October 15, 2020 5:11pm

Are we resigned to a headline driven market and uncertainty as election rhetoric heightens?

Pre-open indication results: 5 HITs and 2 MISS

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 -19.80 points (-0.07%), the S&P closed DOWN -5.33 points (-0.15%) while the Nasdaq closed DOWN -54.86 points (-0.47%)

 

Henry’omics:

Indexes fell on Thursday as the outlook for a coronavirus stimulus deal remained uncertain and infections across Europe are increasing and the Biden son issue acerbates the headlines.

Thursday’s losses marked the third straight daily decline for the major averages, their longest losing streak in nearly a month.

 

This morning, I stated in this a.m.’s newsletter – RegMed Investors’ (RMi) pre-open: outcomes are defined by actions, good and bad however, I’m concerned with the roots of volatility” … https://www.regmedinvestors.com/articles/11590

 

This a.m.’s Data Docket: The Labor Department said Thursday there were 898,000 first-time filers of jobless benefits in the prior week, higher than a Dow Jones estimate of 830,000.

 

Pre-open indications: 5 HITs < Biostage (BSTG -$0.02); BUY: Alnylam Pharmaceuticals (ALNY +$0.03), Sage Therapeutics (SAGE +$2.50) SELL into Strength: Cellectis SA (CLLS -$2.60), CRISPR Therapeutics (CRSP -$1.48) and 2 MISS < bluebird bio (BLUE -$0.51), Editas Medicine (EDIT +$0.09) >

 

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

  • Thursday opened negative at 9/24 and 2 flats, stayed negative at the mid-day at 10/21 and 4 flats, closing positive at 17/15 and 3 flats;
  • Wednesday opened positive at 22/10 and 3 flats, strayed negative at the mid-day at 15/18 and 2 flats, closing negative at 11/22 and 2 flats;
  • Tuesday opened negative at 15/18 and 2 flats, stayed negative at the mid-day at 14/17 and 4 flats, closing positive at 20/12 and 3 flats;
  • Monday opened negative at 10/22 and 3 flats, stayed negative at the mid-day at 14/18 and 3 flats, closing neutral at 16/16 and 3 flats;

 

Key metrics:

  • Sector volume was the usual LOW with 4 of the 17-upside having higher than the 3-month average volume with the increased volume of 2 of 15-downside having higher than the 3-month average volume;
  • Thursday’s percentage (%) of the 17-upside were +0.02% (ALNY) to +7.07% (PGEN) while the 15-downside ranges from -0.89% (SGMO) to -11.86% (CLLS);

 

Hammered in today’s market:

  • Cellectis SA (CLLS), CRISPR Therapeutics (CRSP), Brainstorm Cell Therapeutics (BCLI), Chinook Therapeutics (KDNY formerly Aduro Biotech ADRO), BioLife Solutions (BLFS) to name 5 of the 15 declining of the 35 covered

Jumping with share pricing momentum:

  • Sage Therapeutics (SAGE), Fate Therapeutics (FATE), Ultragenyx (RARE), Ionis Pharmaceuticals (IONS), Precigen (PGEN), to name 5 of the 17 inclining of the 35 covered

 

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

  • Thursday, the IBB closed down -2.27% and XBI closed up +0.19%
  • Wednesday, the IBB closed down -1.31% and XBI closed down -1.85%
  • Tuesday, the IBB closed up +0.48% and XBI closed up +1.37%
  • Monday, the IBB closed up +0.79% and XBI closed up +0.25%

 

Thursday’s (10 of 17) incliners:

  • Sage Therapeutics (SAGE +$2.50);
  • Fate Therapeutics (FATE +$1.14 after Wednesday’s -$2.08, Tuesday’s +$0.29 and Monday’s +$1.02),
  • Ultragenyx (RARE +$1.08 after Wednesday’s -$4.71, Tuesday’s +$1.90 and Monday’s +$1.05);
  • Ionis Pharmaceuticals (IONS +$0.58);
  • Precigen (PGEN +$0.33);
  • Global Blood Therapeutics (GBT +$0.29 after Wednesday’s +$0.29, Tuesday’s +$2.68 and Monday’s -$3.83);
  • AxoGen (AXGN +$0.28);
  • Adverum Biotechnologies (ADVM +$0.20 after Wednesday’s +$0.15, Tuesday’s +$0.46);
  • uniQure NV (QURE +$0.17 after Wednesday’s -$1.00 and Tuesday’s -$0.51);
  • Editas Medicine (EDIT +$0.09 after Wednesday’s -$0.61, Tuesday’s +$0.55 and Monday’s- $0.87);

Thursday’s (10 of 15) decliner:

  • Cellectis SA (CLLS -$2.60 after Wednesday’s +$1.07 and Tuesday’s +$0.64);
  • CRISPR Therapeutics (CRSP -$1.48 after Wednesday’s -$1.69, Tuesday’s +$3.66 and Monday’s +$1.14);
  • Brainstorm Cell Therapeutics (BCLI -$1.40);
  • Chinook Therapeutics (KDNY -$1.30 formerly Aduro Biotech ADRO);
  • BioLife Solutions (BLFS -$0.60 after Wednesday’s +$0.23, Tuesday’s -$0.26 and Monday’s -$0.89);
  • Mesoblast (MESO -$0.59);
  • bluebird bio (BLUE -$0.51 after Wednesday’s -$0.96, Tuesday’s -$1.64 and Monday’s +$0.79);
  • Intellia Therapeutics (NTLA -$0.46 after Wednesday’s +$0.10, Tuesday’s +$0.70 and Monday’s -$2.40);
  • Pluristem (PSTI -$0.35);
  • Sangamo Therapeutics (SGMO -$0.10);

Closing flat –3 – ReNeuron (RENE.L), Vericel (VCEL) and Stemline Therapeutics (STML – acquired)

 

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

  • Thursday’s percentage (%) of the 17-upside were +0.02% (ALNY) to +7.07% (PGEN) while the 15-downside ranges from -0.89% (SGMO) to -11.86% (CLLS);
  • 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);
  • Tuesday’s percentage (%) of the 20-upside were +0.25% (MESO) to +4.58% (GBT) while the 12-downside of -0.23% (ALNY) to -4.78% (PGEN);
  • Monday’s percentage (%) of the 16-upside were +0.44% (QURE) to +5.92% (AXGN) while the 16-downside of -0.52% (ATHX) to -11.78% (PGEN);

 

Sentiment and a few daily indicators:

Sentiment was also dampened as European governments reinstate pandemic restrictions to curb a second wave of the coronavirus. France has declared a public health state of emergency and the U.K. is nearing a second national lockdown. European stock benchmarks dropped broadly.

Infection cases <Million>:

  • Thursday 7.91 M cases
  • Wednesday 7.86 M cases
  • Tuesday 7.8 cases
  • Monday 7.77 M cases

Thursday’s death rate totaled 216,904 after Wednesday’s 215,971, Tuesday’s 215,101, Monday’s 214,882, Friday’s 212,789 and last Thursday’s 211,844 a<Johns Hopkins University>

 

Stats:

Upside volume: 

  • Thursday: 4 out of the 17-upside had higher than the 3-month average volume;
  • Wednesday: 5 out of the 11-upside had higher than the 3-month average volume;
  • Tuesday: 3 out of the 20-upside had higher than the 3-month average volume;
  • Monday: 3 out of the 16-upside had higher than the 3-month average volume;

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Thursday was up +0.57 points or +2.16% at 26.97
  • Wednesday was up +0.33 points or +1.27% at 26.40
  • Tuesday was up +1 points or +3.99% at 26.07
  • Monday was up +0.07 points or +0.28% at 25.07

Downside volume:

  • Thursday: 2 out of the 15-downside had higher than the 3-month average volume;
  • Wednesday: 5 out of the 22-downside had higher than the 3-month average volume;
  • Tuesday: 0 out of the 12-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 …

Thursday closed positive with 17 advancers, 15 decliners and 3 flats

Wednesday closed negative with 11 advancers, 22 decliners and 2 flats 

Tuesday closed positive with 20 advancers, 12 decliners and 3 flats 

Monday (10/12) closed neutral with 16 advancers, 16 decliners and 3 flats 

Friday closed positive with 21 advancers, 9 decliners and 5 flats 

Thursday closed positive with 18 advancers, 14 decliners and 3 flats

Wednesday closed positive with 26 advancers, 9 decliners and 2 flats 

Tuesday closed negative with 11 advancers, 23 decliners and 1 flat 

Monday (10/5) closed positive with 33 advancers, 1 declined and 1 flat 

Friday 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: I haven’t been wrong as volatility sets the pace of share pricing. The coronavirus pandemic has left its imprint on just about everything and vulnerable to bad news as Covid-19 cases continue spike in some areas.

While hopes for near-term stimulus have faded as Democrats and Republicans remain at odds.

 

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.