RegMed Investors’ (RMi) pre-open: today’s outcome

November 3, 2020 7:07am

The future of “our” country is at stake

Pre-open indications: 2 BUYs and 5 SELLs

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 UP +1.54% (+413 points), S&P futures are UP +1.15% (+38 points) and NASDAQ futures are UP +0.42% (+46 points)

Futures are on the rise on U.S. Election Day 0n Tuesday;

European markets advanced ahead of the U.S. presidential election with the pan-European Stoxx 600 adding +1.2% in early trade;

Asia-Pacific were higher as the Reserve Bank of Australia’s lowered its cash rate target.

• The moves in Asia-Pacific came as the Reserve Bank of Australia reduced its cash rate target to 0.1%. Following the RBA announcement, the Australian dollar changed hands at $0.709, after falling to an earlier low of $0.7025.

Henry’omics:

As investors waited for the results of the presidential election between incumbent Donald Trump and former Vice President Joe Biden.

• Investors are also eyeing the key Senate election which will determine if the so-called Blue Wave will take over Congress. Major policy shifts, including further fiscal stimulus, depend on which parts have majority control.

Indexes had rebounded on Monday from a sell-off to end October that was driven by a rise in Covid-19 cases, a breakdown in economic stimulus talks, and uncertainty about the election.

Monday also got a boost after manufacturing activity in October jumped to its highest level in more than two years, pointing to a resilient economy in the face of the coronavirus.

• The ISM Manufacturing PMI rose to 59.3, a reading that indicates the percentage of companies reporting that activity expanded during the month.

Monday night’s post: RegMed Investors’ (RMi) closing bell: “sector’s upside is paying a toll to roll forward” … https://www.regmedinvestors.com/articles/11616     

• The Nasdaq closed UP +46.02 points (+0.42%);
• The IBB closed down -0.18% and XBI closed down -0.01%;
• Sector volume was the usual LOW with 7 of the 17-upside having higher than the 3-month average volume with the increased volume of 5 of 15-downside having higher than the 3-month average volume;
• The CBOE Volatility Index (VVIX: INDEX) was down -0.89 points or -2.34% at 37.13;
• Monday’s percentage (%) of the 17-upside were +0.19% (VYGR) to +14.66% (MDXG) while the 15-downside of -0.11% (PSTI) to -11.59% (BLCM);

Q4’s: November, so far: 1 positive close

Q4’s October: 1 neutral, 11 positive and 10 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 flat at $1.38 with 102 shares traded after Friday’s +$0.02 to $1.38 with 523 shares traded, Thursday’s flat at $1.35 (after being up +$0.14 with pricing erosion with 16,972 shares traded – 3-month average = 5058 shares), Wednesday’s -$0.04 to $1.36 with 261 shares traded and last Tuesday’s flat at $1.40

• Question#1: WHY were MANY of the consultants NOT PAID after having brought the IND to approval?
• Question#2: WHO is Nevitt Morris and WHAT is his relationship to the IND process;
• Question#3: Did he receive all the needed information to render an approval to the IND re financial responsibilities?
• Question#4: WHO should have been held to high standards of providing the TOTAL information to the FDA?

Brainstorm Cell Therapeutics (BCLI) closed up +$0.59 to $10.62 after Friday’s -$0.72 to $10.03 with a NEGATIVE -$0.34 or -3.20% aftermarket indication;

SELL into Strength:

Athersys (ATHX) closed up +$0.08 to $1.83 and has a NEGATIVE -$0.01 or -0.55% aftermarket indication;

Editas Medicine (EDIT) closed up +$0.36 to $31.30 after Friday’s $30.94, Thursday’s $32.79, Wednesday’s $31.60 and last Tuesday’s $32.51 with a NEGATIVE -$1.10 or -3.51% aftermarket indication

uniQure NV (QURE) closed up +$0.44 to $40.87 after Friday’s $40.43, Thursday’s $40.25, Wednesday’s $38.85, Tuesday’s $42.18 with a -$0.37 or -0.91% aftermarket indication;

Maintaining BUY:

Applied Genetic Technologies (AGTC) closed down -$0.01 to $5.15 after Friday’s -$0.10 to 5.16, Thursday’s $5.26, Wednesday’s $5.13 and last Tuesday’s $5.33; OVSOLD with a 52-day moving average of 5.21 and a 200-day moving average of 5.18;

Vericel (VCEL) closed up +$0.55 to $19.88 after Friday’s $, Thursday’s $18.53, Wednesday’s $18.83 and last Tuesday’s $19.54 with a POSITIVE +$0.07 or +0.37% aftermarket indication;

The BOTTOM LINE: The world’s markets are in a holding pattern as investors await clarity on the U.S. election!

Reiterating,” short-term risk and sentiment continue to weigh on investors, there are certainly fleeting patterns.’

The capricious risky asset pricing from a weakening epidemic and economic outlook could continue; which is diminishing trust in any circumstances, especially given all the uncertainty regarding the U.S. elections.

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.