October 15, 2020 8:02am
Are defined by actions, good and bad however, I’m concerned with the roots of volatility
Pre-open indications: 3 BUYs and 4 SELLs
News: Sage Therapeutics (SAGE) reported interim, topline results from a July data cut of the ongoing P3 open-label SHORELINE Study. This clinical study was designed to naturalistically follow patients with major depressive disorder (MDD) and evaluate the safety and tolerability of zuranolone 30 mg in adults for up to one year.
What I provide is an “intelligence daily” to ensure that shareholders are kept apprised based on a 24-hour surveillance of “our” universe, the RegMed/cell and gene therapy sector and its surrounding markets
Subscription is coming, it’s not conscription but, an offer to join our collective of like-minded investors! My gift to you, I've kept RMi subscription FREE during these COVID-19 and volatile times
Dow futures are DOWN -0.89% (-254 points), S&P futures are DOWN -0.93% (-32 points) and NASDAQ futures are DOWN -1.34% (-161 points)
Futures were lower Thursday, pointing to a third straight day of losses for the U.S. stock market;
European stocks fell sharply as restrictions return across Europe due to a surge in coronavirus infections with the pan-European Stoxx 600 dropping -2.4% by mid-morning;
Asia-Pacific were mostly lower; Japan, South Korea, China were lower while Australia edged higher with MSCI’s broadest index slipped -1.15%.
Data Docket: weekly jobless claims numbers are set for release Thursday morning along with the latest data on import and export prices.
Henry’omics:
Ain’t lookin’ good for a positive open and an inclining session … lack of virus remedies, political rhetoric, complaints of censorship and lack of stimulus package create increasing uncertainty …
- J&J said Monday it paused the late-stage trial of its coronavirus vaccine candidate after a participant reported an “adverse event”;
- Less than 24 hours later, Eli Lilly said its late-stage trial of its leading monoclonal antibody treatment for the coronavirus had been paused by U.S. health regulators over potential safety concerns;
- The FDA still has a late-stage clinical trial from AstraZeneca, a frontrunner in the Covid-19 vaccine race, on hold in the United States. That means the company is unable to administer second doses of its two-dose vaccine regimen to U.S. participants.
- Pauses to clinical trials are not uncommon, and the delays should reassure the public that the systems in place intended to protect volunteers are working. <CNBC>
The uncertainty surrounding the aid talks led to the market’s second straight daily decline. The Dow slid more than 160 points, or 0.6%. The S&P 500 (-0.07%) and Nasdaq (-0.08%) pulled back. Wednesday marked the first time since September that the major indexes posted consecutive daily losses. <CNBC>
Wednesday night’s post: RegMed Investors’ (RMi) closing bell: “returning to a deepening downside; everyone has an opinion, I back it up with facts”
- The Nasdaq closed DOWN – 95.17points (-0.80%)
- The IBB closed down -1.31% and XBI closed down -1.85%
- Sector volume was the usual LOW with 5 of the 11-upside having higher than the 3-month average volume with the increased volume of 5 of 22-downside having higher than the 3-month average volume;
- The CBOE Volatility Index (VVIX: INDEX) was up +0.33 points or +1.27% at 26.40
- Wednesday’s percentage (%) of the 11-upside were +0.41% (NTLA) to +5.61% (SLDB) while the 22-downside ranges from -0.06% (SAGE) to -5.55% (FIXX);
Q4’s October, so far: 1 neutral, 5 positive and 4 negative closes
Q3: July through September: 1 neutral, 28 positive and 34 negative closes with 2 holidays
Companies in my headlights – It’s your decision; I provide an idea and context:
Maintaining Sell:
Biostage (BSTG) closed up +$0.02 with 368 shares traded after Tuesday’s flat and Monday’s -$0.01 to $1.50. Question#1: WHO is running the company – outside advisors? WHAT has been the costs of advice by year?
BUY:
Alnylam Pharmaceuticals (ALNY) closed down -$2.75 to $143.91 after Tuesday’s $146.66, Monday’s $147.00 and last Friday’s $147.00 with a POSITIVE +$0.59 or +0.41% aftermarket indication;
Sage Therapeutics (SAGE) closed down -$0.04 to $63.89. SAGE (this a.m.) reported interim, topline results from a July data cut of the ongoing P3 open-label SHORELINE Study. This clinical study was designed to naturalistically follow patients with major depressive disorder (MDD) and evaluate the safety and tolerability of zuranolone 30 mg in adults for up to one year. In May 2020, the protocol was amended to include a 50 mg dose of zuranolone. For the primary endpoint of safety and tolerability, the data analyzed to date show that zuranolone was generally well-tolerated in the 30 mg dose and among the initial patients treated with the 50 mg dose. Adverse events reported in the trial during the period analyzed were generally consistent with results seen in previous clinical trials.
Maintaining BUY:
bluebird bio (BLUE) closed down -$0.96 to $55.79 after Tuesday’s -$1.64 to $56.75, Monday’s $58.39 and last Friday’s $57.60 with a POSITIVE +$0.97 or +1.74%;
SELL:
Editas Medicine (EDIT) closed down -$0.61 to $32.16 after Tuesday’s $32.77, Monday’s $32.22 and last Friday’s $33.09 with a NEGATIVE -0.15 or -$0.47% aftermarket indication;
SELL into Strength:
Cellectis SA (CLLS) closed up +$1.04 to $21.92 after Tuesday’s $20.88, Monday’s $20.24 and last Friday’s $20.06with NO aftermarket indication. A very positive 52-week change of +104.11%, a “peaky” chart exhibits an ability to “lighten” the load after jumping +$1.99 in three (3) sessions;
CRISPR Therapeutics (CRSP) closed down -$1.69 to $101.37 after Tuesday’s $103.06 and Monday’s $99.40 with a POSITIVE +$1.38 or +1.36% aftermarket indication;
The BOTTOM LINE: Coronavirus concerns continue to weigh on sentiment too as infections surge.
Reiterating, the key is NOT to wait for any trade, lately it’s pure speculation.
I just want to be INTO very low risk equities re pricing (closer to lows to later ride the upside) - right now.
Markets do NOT reflect the uncertainty, pauses and pain in the economy and some issues re J&J’s single-dose COVID-19 vaccine being developed.
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.
