October 2, 2020 5:45pm

Pre-open indication results: 3 HITs and 3 MISS

Week in review, numbers speak louder than words

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.

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The Dow closed DOWN -134.09 points (-0.48 %), the S&P closed -32.38 points (-0.96%) while the Nasdaq closed DOWN -251.49 points (-2.22%)

 

Henry’omics:

Indexes fell although did claw back some of the losses …

The Dow closed lower after dropping 430 points at its session low; while the S&P 500 slid after falling as much as 1.7% earlier as the Nasdaq declined.

September’s disappointing jobs report is fueling concern that the nascent economic recovery is hitting a plateau.

Despite Friday’s weakness, major averages all posted modest gains for the week. The Dow gained 1.9%, while the S&P 500 and the Nasdaq rose 1.5% each this week.

 

From today’s Data Docket: Nonfarm payroll rose by 661,000 in September. Economists expected a job’s gain of 800,000. The unemployment rate fell to 7.9% last month.

 

This morning, I stated in this a.m.’s newsletter – RegMed Investors’ (RMi) pre-open: Hunker down … https://www.regmedinvestors.com/articles/11572

 

Pre-open indications: 3 HITs <BioLife Solutions (BLFS -$0.82), Mesoblast (MESO -$6.53), Fate Therapeutics (FATE -$2.52), Pluristem (PSTI +$0.20) and 3 MISS < Biostage (BSTG +$0.03), bluebird bio (BLUE -$2.20), Solid Biosciences (SLDB +$0.72)>

 

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

  • Friday opened negative at 1330 and 2 flats, stayed negative at the mid-day at 8/26 and 1 flat, closing negative at 8/26 and 1 flat;
  • Thursday opened positive at 22/9 and 4 flats, stayed positive at the mid-day at 17/15 and 3 flats, closing positive at 21/12 and 2 flats;
  • Wednesday opened positive at 22/12 and 1 flat, stayed positive at the mid-day at 22/12 and 1 flat, closing negative at 13/20 and 2 flats;
  • Tuesday opened positive at 2013 and 2 flats, slipped neutral at the mid-day at 16/13 and 3 flats, closing negative at 16/18 and 1 flat;
  • Monday opened positive at 23/8 and 4 flats, slipped negative at the mid-day at 15/18 and 2 flats, closing neutral at 16/16 and 3 flats;

 

Key metrics:

  • Sector volume was extremely LOW with 1 of the 8-upside having higher than the 3-month average volume with the increasing volume of 10 of 26-downside having higher than the 3-month average volume;
  • Friday’s percentage (%) of the 8-upside were +0.09% (AXGN) to +20.91% (SLDB) while the 20-downside ranges from -0.61% (VCEL) to -35.18% (MESO); 

 

Hammered in today’s market:

  • Alnylam Pharmaceuticals (ALNY), Mesoblast (MESO), CRISPR Therapeutics (CRSP), Fate Therapeutics (FATE), Ionis Pharmaceuticals (IONS) to name 5 of the 26 declining of the 35 covered

Jumping with share pricing momentum:

  • ReNeuron (RENE.L), Solid Biosciences (SLDB), Pluristem (PSTI), MiMedx (OTC Pink sheets: MDXG), Biostage (BSTG) to name 5 of the 8 inclining of the 35 covered

 

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

  • Friday, the IBB closed down -2.05% and XBI closed down -2.19%
  • Thursday, the IBB closed up +0.93% and XBI closed up +1.32%
  • Wednesday, the IBB closed up +0.59% and XBI closed down -0.23%
  • Tuesday, the IBB closed up +0.10% and XBI closed up +0.68%
  • Monday, the IBB closed up +0.76% and XBI closed up +0.12%

 

Friday’s (8 of 8) incliners:

  • ReNeuron (RENE.L +$3.00 after Thursday’s +$6.50, Wednesday’s +$2.50, Tuesday’s -$2.50 and Monday’s +$0.50);
  • Solid Biosciences (SLDB +$0.72 after Thursday’s +$1.43);
  • Pluristem (PSTI +$0.20 after Thursday’s -$0.51, Wednesday’s +$0.41 and Tuesday’s +$0.63);
  • MiMedx (OTC Pink sheets: MDXG +$0.17);
  • Biostage (BSTG +$0.03 on 950 shares traded after Thursday’s -$0.03);
  • AxoGen (AXGN +$0.01 after Thursday’s -$0.13);
  • Verastem (VSTM +$0.01);
  • Caladrius Biosciences (CLBS +$0.01);

Friday’s (10 of 26) decliners: progressions

  • Alnylam Pharmaceuticals (ALNY -$8.06 after Thursday’s -$1.86, Wednesday’s +$0.59, Tuesday’s +$5.20 and Monday’s +$1.50),
  • Mesoblast (MESO -$6.53);
  • CRISPR Therapeutics (CRSP-$3.67 after Thursday’s -$0.30, Wednesday’s -$1.35, Tuesday’s +$1.30 and Monday’s -$0.40);
  • Fate Therapeutics (FATE -$2.52 after Thursday’s +$0.64, Wednesday’s +$0.57, Tuesday’s -$1.10 and Monday’s +$2.70),
  • bluebird bio (BLUE -$2.20 after Thursday’s -$0.10, Wednesday’s -$1.05, Tuesday’s-$0.90 and Monday’s -$1.14);
  • Ionis Pharmaceuticals (IONS -$2.11);
  • uniQure NV (QURE -$1.89 after Thursday’s +$0.41, Wednesday’s +$0.85, Tuesday’s -$0.43 and Monday’s -$0.94);
  • Cellectis SA (CLLS -$1.16 after Thursday’s -$0.07);
  • Sage Therapeutics (SAGE -$1.12 after Thursday’s -$1.59, Wednesday’s +$1.45, Tuesday’s-$0.22 and Monday’s -$0.93);

Closing flat –1 - Stemline Therapeutics (STML – acquired)

 

Percentage (%) movement/range statistics: a 360 degrees comparison of % and pricing

  • Friday’s percentage (%) of the 8-upside were +0.09% (AXGN) to +20.91% (SLDB) while the 20-downside ranges from -0.61% (VCEL) to -35.18% (MESO); 
  • Thursday’s percentage (%) of the 21-upside were +0.04% (RGNX) to +70.44% (SLDB) while the 12-downside ranges from -0.19% (BLUE) to -5.61% (BCLI); 
  • Wednesday’s percentage (%) of the 13-upside were +0.41% (ALNY) to +5.19% (ADRO) while the 20-downside ranges from -0.26% (AXGN) to -8.01% (NTLA); 
  • Tuesday’s percentage (%) of the 16-upside was +0.32% (CLLS) to +6.64% (PSTI) while the 18-downside ranges from -0.20% (SGMO) to -10.92% (BSTG); 
  • Monday’s percentage (%) of the 16-upside was +0.52% (RARE) to +10.83 (MESO) while the 16-downside ranges from -0.28% (NTLA) to -4.35% (ADVM); 

 

Sentiment and a few daily indicators:

Weighing on sentiment … was a worse-than-expected September jobs report.

Infection cases <Million>:

  • Friday 7.28 M cases
  • Thursday 7.19 M cases
  • Wednesday 7.19 M cases
  • Tuesday 7.16 M cases
  • Monday 7.12 M cases

Friday’s death rate totaled 207,818 after Thursday’s 206,036, Wednesday’s 206,036, Tuesday’s 205,547, Monday’s 204,881 and last Friday’s 202,827 <Johns Hopkins University>

 

Stats:

Upside volume: 

  • Friday: 1 out of the 8-upside had higher than the 3-month average volume;
  • Thursday: 9 out of the 21-upside had higher than the 3-month average volume;
  • Wednesday: 3 out of the 13-upside had higher than the 3-month average volume;
  • Tuesday: 0 out of the 16-upside had higher than the 3-month average volume;
  • Monday: 2 out of the 16-upside had higher than the 3-month average volume;

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Friday was up +0.93 points or +3.48% at 27.63
  • Thursday was up 0.33 points or +1.25% at 26.70
  • Wednesday was up +0.10 points or -0.38% at 26.37
  • Tuesday was up +0.08 points or +0.31% at 26.27
  • Monday was down -0.19 points or -0.72% at 26.19

Downside volume:

  • Friday: 10 out of the 26-downside had higher than the 3-month average volume;
  • Thursday: 3 out of the 12-downside had higher than the 3-month average volume;
  • Wednesday: 3 out of the 20-downside had higher than the 3-month average volume;
  • Tuesday: 2 out of the 18-downside had higher than the 3-month average volume;
  • Monday: 3 out of the 16-downside had higher than the 3-month average volume;

 

October, the first month <October> of Q4 …

Friday (10/1) closed negative with 8 advancers, 26 decliners and 1 flat 

Thursday (10/1) closed negative with 21 advancers, 12 decliners and 2 flats

 

The Bottom Line: it’s Friday and two (2) sessions after the September disaster. Some have speculated that the news about Trump’s health could actually be a good thing for the market in the end.

That might seem like an odd statement, considering that Trump is viewed as the business-friendly incumbent while Biden is viewed as newcomer who might tighten regulations and raise taxes, both political stances that investors view as bearish in the short-term for equities.

Jefferies analyst Sean Darby said that investors should NOT be panicking about Trump’s diagnosis and believes some of the selling in the stock market, which was staging a mini recovery at midday Friday, is overdone. <MarketWatch>

 

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.