November 17, 2020 7:57am
After Nine (9) of eleven (11) positive closes and a positive XBI run of six (6) sessions is the glass soon to be what?
Pre-open indications: 7 SELLs into Strength
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
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Dow futures are DOWN -0.65% (-195 points), S&P futures are DOWN -0.51% (-19 points) and NASDAQ futures are UP +0.26% (+31 points)
Stock futures (except Nasdaq) are rolling downhill after record close implying a negative session;
European markets edge lower based on the outlook for the EU’s near-term economic recovery after Hungary and Poland blocked the adoption (Monday) of the 2021-2027 budget and recovery fund by EU governments while the pan-European Stoxx 600 hovered around -0.2% below the flatline;
Asia-Pacific markets were mixed with Japan and Australia closed up while Mainland China and South Korea were down and the MSCI’s broadest index of Asia-Pacific shares outside Japan was almost flat.
Data Docket: Business inventories, Capacity Utilization, Industrial Production, Retail Sales, Retail sales (x-autos) and some earnings
All-time closing highs could be taking a breather …
As the Dow and S&P 500 posted all-time closing highs. On Monday
A vaccine is great news but, we won’t be inoculated tomorrow, next week or even next month – maybe by or in 2021
If 1 million cases were confirmed in less than a week in the U.S.; WHAT will be the “numbers” in the coming “dark times” or winter?
Monday night’s recap: RegMed Investors’ (RMi) closing bell: “hurrah to gains yet, confidence is still on the edgy side; otherwise, we would be seeing more weighting to “our’ universe” https://www.regmedinvestors.com/articles/11637
- The Nasdaq closed UP +98.48 points (+0.80%);
- The IBB closed up +0.01% and XBI closed up +0.48%;
- Sector volume was the usual LOW with 8 of the 19-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 -0.65 points or -2.81% at 22.45;
- Monday’s percentage (%) of the 19-upside were +0.60% (FIXX) to +8.38% (PGEN) while the 15- downside of -0.35% (KDNY) to -8.16% (BSTG);
Q4’s: November, so far: 9 positive and 2 negative closes
- Q4’s October: 1 neutral, 11 positives with 1 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:
Biostage (BSTG) closed down -$0.12 to $ +$0.045 with 1,010 shares traded to $1.47 after Thursday’s -$0.075 with 800 shares traded, Wednesday’s flat at $1.50 with 55 shares traded after Tuesday’s +$0.15 to $1.50 with 200 shares traded and last Monday’s -$0.25 to $1.35 with 2.235 shares traded).
- Question#1: WHO is working in the company; the lights are OUT, are there ANY staff left even working remotely and WHAT are they doing?
- QUESTION#2: WHICH CRO would work with BSTG after all the “complications” of paying the IND group? Is this another “pay us for past billings us or we won’t file or complete any process”? Their reputation precedes them ... doesn't it?
- Reiterating, Question#3: WHY can’t BSTG jump into the pediatric market; they MUST COMPLETE a 3-5 adult patient trial before they can even file for a NEW pediatric IND; isn’t that fact TRUE?
Global Blood Therapeutics (GBT) closed down -$0.50 to $42.61 after Friday’s +$2.88 to $43.11, Thursday’s +$2.58 to $40.23, Wednesday’s $37.65 and last Tuesday’s $37.80 with a NEGATIVE -$0.17 or -0.40% aftermarket indication
SELL into Strength:
Cellectis SA (CLLS) closed up +$0.94 to $20.06 after Friday’s $19.12, Thursday’s $17.99, Wednesday’s $17.61 and last Tuesday’s $16.98. NO aftermarket indication but, a “peaky” chart and a 52-week change of +43.54% and a short ratio of -4.42% or -844.69K;
CRISPR Therapeutics (CRSP) closed up +$2.80 to $106.76 after Friday’s $103.96, Thursday’s $101.77, Wednesday’s $100.64 and last Tuesday’s $98.70. NO aftermarket indication but, a “peaky” chart and a 52-week change of +77.62% and a short percentage (%) of float of -10.18%
Intellia Therapeutics (NTLA) closed up again +$1.12 to $34.35 after Friday’s +$3.52 to $33.23, Thursday’s $29.17, Wednesday’s $29.63 and Tuesday’s $29.51 with NO aftermarket indication. A 52-weeek change of +144.34, a short percentage (%) of float of 30.45% after blowing by a 52-week high of $31.46;
Ionis Pharmaceuticals (IONS) closed up again +$0.58 to $52.15 after Friday’s +$2.32 to $51.57, Thursday’s $49.25, Wednesday’s $49.21 and last Tuesday’s $50.18, with a NEGATIVE -$0.17 or -0.32 aftermarket indication;
uniQure NV (QURE) closed up +$0.74 to $43.99 after Friday’s $43.29, Thursday’s $42.44, Wednesday’s $43.12 and last Tuesday’s $44.00 with a NEGATIVE -$0.16 or -0.36% aftermarket indication with a short percentage (%) of -6.49% or -2.87 M;
The BOTTOM LINE: Just another session of uncertainty … as the algorithms are hungry for profit!
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.