December 8, 2020 6:01pm

Profit-taking underscores share pricing, another I told you so …

Pre-open indication results: 4 HITs and 2 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 Dow closed UP +104.09 points (+0.35%); the S&P closed UP +10.29 points (+0.28 %) while the Nasdaq closed UP +62.83 points (+0.50%)

Henry’omics:

Indexes rose on Tuesday, clawing back small losses from earlier in the day, as Pfizer (PFE) started to roll out its coronavirus vaccine in the U.K.

 

Pre-open indication: 4 HITs <SELL: Biostage (BSTG -$0.00 to $1.35 with 721 shares traded), CRISP Therapeutics (CRSP -$3.25); Editas Medicine (EDIT +$4.13), uniQure NV (QURE +$0.25)> and 2 MISS <Applied Genetic Technologies (AGTC -$0.10); Global Blood Therapeutics (GBT -$0.43) – I’ll take my chances on these bottoms>

 

This morning, I stated in this a.m.’s newsletter – RegMed Investors’ (RMi) pre-open: declines stretch share pricing as uncertainty inclines; headlines are forecasting challenging health and economic timing … https://www.regmedinvestors.com/articles/11667

 

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

  • Tuesday opened negative at 15/18 and 2 flats, stayed negative at the mid-day at 15/17 and 3 flats, closing positive at 19/14 and 2 flats;
  • Monday opened positive at 25/9 and 1 flat, strayed negative at the mid-day at 13/20 and 2 flats, closing negative at 14/20 and 1 flat;

 

Key metrics:

  • Sector volume was LOW with 10 of the 19-upside having higher than the 3-month average volume with the increased volume of 10 of 14-downside having higher than the 3-month average volume;
  • Tuesday’s percentage (%) of the 19-upside were +0.17% (MDXG) to +10.58% (EDIT) while the 14-downside of -0.70% (CLLS) to -6.64% (BLFS);

 

Hammered in today’s market:

  • ReNeuron (RENE.L), CRSP Therapeutics (CRSP), BioLife Solutions (BLFS), Ionis Pharmaceuticals (IONS), Sage Therapeutics (SAGE) to name 5 of the 14 declining of the 35 covered

Jumping with share pricing momentum:  

  • Fate Therapeutics (FATE), Ultragenyx (RARE), Editas Medicine (EDIT), Alnylam Pharmaceuticals (ALNY), Regenxbio (RGNX) to name 5 of the 19 inclining of the 35 covered

 

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

  • Tuesday, the IBB closed up +1.77% and XBI closed up +1.93%
  • Monday, the IBB closed up +0.01% and XBI closed up +0.93%

 

Tuesday’s (10 of 19) incliners:

  • Fate Therapeutics (FATE +$7.83 after Monday’s +$22.98);
  • Ultragenyx (RARE +$7.75 after Monday’s +$1.40);
  • Editas Medicine (EDIT +$4.13 after Monday’s +$4.56);
  • Alnylam Pharmaceuticals (ALNY +$1.24 after Monday’s -$2.75);
  • Regenxbio (RGNX +$0.87 after Monday’s -$1.36);
  • Intellia Therapeutics (NTLA +$0.67 after Monday’s +$3.15);
  • Sangamo Therapeutics (SGMO +$0.40 after Monday’s -$0.71);
  • Precigen (PGEN +$0.31 after Monday’s -$0.38);
  • uniQure NV (QURE +$0.25 after Monday’s -$2.83);
  • Mesoblast (MESO +$0.25 after Monday’s +$0.44);

Tuesday’s (14 of 14) decliner:

  • ReNeuron (RENE.L -$4.50);
  • CRISPR Therapeutics (CRSP -$3,25 after Monday’s +$2.18);
  • BioLife Solutions (BLFS -$2.65 after Monday’s +$0.99);
  • Ionis Pharmaceuticals (IONS -$1.33 after Monday’s -$0.91);
  • Sage Therapeutics (SAGE -$1.17 after Monday’s +$0.27);
  • bluebird bio (BLUE -$1.00 after Monday’s -$1.52);
  • AxoGen (AXGN -$0.59 after Monday’s +$0.80);
  • Global Blood Therapeutics (GBT -$0.59 after Monday’s -$2.50);
  • Brainstorm Cell Therapeutics (BCLI -$0.36);
  • Homology Medicine (FIXX -$0.270;
  • Chinook Therapeutics (KDNY -$0.24 after Monday’s -$1.11);
  • Cellectis SA (CLLS -$0.21 after Monday’s +$0.75);
  • Voyager Therapeutics (VYGR -$0.12 after Monday’s +$0.07);
  • Applied Genetic Technologies (AGTC -$0.10);

Closing – 1 Biostage (BSTG) and 1– Stemline Therapeutics (STML – acquired)

 

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

  • Tuesday’s percentage (%) of the 19-upside were +0.17% (MDXG) to +10.58% (EDIT) while the 14-downside of -0.70% (CLLS) to -6.64% (BLFS);
  • Monday’s percentage (%) of the 14-upside were +0.38% (SAGE) to +37.80% (FATE) while the 20-downside of -0.07% (RENE.L) to -9.71% (BLCM);
  • 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);

 

Sentiment and a few daily indicators:

In the U.S., the FDA said the Pfizer (PFE) vaccine provides some protection after the first dose. The FDA also said it found no safety concerns with the vaccine.

However, negotiations for additional fiscal aid (not stimulus anymore) while coronavirus caseload continues to rise in the U.S.

Infection cases <Million>:

  • Tuesday 15.01 M cases
  • Monday 14.79 M cases
  • Friday 14.24 M cases

Tuesday’s death rate totaled 284,887 after Monday’s 282,522, Friday’s 227,639, Thursday’s 273,920, Wednesday’s 271,064 and Tuesday’s 268,129 <Johns Hopkins University>

 

Stats:

Upside volume: 

  • Tuesday: 10 out of the 19-upside had higher than the 3-month average volume;
  • Monday: 9 out of the 14-upside had higher than the 3-month average volume;
  • Friday: 9 out of the 25-upside had higher than the 3-month average volume;

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Tuesday was down -0.62 points or -2.91% at 20.68
  • Monday was up +0.51 points or +2.45% at 21.30
  • Friday was down -0.49 points or -2.30% at 20.79

Downside volume:

  • Tuesday: 10 out of the 14-downside had higher than the 3-month average volume;
  • Monday: 9 out of the 20-downside had higher than the 3-month average volume;
  • Friday: 3 out of the 9-downside had higher than the 3-month average volume;

 

December, the 3rd month of Q4 …

Tuesday closed positive with 19 advancers, 14 decliners and 2 flats 

Monday (12/7) closed negative with 14 advancers, 20 decliners and 1 flat 

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: As I stated this morning – “declines stretch share pricing as uncertainty inclines.”

The sector seemed to be treading water as the session moved to the close… while hopes of fiscal aide (formerly called stimulus) is stuck in the political party mud, - thank you - Speaker Nancy Pelosi (D – Ca) and Senator Chuck Schumer (D- NY).

Even Bernie Sanders (I- VT) complained of their rejection of past aid “deal”

Positive news has many interpretations … as we reinvigorate … UNCERTAINTY!

 

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.