December 4, 2020 5:37pm

As markets shook-off a disappointing U.S. jobs report hoping it will arouse fiscal stimulus measures

News: Fate Therapeutics (FATE) announced positive interim data from the dose escalation P1 study of FT516 in combination with rituximab for patients with relapsed / refractory B-cell lymphoma. Aftermarket indication: +$8.21 or +13.51%

Pre-open indication results: 5 HITs and 5 MISS

An “intelligence newspaper” for smart investing in the RegMed, gene and cell therapy sector.  I track the numbers, so there’s no question re my opinion; so, you can do what others can't.

The week in review …

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The Dow closed UP +248.74 points (+0.83%); the S&P closed UP +32.40 points (+0.88%) while the Nasdaq closed UP +87.05 points (+0.70%)

 

Henry’omics:

Indexed traded higher …

Friday’s jump left the major averages on track for their fourth weekly gain in five weeks. Week to date, the Dow is up 0.8%. The S&P 500 has risen 1.5% while the Nasdaq rallied 2.2%.

 

This a.m.’s Data Docket: The U.S. economy added 245,000 jobs in November. That’s well below a consensus estimate of 440,000. The unemployment rate, however, matched expectations by falling to 6.7% from 6.9%.

 

Pre-open indication: 5 HITs < BUY: Applied Genetic Technologies (AGTC +$0.02); Sell into strength: BioLife Solutions (BLFS +$2.39), Fate Therapeutics (FATE +$0.38), CRISP Therapeutics (CRSP +$7.37), Intellia Therapeutics (NTLA +$0.37) and 5 MISS < Global Blood Therapeutics (GBT -$0.05), Editas Medicine (EDIT +$1.26), Mesoblast (MESO +0.36), Sage Therapeutics (SAGE +$1.89)> <Pumped: Biostage (BSTG +$0.07 with 3,510 shares traded)>

 

This morning, I stated in this a.m.’s newsletter – RegMed Investors’ (RMi) pre-open: storm clouds are moving in. How many hits can momentum take -stimulus stalemate, Pfizer (PFE) supply chain issues, November’s jobs report and unemployment after Thursday’s market and sector ripple? … https://www.regmedinvestors.com/articles/11663

 

From this a.m.’s Data Docket: First-time claims for unemployment insurance totaled 712,000 last week, lower than an estimate of 780,000 from economists surveyed by Dow Jones. Jobless claims also reached a pandemic-era low as the labor market showed resilience even in the face of a worsening pandemic.

 

News (continued);

Fate Therapeutics (FATE) announced positive interim data from the dose escalation P1 study of FT516 in combination with rituximab for patients with relapsed / refractory B-cell lymphoma.

  • FT516 is the Company’s universal, off-the-shelf natural killer (NK) cell product candidate derived from a clonal master induced pluripotent stem cell (iPSC) line engineered with a novel high-affinity, non-cleavable CD16 (hnCD16) Fc receptor, which is designed to maximize antibody-dependent cellular cytotoxicity (ADCC), a potent anti-tumor mechanism by which NK cells recognize, bind and kill antibody-coated cancer cells.

 

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

  • Friday opened positive at 23/8 and 4 flats, stayed positive at the mid-day at 21/10 and 3 flats, closing positive at 25/9 and 2 flats;
  • Thursday opened positive at 23/10 and 2 flats, flipped negative at the mid-day at 14/17 and 4 flats, closing neutral at 16/16 and 3 flats;
  • Wednesday opened negative at 10/23 and 2 flats, flipped positive at the mid-day at 20/14 and 1 flat, closing positive at 20/14 and 1 flat;
  • Tuesday opened positive at 20/12 and 4 flats, stayed positive at the mid-day at 22/12 and 1 flats, closing positive at 20/15 and 1 flat;
  • 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;

 

Key metrics:

  • Sector volume was LOW with 9 of the 25-upside having higher than the 3-month average volume with the increased volume of 3 of 9-downside having higher than the 3-month average volume;
  • Friday’s percentage (%) of the 25-upside were +0.09% (BLUE) to +7.48% (KDNY) while the 9-downside ranges from -0.14% (GBT) to -4.90% (MDXG);

 

Hammered in today’s market:

  • Alnylam Pharmaceuticals (ALNY), Adverum Biotechnologies (ADVM), MiMedx (MDXG), bluebird bio (BLUE), Global Blood Therapeutics (GBT), uniQure NV (QURE), Verastem (VSTM), Precigen (PGEN), Regenxbio (RGNX) to name 9 of the 9 declining of the 35 covered

Jumping with share pricing momentum:  

  • CRSP Therapeutics (CRSP), Ultragenyx (RARE), BioLife Solutions (BLFS), Editas Medicine (EDIT), Sage Therapeutics (SAGE) to name 5 of the 25 inclining of the 35 covered

 

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

  • Friday, the IBB closed up +0.93% and XBI closed up +1.85%
  • Thursday, the IBB closed up +1% and XBI closed up +0.68%
  • Wednesday, the IBB closed down -0.23% and XBI closed down -0.09%
  • Tuesday, the IBB closed up +0.23% and XBI closed down -0.20%
  • Monday, the IBB closed up +0.35 % and XBI closed up +0.27%

 

Friday’s (10 of 25) incliners:

  • CRISPR Therapeutics (CRSP +$7.08 after Thursday’s +$8.92, Wednesday’s +$1.96, Tuesday’s +$2.66 and Monday’s +$5.370;
  • Ultragenyx (RARE +$4.39 after Thursday’s +$6.16, Wednesday’s +$0.60, Tuesday’s -$1.16 and Monday’s -$3.88
  • BioLife Solutions (BLFS +$2.35 after Thursday’s +$1.44);
  • Sage Therapeutics (SAGE +$1.89 after Thursday’s +$1.29, Wednesday’s +$4.07, Tuesday’s -$1.45 and Monday’s -$1.48);
  • Editas Medicine (EDIT +$11.26 after Thursday’s +$1.67, Wednesday’s -$0.34, Tuesday’s +$1.31 and Monday’s -$0.75);
  • Chinook Therapeutics (KDNY +$1.04);
  • AxoGen (AXGN +$0.72 after Thursday’s +$0.57 and Wednesday’s +$0.57);
  • Vericel (VCEL +$0.56 after Thursday’s -$0.31 and Wednesday’s -$0.94);
  • Intellia Therapeutics (NTLA +$0.52 after Thursday’s +$1.84, Wednesday’s +$2.98 after Tuesday’s -$1.17 and Monday’s -$0.11);
  • Fate Therapeutics (FATE +$0.37);

Friday’s (9 of 9) decliner:

  • Alnylam Pharmaceuticals (ALNY -$1.61 after Thursday’s +$1.70, Wednesday’s -$2.80 and Tuesday’s +$2.36);
  • Adverum Biotechnologies (ADVM -$0.55);
  • uniQure NV (QURE -$0.40 after Thursday’s -$0.18, Wednesday’s +$0.94, Tuesday’s +$1.65 and Monday’s -$1.01);
  • MiMedx (MDXG-$0.34 after Thursday’s -$0.15);
  • Verastem (VSTM -$0.08);
  • bluebird bio (BLUE -$0.06 after Thursday’s +$0.79);
  • Global Blood Therapeutics (GBT -$0.05 after Thursday’s -$0.88, Wednesday’s -$3.40, Tuesday’s +$2.27 and Monday’s +$1.05);
  • Regenxbio (RGNX -$0.04);
  • Precigen (PGEN -$0.01);

Closing – 1 – ReNeuron (REN.L) and 1 -Stemline Therapeutics (STML – acquired)

 

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

  • Friday’s percentage (%) of the 24-upside were +0.09% (BLUE) to +7.48% (KDNY) while the 8-downside ranges from -0.14% (GBT) to -4.90% (MDXG);
  • Thursday’s percentage (%) of the 16-upside were +0.37% (BCLI) to +9.86% (CLLS) while the 16-downside ranges from -0.18% (FATE) to -8.09% (CLBS);
  • Wednesday’s percentage (%) of the 20-upside were +0.15% (MDXG) to +15.33% (CLBS) while the 14-downside ranges from -0.51% (FIXX) to -7.06% (GBT);
  • Tuesday’s percentage (%) of the 20-upside were +0.20% (MESO) to +8.56% (AGTC) while the 15-downside ranges from -0.09% (BCLI) to -12.47% (BLCM);
  • 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);

 

Sentiment and a few daily indicators:

The U.S. economy added 245,000 jobs in November. That’s well below a consensus estimate of 440,000. The unemployment rate, however, matched expectations by falling to 6.7% from 6.9%. <CNBC>

Infection cases <Million>:

  • Friday 14.24 M cases
  • Thursday 13.94 M cases
  • Wednesday 13.75 M cases
  • Tuesday 13.54 M cases
  • Monday 13.38 M cases

Friday’s death rate totaled 227,639 after Thursday’s 273,920, Wednesday’s 271,064, Tuesday’s 268,129, Monday’s 266,887 and last Friday’s 263,525. <Johns Hopkins University>

 

Stats:

Upside volume: 

  • Friday: 9 out of the 25-upside had higher than the 3-month average volume;
  • Thursday: 8 out of the 16-upside had higher than the 3-month average volume;
  • Wednesday: 9 out of the 20-upside had higher than the 3-month average volume;
  • Tuesday: 10 out of the 20-upside had higher than the 3-month average volume;
  • Monday: 12 out of the 21-upside had higher than the 3-month average volume;

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Friday was down -0.49 points or -2.30% at 20.79
  • Thursday was up +0.11 points or +0.52% at 21.28
  • Wednesday was up +0.40 points or +1.93% at 21.17
  • Tuesday was up +0.20 points or +0.97% at 20.77
  • Monday was down -0.27 points or -1.30% at 20.57

Downside volume:

  • Friday: 3 out of the 9-downside had higher than the 3-month average volume;
  • Thursday: 8 out of the 16-downside had higher than the 3-month average volume;
  • Wednesday: 5 out of the 14-downside had higher than the 3-month average volume;
  • Tuesday: 5 out of the 15-downside had higher than the 3-month average volume;
  • Monday: 9 out of the 13-downside had higher than the 3-month average volume;

 

December, the 3rd month of Q4 …

Friday closed positive with 25 advancers, 9 decliners and 2 flats 

Thursday closed neutral with 16 advancers, 16 decliners and 3 flats 

Wednesday closed positive with 20 advancers, 14 decliners and 1 flat 

Tuesday (12/1) closed positive with 20 advancers, 15 decliners and 1 flat 

 

The Bottom Line: the week is over having expected the worst however, thankful that momentum was stroked like a fire!

As some investors saw the weaker-than-expected number as a positive because it could pressure lawmakers to move forward with additional fiscal stimulus.

 

 

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.