October 28, 2020 5:34pm

Most covered companies suffered from the exposure

Pre-open indication results: 5 HITs and 1 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 -923.24 points (-3.43%), the S&P closed DOWN -119.65 points (-3.53%) while the Nasdaq closed DOWN -426.48 points (-3.73%)

 

Henry’omics:

Indexes fell sharply on Wednesday amid concerns over the big increase in coronavirus infections and the global economy.

  • The U.S. indexes took their cues from the European market benchmarks. The German Dax index fell 4.2% to its lowest level since late May. The French CAC 40 slid 3.4%. The FTSE 100 in London closed 2.6% lower. <CNBC>

 

Pre-open indication: 5 HITs <Biostage (BSTG -$0.04); SELL into Strength – Adverum Biotechnologies (ADVM -$0.67) CRISPR Therapeutics (CRSP -$3.41), Editas Medicine (EDIT -$0.90), Intellia Therapeutics (NTLA -$1.04) > and 1 MISS < Alnylam Pharmaceuticals (ALNY -$1.94)>

 

This morning, I stated in this a.m.’s newsletter – RegMed Investors’ (RMi) pre-open: the storm is upon us that I have been writing about … https://www.regmedinvestors.com/articles/11608

 

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

  • Wednesday opened negative at 1/32 and 2 flats, stayed negative at the mid-day at 3/31 and 1 flat, closing negative at 3/30 and 2 flats;
  • Tuesday opened positive at 19/13 and 3 flats, stayed positive at the mid-day at 21/12 and 2 flats, closing positive at 19/13 and 3 flats;
  • Monday opened negative at 13/19 and 3 flats, stayed negative at the mid-day at 5/28 and 2 flats, closing negative at 9/24 and 2 flats;

 

Key metrics:

  • Sector volume was the usual LOW with 0 of the 3-upside having higher than the 3-month average volume with the increased volume of 6 of 30-downside having higher than the 3-month average volume;
  • Wednesday’s percentage (%) of the 3-upside were +0.62% (ATHX) to +2.73% (BLCM) while the 30-downside ranges from -0.29% (SLDB) to -10.24% (KDNY);

 

Hammered in today’s market:

  • CRISPR Therapeutics (CRSP), uniQure NV (QURE), Global Blood Therapeutics (GBT), Ultragenyx (RARE), Fate Therapeutics (FATE) to name 5 of the 30 declining of the 35 covered

Jumping with share pricing momentum:

  • Sage Therapeutics (SAGE), Bellicum Pharmaceuticals (BLCM), Athersys (ATHX) to name 3 of the 3 inclining of the 35 covered

 

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

  • Wednesday, the IBB closed down -2.58% and XBI closed down -2.75%
  • Tuesday, the IBB closed up +0.56% and XBI closed up +1.19%
  • Monday, the IBB closed down -1.01% and XBI closed down -1.34%

 

Wednesday’s (3 of 3) incliners:

  • Sage Therapeutics (SAGE +1.05 after Tuesday’s +$2.30 and Monday’s -$3.00);
  • Bellicum Pharmaceuticals (BLCM +$0.17 after Tuesday’s -$0.14 and Monday’s +$0.05);
  • Athersys (ATHX +$0.01 after Tuesday’s -$0.07 and Monday’s +$0.08);

Wednesday’s (10 of 30) decliner:

  • CRISPR Therapeutics (CRSP -$3.41 after Tuesday’s +$3.99 and Monday’s +$1.40);
  • uniQure NV (QURE -$3.33 after Tuesday’s -$1.27 and Monday’s +$0.61);
  • Global Blood Therapeutics (GBT -$2.65);
  • Ultragenyx (RARE -$2.44 after Tuesday’s +$6.19 and Monday’s -$1.98);
  • Fate Therapeutics (FATE -$2.43 after Tuesday’s +$0.56 and Monday’s -$1.58);
  • Alnylam Pharmaceuticals (ALNY -$1.94 after Tuesday’s -$1.85 and Monday’s -$3.12);
  • Chinook Therapeutics (KDNY -$1.48 after Tuesday’s -$0.45);
  • Regenxbio (RGNX -$1.29 after Tuesday’s +$0.70 and Monday’s +$0.15);
  • bluebird bio (BLUE -$1.24);
  • BioLife Solutions (BLFS -$1.24 after Tuesday’s +$1.53);

Closing flat - 2 – ReNeuron (RENE.L) and Stemline Therapeutics (STML – acquired)

 

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

  • Wednesday’s percentage (%) of the 3-upside were +0.62% (ATHX) to +2.73% (BLCM) while the 30-downside ranges from -0.29% (SLDB) to -10.24% (KDNY);
  • Tuesday’s percentage (%) of the 19-upside were +0.09% (GBT) to +6.78% (RARE) while the 13-downside of -0.05% (VCEL) to -4.14% (ATHX);
  • Monday’s percentage (%) of the 9-upside were +0.28% (GBT) to +4.97% (ATHX) while the 24-downside of -0.14% (VYGR) to -9.62% (SLDB);

 

Sentiment and a few daily indicators:

Sentiment dives as the Cboe Volatility Index (VIX), known as the market’s “fear gauge,” jumped above 40 and hit its highest level since June 15.

Infection cases <Million>:

  • Wednesday 8.78 M cases
  • Tuesday 8.75 M cases
  • Monday 8.66 M cases

Wednesday’s death rate totaled 226,777 after Tuesday’s 226,436, Monday’s 225,434, Friday’s 223,059, Thursday’s 222,416 and Wednesday’s 221,122 <Johns Hopkins University>

 

Stats:

Upside volume: 

  • Wednesday: 0 out of the 3-upside had higher than the 3-month average volume;
  • Tuesday: 3 out of the 19-upside had higher than the 3-month average volume;
  • Monday: 2 out of the 9-upside had higher than the 3-month average volume;

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Wednesday was up +8.93 points or +20.78% at 40.28
  • Tuesday was up +0.89 points or +2.74% at 33.45
  • Monday was up +4.91 points or +17.82% at 32.46

Downside volume:

  • Wednesday: 6 out of the 30-downside had higher than the 3-month average volume;
  • Tuesday: 3 out of the 13-downside had higher than the 3-month average volume;
  • Monday: 3 out of the 24-downside had higher than the 3-month average volume;

 

October, the first month <October> of Q4 …

Wednesday closed negative with 3 advancers, 30 decliners and 2 flats 

Tuesday closed positive with 19 advancers, 13 decliners and 3 flats 

Monday (10/26) closed negative with 9 advancers, 24 decliners and 2 flats 

Friday closed positive with 24 advancers, 10 decliners and 1 flat

Thursday closed positive with 26 advancers, 7 decliners and 2 flats

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

Tuesday closed negative with 14 advancers, 19 decliners and 2 flats

Monday (10/19) closed negative with 8 advancers, 25 decliners and 2 flats 

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

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: Bubble, bubble; the market and sector are getting chewed!

The recent uptick in COVID cases has led many states to institute various levels of shout-downs or lock-ups.

Maintaining thought: this week’s market movements are NOT a signal of strength, sentiment and breath!

 

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.