November 30, 2020 5:05pm

Optimism gets rebalanced; while vaccines are not yet arm-ready vial filled

Pre-open indication results: 6 HITs and 1 MISS

News: Intellia Therapeutics (NTLA) proposes offering https://www.regmedinvestors.com/articles/11655

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The Dow closed DOWN -271.73 points (-0.91%); the S&P closed DOWN -16.72 points (-0.46%) while the Nasdaq closed DOWN -7.11 points (-0.06%)

 

Henry’omics:

Indexes fell sharply on Monday as investors cashed in some gains logged in November.

Month-end rebalancing of portfolios played into Monday's weakness, analysts said, as investors cash in on gains after a strong month marked by updates of COVID-19 vaccines making headway and hopes of a swift economic rebound next year.

Despite Monday’s losses, the major averages remained on track to post sharp monthly gains.

 

Pre-open indication: 6 HITs <Biostage (BSTG -$0.01 with 1,575 shares traded); SELL into Strength: Fate Therapeutics (FATE +$0.55), Athersys (ATHX -$0.05), CRISPR Therapeutics (CRSP +$5.37), Editas Medicine (EDIT -$0.75), Verastem Oncology (VSTM +$0.02) and 1 MISS < Sage Therapeutics (SAGE -$1.48)>

 

This morning, I stated in this a.m.’s newsletter – RegMed Investors’ (RMi) pre-open: the month wraps with rotation, migration and fluctuation … https://www.regmedinvestors.com/articles/11654

 

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

  • Monday opened negative at 13/20 and 2 flats, strayed neutral at the mid-day at 16/16 and 3 flats, closing positive at 21/13 and 1 flat;
  • Friday opened positive at 39/4 and 2 flats, closing early positive at 30/4 and 1 flat;

 

Key metrics:

  • Sector volume was the usual LOW with 12 of the 21-upside having higher than the 3-month average volume with the increased volume of 9 of 13-downside having higher than the 3-month average volume;
  • Monday’s percentage (%) of the 21-upside were +0.04% (ALNY) to +15.67% (BCLM) while the 13- downside of -0.14% (KDNY) to -5.96% (RGNX);

 

Hammered in today’s market:

  • Ultragenyx (RARE), Regenxbio (RGNX), Sage Therapeutics (SAGE), Adverum Biotechnologies (ADVM), Editas Medicine (EDIT) to name 5 of the 13 declining of the 35 covered

Jumping with share pricing momentum:  

  • CRISPR Therapeutics (CRSP), ReNeuron (RENE.L), Cellectis SA (CLLS), uniQure NV (QURE), Vericel (VCEL) to name 5 of the 21 inclining of the 35 covered

 

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

  • Monday, the IBB closed up +0.35 % and XBI closed up +0.27%
  • Friday, the IBB closed up 3.07% and XBI closed UP +3.67%

 

Monday’s (10 of 21) incliners:

  • CRISPR Therapeutics (CRSP +$5.37 after Friday’s +$11.55);
  • ReNeuron (RENE.L +$2.50 after Friday’s -$1.50);
  • Cellectis SA (CLLS +$1.16 after Friday’s +$1.79);
  • Global Blood Therapeutics (GBT +$1.05);
  • uniQure NV (QURE +$1.01 after Friday’s +$0.920;
  • Fate Therapeutics (FATE +$0.55);
  • Pluristem (PSTI +$0.53);
  • Bellicum Pharmaceuticals (BLCM +$0.50);
  • Precigen (PGEN +$0.43);
  • Vericel (VCEL +$0.34);

Monday’s (13 of 13) decliner:

  • Ultragenyx (RARE -$3.88 after Friday’s +$2.59);
  • Regenxbio (-$2.10 after Friday’s +$1.40);
  • Sage Therapeutics (SAGE -$1.48 after Friday’s -$7.13);
  • Editas Medicine (EDIT -$0.75 after Friday’s +$1.89);
  • Ionis Pharmaceuticals (IONS -$0.60);
  • Adverum Biotechnologies (ADVM -$0.51);
  • Voyager therapeutics (VYGR -$0.14);
  • Sangamo Therapeutics (SGMO -$0.13);
  • Intellia Therapeutics (NTLA -$0.11 after Friday’s +$3.52);
  • AxoGen (AXGN -$0.09);
  • Athersys (ATHX -$0.05);
  • Chinook therapeutics (KDNY -$0.02);
  • Biostage (BSTG -$0.01 after Friday’s -$0.04 – a zombie company);

Closing 1 -Stemline Therapeutics (STML – acquired)

 

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

  • Monday’s percentage (%) of the 21-upside were +0.04% (ALNY) to +15.67% (BCLM) while the 13- downside of -0.14% (KDNY) to -5.96% (RGNX);
  • Friday’s percentage (%) of the 30-upside were +0.13% (PGEN) to +17.06% (VSTM) while the 4-downside ranges from -1.79% (RENE.L) to -8.62% (SAGE);

 

Sentiment and a few daily indicators:

Sentiment took a hit after it was reported that the Trump administration is weighing blacklisting Chinese leading chipmaker SMIC as well as national offshore oil and gas producer CNOOC. The move would limit their access to American investors and escalate tensions with China before President-elect Biden takes over. <Reuters>

Also, Dr. Anthony Fauci, the nation’s top infectious disease expert, said on Sunday that the U.S. is heading into a tough period of the pandemic in which restrictions and travel advisories will be necessary.

Infection cases <Million>:

  • Monday 13.38 M cases
  • Friday 12.89 M cases

Monday’s death rate totaled 266,887 after Friday’s 263,525, Thursday was not recorded and Wednesday rate was 260,190, Tuesday’s 257,991 and last Monday’s 256,803. <Johns Hopkins University>

 

Stats:

Upside volume: 

  • Monday: 12 out of the 21-upside had higher than the 3-month average volume;
  • Friday: 3 out of the 30-upside had higher than the 3-month average volume;

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Monday was down -0.27 points or -1.30% at 20.57
  • Friday was down -0.41 points or -1.93% at 20.84

Downside volume:

  • Monday: 9 out of the 13-downside had higher than the 3-month average volume;
  • Friday: 1 out of the 4-downside had higher than the 3-month average volume;

 

November, the 2nd month of Q4 …

Monday (11/30) closed positive with 21 advancers, 13 decliners and 1 flat 

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

Thursday was a market holiday

Wednesday closed positive with 21 advancers, 10 decliners and 4 flats 

Tuesday closed positive with 17 advancers, 16 decliners and 2 flats 

Monday (11/23) closed positive with 17 advancers, 16 decliners and 2 flats 

Friday closed positive with 20 advancers, 13 decliners and 2 flats 

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

Wednesday closed negative with 7 advancers, 25 decliners and 3 flats 

Tuesday closed positive with 18 advancers, 15 decliners and 2 flats 

Monday (11/16) closed positive with 19 advancers, 15 decliners and 1 flat   

Friday closed positive with 22 advancers, 11 decliners and 1 flat 

Thursday closed negative with 15 advancers, 19 decliners and 1 flat 

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: Many are on the train headed downhill; some got off, some stayed on as mountain passes highs have been higher and the expectation was for deeper breathing and a coming down trend.

 

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.