November 11, 2020 5:30pm

The bond market was closed Wednesday due to the Veterans Day holiday

Pre-open indication results: 7 HITs and 4 MISS

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The Dow closed DOWN -23.29 points (-0.08%), the S&P closed UP +27.13 points (+0.77%) while the Nasdaq closed UP +232.57 points (+2.01%)

 

Henry’omics:

The S&P 500 and Nasdaq rose on Wednesday as the RegMed, stem, cell and gene therapy sector dropped and then popped closing positive.

 

Pre-open indication: 7 HITs <Biostage (BSTG -$0.00 with 55 shares traded), bluebird bio (BLUE -$1.13), Alnylam Pharmaceuticals (ALNY +$4.04), Homology Medicine (FIXX +$0.17), Mesoblast (MESO +$0.20), Global Blood Therapeutics (GBT -$0.15), Verastem (VSTM -$0.00) and 4 MISS < Applied Genetic Technologies (AGTC -$0.46), CRISPR Therapeutics (CRSP +$1.94), Pluristem (PSTI +$0.41), Ultragenyx (RARE +$3.20)>

 

This morning, I stated in this a.m.’s newsletter – RegMed Investors’ (RMi) pre-open: vaccine rally engine runs the tracks … https://www.regmedinvestors.com/articles/11630

 

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

  • Wednesday opened negative at 13/19 and 3 flats, stayed negative at the mid-day at 16/17 and 2 flats, closing positive at 17/15 and 3 flats;
  • Tuesday opened negative at 13/17 and 5 flats, stayed negative at the mid-day at 9/923 and 3 flats, cruised positive at 3 p.m. at 21/12 and 2 flats to close positive at 22/11 and 2 flats;
  • Monday opened positive at 25/7 and 3 flats, stayed positive at the mid-day at 24/9 and 2 flats, closing positive at 21/12 and 2 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 4 of 15-downside having higher than the 3-month average volume;
  • Wednesday’s percentage (%) of the 17-upside were +0.03% (AXGN) to +9% (BLCM) while the 15-downside ranges from -0.36% (VCEL) to -8.14% (AGTC);

 

Hammered in today’s market:

  • Sage Therapeutics (SAGE), bluebird bio (BLUE), ReNeuron (RENE.L), Ionis Pharmaceuticals (IONS), uniQure NV (QURE) to name 5 of the 15 declining of the 35 covered

Jumping with share pricing momentum:  

  • Alnylam Pharmaceuticals (ALNY), Ultragenyx (RARE), CRISPR Therapeutics (CRSP), BioLife Solutions (BLFS), Fate Therapeutics (FATE) to name 5 of the 17 inclining of the 35 covered

 

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

  • Wednesday, the IBB closed up +1.29% and XBI closed up +1.39%
  • Tuesday, the IBB closed up +0.40% and XBI closed up +1.50%
  • Monday, the IBB closed down -0.08% and XBI closed up +0.42%

 

Wednesday’s (10 of 17) incliners:

  • Alnylam Pharmaceuticals (ALNY +$3.20 after Tuesday’s -$2.43 and Monday’s -$3.25);
  • Ultragenyx (RARE +$2.35 after Tuesday’s +$3.76 and Monday’s +$2.30);
  • CRISPR Therapeutics (CRSP +$1.35 after Tuesday’s -$0.95 and Monday’s -$3.01);
  • Regenxbio (RGNX +$0.62 after Tuesday’s +$0.60 and Monday’s +$2.99);
  • BioLife Solutions (BLFS +$0.58);
  • Pluristem (PSTI +$0.43 after Tuesday’s -$0.04 and Monday’s -$1.13);
  • Cellectis SA (CLLS +$0.23 after Tuesday’s -$0.92 and Monday’s +$0.84);
  • Fate Therapeutics (FATE +$0.31 after Tuesday’s +$1.92 and Monday’s +$2.41);
  • Bellicum Pharmaceuticals (BLCM +$0.29);
  • Voyager Therapeutics (VYGR +$0.18 after Tuesday’s -$2.60);

Wednesday’s (10 of 15) decliners:

  • Sage Therapeutics (SAGE -$1.27 after Tuesday’s +$1.81 and Monday’s -$0.23);
  • bluebird bio (BLUE -$1.13);
  • ReNeuron (RENE.L -$1.00 after Tuesday’s -$10.00 and Monday’s +$16.00);
  • Ionis Pharmaceuticals (IONS -$0.97);
  • uniQure NV (QURE -$0.88 after Tuesday’s +$2.00 and Monday’s +$1.02);
  • Editas Medicine (EDIT -$0.78 after Tuesday’s -$0.53 and Monday’s -$0.08
  • Sangamo Therapeutics (SGMO -$0.70);
  • Applied Genetic Technologies (AGTC -$0.46);
  • Precision (PGEN -$0.22 after Tuesday’s +$0.57);
  • MiMedx (MDXG -$0.21 after Tuesday’s -$0.08 and Monday’s -$0.19);

Closing 2 – Biostage (BSTG), Verastem (VSTM) and 1 –Stemline Therapeutics (STML – acquired)

 

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

  • Wednesday’s percentage (%) of the 17-upside were +0.03% (AXGN) to +9% (BLCM) while the 15-downside ranges from -0.36% (VCEL) to -8.14% (AGTC);
  • Tuesday’s percentage (%) of the 22-upside were +0.16% (IONS) to +11.11% (BSTG with only 200 shares traded) while the 11-downside of -0.46% (PSTI) to -23.21% (VYGR);
  • Monday’s percentage (%) of the 21-upside were +0.35% (BCLI) to +17.68% (RENE.L) while the 12- downside of -0.26% (EDIT) to -15.62% (BSTG);

 

Sentiment and a few daily indicators:

The vaccine and antibody drug news comes as the United States once again topped its prior day record of daily new Covid-19 infections, on a seven-day average, while Wednesday’s moves came after strong back-to-back strong sessions for the Dow that were sparked by Pfizer (PFE) and BioNTech’s (BNTX) announcement about their more than 90% effective Covid-19 vaccine. A strong also, Eli Lilly’s antibody drug was cleared by the FDA for emergency use late Monday.

Infection cases <Million>:

  • Wednesday 10.26 M cases
  • Tuesday 10.1 M cases
  • Monday 10 M cases

Wednesday’s death rate totaled 239,732 after Tuesday’s 238,251, Monday’s 237,742, Friday’s 234,049, Thursday’s 233,767 and last Wednesday’s 232,693 <Johns Hopkins University>

 

Stats:

Upside volume: 

  • Wednesday: x out of the 17-upside had higher than the 3-month average volume;
  • Tuesday: 8 out of the 22-upside had higher than the 3-month average volume;
  • Monday: 15 out of the 21-upside had higher than the 3-month average volume;

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Wednesday was down -1.33 points or -5.36% at 23.47
  • Tuesday was down -0.95 points or -3.69% at 24.80
  • Monday was up +0.89points or +3.58% at 25.75

Downside volume:

  • Wednesday: x out of the 15-downside had higher than the 3-month average volume;
  • Tuesday: 6 out of the 11-downside had higher than the 3-month average volume;
  • Monday: 6 out of the 12-downside had higher than the 3-month average volume;

 

November, the 2nd month of Q4 …

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

Tuesday closed positive with 22 advancers, 11 decliners and 2 flats 

Monday (11/9) closed positive with 21 advancers, 12 decliners and 2 flats 

Friday closed negative with 6 advancers, 28 decliners and 1 flat 

Thursday closed positive with 20 advancers, 11 decliners and 4 flats 

Wednesday closed positive with 28 advancers, 4 decliners and 3 flats  

Tuesday closed positive with 30 advancers, 4 decliners and 1 flat 

Monday (11/2) closed positive with 17 advancers, 15 decliners and 3 flats 

 

The Bottom Line: Today, it opened neutral, dropped at 10 a.m. and then it came back to close positive by a hair – quant firms are selling to raise cash for the next big run!

 

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.