February 23, 2021 5:13pm

Based on continuing weakness, pricing elasticities and badly conceived price targets

Pre-open indication results: 7 HITs and 0 MISS

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The Dow closed UP +14.87 points (+0.05 %); the S&P closed UP +4.87 points (+0.13%) while the Nasdaq closed DOWN -67.85 points (-0.50%)


Henry’omics - more than a snapshot of today’s sector movements:

Indexes were mixed again on Tuesday after a mixed Monday…

  • The Dow wiped out a 360-point loss and traded about 100 points higher, the S&P 500 rose +0.2% after falling as much as 1.8% while the Nasdaq slipped -0.1%, paring a -3.9% loss earlier.
  • “Stocks bounced off their lows after Fed Chair Powell said in his testimony to Congress that inflation is still “soft” and the economic outlook is still “highly uncertain,” easing fears of a policy change by the central bank.” <CNBC>

At the low today, XBI has had a -18% drop in 2 weeks while the Nasdaq, which slid 2.5% on Monday, is down about 4% so far this week.

  • Small caps also came under pressure with the Russell 2000 dropping -0.06% Tuesday, paring its February gained to 8%.


A reasoning note: Shares of Editas Medicine (EDIT) are down -$4.65, Ionis Pharmaceuticals (IONS -$0.23), Vericel (VCEL -$1.66), Sangamo Therapeutics (SGMO) -$0.24 and an exception Global Blood Therapeutics (GBT +$0.08) as earnings’ LPS (loss-per-share) releases are DUE for Q4 and FY20 tomorrow or could it be investors are likely still a little spooked?


Data Docket: The 10-year Treasury yield, which has risen steadily since the start of 2021, held steady on Tuesday around 1.36%. So far this month, the benchmark rate has moved up hefty 28 basis points. The 30-year yield touched a one-year high of 2.2% Monday. A basis point is 0.01%.


RegMed Investors’ (RMi) pre-open: “"Sunrise, sunset, swiftly flow the days. No “Fiddler on the Roof” yet today, Fed Chair Powell begins his two day’s comments setting the tune for/on markets and resulting outlook to the sector.’ … https://www.regmedinvestors.com/articles/11782


Pre-open indication results:  7 HITs < SELL: Biostage (BSTG -$0.20 with 4,062 of “pumped” shares traded to keep it up); BUY: AxoGen (AXGN +$0.21); SELL:  Alnylam Pharmaceuticals (ALNY +$5.14), bluebird bio (BLUE -$0.45), Fate Therapeutics (FATE -$5.48), Sage Therapeutics (SAGE -$0.85), Global Blood Therapeutics (GBT -$0.44)> and 0 MISS


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

  • Tuesday opened negative at 4/30 and 1 acquired, stayed negative at the mid-day to 6/28 and 1 acquired, closing negative at 8/26 and 1 acquired;


There are clear winners — and losers — heading into the second month and Q1 of 2021.

Jumping with share pricing momentum:

  • Alnylam Pharmaceuticals (ALNY), Solid Biosciences (SLDB), AxoGen (AXGN), ReNeuron (RENE.L), Adverum Biotechnologies (ADVM), Sage Therapeutics (SAGE), BioLife Solutions (BLFS), Precigen (PGEN), Ionis Pharmaceuticals (IONS) to name 8 of the 8 inclining of the 35 covered

Hammered in today’s market:

  • Ultragenyx (RARE), CRISPR Therapeutics (CRSP), Fate Therapeutics (FATE), Editas Medicine (EDIT), Intellia Therapeutics (NTLA) to name 5 of the 26 declining of the 35 covered


Key metrics:

  • Sector volume was LOW with 4 of the 8-upside having higher than the 3-month average volume with the increased volume of 15 of 26-downside having higher than the 3-month average volume;
  • Tuesday’s percentage (%) of the 8-upside were +0.20% (IONS) to +41.78% (SLDB) while the 26-downside ranges from -0.33% (QURE) to -16.14% (CLBS);


Tuesday’s (8 of 8) incliners:

  • Alnylam Pharmaceuticals (ALNY +$5.14 after Monday’s -$4.73);
  • Solid Biosciences (SLDB +$2.87);
  • Adverum Biotechnologies (ADVM +$0.83);
  • ReNeuron (RENE.L +$0.50 after Monday’s -$7.50);
  • AxoGen (AXGN +$0.21);
  • Ionis Pharmaceuticals (IONS +$0.11);
  • BioLife Solutions (BLFS +$0.09);
  • Precigen (PGEN +$0.05);

Tuesday’s (10 of 26) decliners:

  • Fate Therapeutics (FATE -$5.48 after Monday’s -$9.22);
  • Ultragenyx (RARE -$4.47 after Monday’s -$3.45);
  • Editas Medicine (EDIT -$3.26 after Monday’s -$4.07);
  • CRISPR Therapeutics (CRSP -$2.59 after Monday’s -$10.42);
  • Intellia Therapeutics (NTLA -$1.79 after Monday’s -$6.21);
  • Cellectis SA (CLLS -$1.32);
  • Vericel (VCEL -$1.07 after Monday’s -$2.96);
  • Sage therapeutics (SAGE -$0.85);
  • Applied Genetic Technologies (AGTC -$0.83);
  • Regenxbio (RGNX -$0.62 after Monday’s -$2.52);

Closing 1 – Stemline Therapeutics (STML – acquired)


Sentiment and COVID-19 infections:

  • Over half a million people have died in the United States due to Covid-19, more than any other country. The pace of new deaths in the U.S. appears to be trending lower but is still high.

Infection cases <Million>: never to forget …

  • Tuesday 28.19 M cases,
  • Tuesday’s death rate totaled 500,441 <Johns Hopkins University>



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

  • Tuesday, the IBB closed down -1.40% and XBI closed down -2.24%

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Tuesday was up +0.34 points or +1.45% at 23.11

Upside volume: low

  • Tuesday: 4 out of the 8-upside had higher than the 3-month average volume;

Downside volume: low

  • Tuesday: 15 out of the 26-downside had higher than the 3-month average volume;

Percentage (%) movement/range statistics: % and pricing drop

  • Tuesday’s percentage (%) of the 8-upside were +0.20% (IONS) to +41.78% (SLDB) while the 26-downside ranges from -0.33% (QURE) to -16.14% (CLBS);


February, the 2nd month of Q1 … the final week:

Tuesday closed negative with 8 advancers, 26 decliners and 1 acquired

Monday (2/22) closed negative with 7 advancers, 27 decliners and 1 acquired


The BOTTOM LINE: As I stated this a.m., “Again, “forewarned … earnings LPS (loss-per-share) season is upon us – my advice, trim and skim … if one can!”

It’s STILL all about, the “bouncing ball” of sector momentum … as earnings' seson interups ...


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.