.76 and Monday’s +$2.15);
AxoGen (AXGN -$0.32 after Wednesday’s +$2.13);
Precigen (PGEN -$0.29 after Wednesday’s -$0.11);

Closing flat: 2 – Caladrius Biosciences (CLBS) and Stemline Therapeutics (STML – acquired)

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

Thursday’s percentage (%) of the 13-upside were +0.02% (RARE) to +6.38% (BSTG) while the 20-downside ranges from -0.04% (FATE) to -5.60% (PGEN);
Wednesday’s percentage (%) of the 23-upside were +0.16% (ADVM) to +19.81% (AXGN) while the 10-downside ranges from -0.14% (FIXX) to -9.03% (BSTG);
Tuesday’s percentage (%) of the 22-upside were +0.07% (BCLI) to +13.93% (AGTC) while the 12-downside ranges from -0.37% (ALNY) to -8.09% (PSTI);
Monday’s percentage (%) of the 31-upside were +1.69% (BLUE) to +14.75% (VSTM) while the 3-downside ranges from -1.67% (AXGN) to -3.65% (RENE.L);

Sentiment and a few daily indicators:

Conflicting messaging on the coronavirus vaccine front and uncertainty around further stimulus weighed on sentiment.

Infections rates:

Thursday’s 6.63 M
Wednesday’s 6.6 M
Tuesday 6.55 M cases
Monday 6.52 M cases

Thursday’s day’s death rate totaled 196,831 after Wednesday’s 196,023, Tuesday’s 194,547, Monday’s 194,000 after Friday’s 192,448 and the previous Thursday’s 191,536 <Johns Hopkins University>

Stats:

Upside volume:

Thursday: 2 out of the 13-upside had higher than the 3-month average volume;
Wednesday: 6 out of the 23-upside had higher than the 3-month average volume;
Tuesday: 6 out of the 22-upside had higher than the 3-month average volume;
Monday: 12 out of the 31-upside had higher than the 3-month average volume;

The CBOE Volatility Index (VVIX: INDEX) tracked:

Thursday was up +0.42 points or +1.61% at 26.46
Wednesday was up +0.45 points or +1.76% at 26.04
Tuesday was down -0.26 points or -1.01% at 25.59
Monday was down -1.02 points or -3.80% at 25.85

Downside volume:

Thursday: 2 out of the 20-downside had higher than the 3-month average volume;
Wednesday: 7 out of the 10-downside had higher than the 3-month average volume;
Tuesday: 1 out of the 12-downside had higher than the 3-month average volume;
Monday: 2 out of the 3-downside had higher than the 3-month average volume;

September, the third month of Q3 …

Thursday closed negative with 13 advancers, 20 decliners and 2 flats

Wednesday closed positive with 23 advancers, 10 decliners and 2 flats

Tuesday closed positive with 22 advancers, 12 decliners and 1 flat

Monday (9/14) closed positive with 31 advancers, 3 decliners and 1 flat

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

Thursday closed negative with 12 advancers, 20 decliners and 3 flats

Wednesday closed positive with 27 advancers, 5 decliners and 3 flats

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: From this a.m.'s post, it came TRUE – the sector rolled downhill faster than it ran up.

Another I told you so … My contrarian nature is not pessimistic but, reality based – it was just about timing.

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