January 21, 2021 8:15am
As markets set sector’s share pricing
Pre-open indication: 7 SELLs and 4 BUYs
News: Editas Medicine (EDIT) prices offering of 3,500,000 shares at a price of $66.00 per share
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Dow futures are DOWN -0.08% (-24 points), S&P futures are DOWN -0.01% (-0.25 points) and NASDAQ futures are UP +0.18% (+24 points)
U.S. stock futures were slow in responding in early morning trading on Thursday,
European markets are up and prepared for the latest rate decision from the European Central Bank although no major moves are expected with the pan-European Stoxx 600 climbing +0.5%,
Asia-Pacific markets rose on U.S. political moves with the MSCI index (of Asia-Pacific shares outside Japan) rising +0.79%.
Data docket: weekly report on new jobless claims came at 8:30 a.m. ET: Jobless claims for the week ended Jan. 16 totaled 900,000 vs. the estimate of 925,000. The total was below the previous week’s count of 926,000, which was revised lower by 39,000.
I see weakness, a lack of support and resistance ...
U.S. equities rose to record highs on Wednesday while the sector tanked and the S&P 500 climbed 1.4%, followed by the Nasdaq surging +1.97% even as the small cap benchmark Russell 2000 popped +0.44% as the IBB closed up +0.10% and XBI closed down -0.06%.
Wednesday’s evening’s recap: RegMed Investors’ (RMi) closing bell: “on what news is moving “our” sector downward? Investors hope that the “coming” $1.9 trillion Covid-19 aid plan will stimulate economic recovery.” … https://www.regmedinvestors.com/articles/11729
- The Nasdaq closed UP +260.07 points (+1.97%);
- The IBB closed up +0.10% and XBI closed down -0.06%;
- Sector volume was LOW with 5 of the 16-upside having higher than the 3-month average volume with the increased volume of 6 of 18-downside having higher than the 3-month average volume;
- The CBOE Volatility Index (VVIX: INDEX) was down -1.66 points or -7.14% at 21.58;
- Wednesday’s percentage (%) of the 16-upside were +0.25% (PSTI) to +77.30% (CLBS) while the 18-downside ranges from -0.17% (SLDB) to-10.20% (VSTM);
- 8 positive, 4 negative closes and 1 holiday, so far
Companies in my headlights – It’s your decision; I provide an idea and context:
Biostage (BSTG) closed up +$0.01 to $1.42 with 1,277 shares traded after Tuesday’s +$0.06 to $1.22 with 8,637 shares traded. Reiterating the WHY bottom-line questions:
- Question#1: WHAT’s and WHY the “push” to “pump” the share pricing; is it related to exercise of the warrants (warrants exercisable for an aggregate of 122,554 shares of common stock) still outstanding
- Question#2: Is it a good time to SELL if “holding” before another huge increase in outstanding shares based on private placements?
- Question#3: Don’t U.S. public shareholders deserve accountability; DST capital resides in BSTG’s building space, WHAT does or WILL RSM US LLP do to “correlate” the “cozy” relationship?
- Questions#4: WILL the coming RSM US LLP’s audit review and define the inter (between) and intra (within or inside) relationship of DST Capital for legality? It’s still a question of connectivity with Dixintong Technology Group in China?
SELL on offering pricing:
Editas Medicine (EDIT) closed down -$0.35 to $71.76 and has a negative -$0.75 or -1.06% pre-open indication after pricing the 3.5 million shares offering at $66.00,
SELL into Strength:
Intellia therapeutics (NTLA) closed up +$1.79 to $93.68 after Friday’s $81.89, Thursday’s $83.30, Wednesday’s $76.01 and last Tuesday’s $75.69 with a positive +$1.22 or +1.46% aftermarket indication
Maintaining BUY and Bounce Back:
bluebird bio (BLUE) closed down -$1.02 to $49.51 after Friday’s $50.53, Thursday’s $51.85, Wednesday’s $49.49 and last Tuesday’s $52.33 with a positive +$0.49 or -0.99% aftermarket indication;
CRISPR Therapeutics (CRSP) closed down -$8.52 to $189.77 after Tuesday’s -$1.59 to $198.29, Friday’s $199.88 and last Thursday’s $210.04, with a positive +$0.73 or +0.38% aftermarket indication;
Fate Therapeutics (FATE) closed down -$5.30 to $109.01 after Tuesday’s +$0.72 to $114.31, Friday’s -$3.81 to $113.59 and last Thursday’s $117.40, with a positive +$3.94 or +3.61% aftermarket indication;
Global Blood Therapeutics (GBT) closed down -$2.59 to $48.26 after Tuesday’s $50.85 (+$0.93), Friday’s $49.92 and last Thursday’s $49.04 with a barely +$0.04 or +0.08% aftermarket indication;
Pluristem (PSTI) closed up +$0.02 to $7.89 after Tuesday’s -$0.17 to $7.87, Friday’s -$0.10 to $8.04 and last Thursday’s $8.14, with a positive +$0.14 or +1.77% aftermarket indication;
SELL into Strength:
Caladrius Biosciences (CLBS) closed up +$1.26 or +77.30% to $2.89 after Tuesday’s $1.63, Friday’s $1.57 and last Thursday’s $1.56 with a negative -$0.04 or -1.38% aftermarket indication;
Homology Medicine (FIXX) closed up +$0.25 to $13.48 after Tuesday’s +$0.29 to $13.23, Friday’s $12.94 and last Thursday’s $13.17 with a positive +$0.02 or +0.15% aftermarket indication;
Ionis Pharmaceuticals (IONS) closed up +$1.51 to $62.54 after Tuesday’s -$0.25 to $61.03, Friday’s $61.28 and last Thursday’s $61.35 with NO aftermarket indication;
Mesoblast (MESO) closed up +$0.06 to $9.51 after Tuesday’s -$0.27 to $9.45, Friday’s -$0.11 to $9.72 and last Thursday’s $9.83 with a negative -$0.13 or -1.37% aftermarket (Friday) indication;
The BOTTOM LINE: Bounce back BUYs are needed … especially since Wednesday might have less to do with the inauguration than it does with earning’s season about to begin and with investors taking advantage of recent performance to lighten-up on appreciators.
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.