March 3, 2021 7:47am
Key word – trading, not investing. What’s down will usually be up the next session …
Pre-open indications: 3 BUY and 3 SELLs
News: Merck (MRK) will help J&J (JNJ) make vaccines
Companies mentioned: AGTC, BSTG, FATE, MDXG, PSTI, SAGE
What I provide is a trusted source of share pricing intelligence that ensures that investors are kept apprised of “our” universe, the RegMed/cell and gene therapy sector and its surrounding markets
Dow futures are UP +0.63% (+199 points), S&P futures are UP +0.53% (+21 points) and NASDAQ futures are UP +0.46% (+61 points)
U.S. stock futures were higher on Wednesday,
European stocks advanced with the pan-European Stoxx 600 climbing +0.5% in late morning trade,
Asia-Pacific stocks were higher, as a private survey showed slowing growth in China’s services sector activity last month while the MSCI’s index of Asia-Pacific shares outside Japan gained +1.68%.
Data Docket: Private payroll data for February is due at 8:15 a.m. This will give investors a read into the labor market. Economists expect 225,000 private jobs were added in February, higher than the 174,000 added in January.
Futures are predicting an "up" seesion but, I believe "slow moving" market ...
After Tuesday’s close gave back some of the cell and gene therapy sector’s sharp gains from Monday; get ready for some positive share pricing moves.
The Nasdaq dipped -1.7% while the small-cap benchmark Russell 2000 dropped -1.93%.
Coming attractions: earnings’ release, Thursday, 3/4 – Cellectis SA (CLLS) and Monday, 3/8 – MiMedx (MDXG)
Tuesday’s evening’s recap: “some say volatility has resurfaced, I had said it never left. Discomfort in the market reflects difficulty in identifying trends versus my prognostication of share pricing bending.” https://www.regmedinvestors.com/articles/11793
- The Nasdaq closed DOWN -230.04 points (-1.69%);
- The IBB closed down -2.05% and XBI closed down -3.13%;
- Sector volume was LOW with 4 of the 26-upside having higher than the 3-month average volume with the increased volume of 3 of 8-downside having higher than the 3-month average volume;
- The CBOE Volatility Index (VVIX: INDEX) was up +0.75 points or +3.21% at 24.10;
- Tuesday’s percentage (%) of the 8-upside were +0.75% (KDNY) to +25.82% (SLDB) while the 27-downside ranges from -0.37% (CRSP) to -8.78% (ADVM);
March: 1 positive, 1 negative closes
February: 9 positive, 10 negative closes and 1 holiday
January: 10 positive, 9 negative closes and 1 holiday
Companies in my headlights – It’s your decision; I provide an idea and context:
Maintaining Sell: Questions continue …
Biostage (BSTG) closed down again -$0.01 to $1.63 with 275 shares traded after Monday’s -$0.01 to $1.64 with 1,838 shares traded, Friday’s -$0.15 to $1.65 with 959 shares traded, Thursday’s -$0.00 to $1.80 with 3310 shares traded and last Wednesday’s -$0.00 with 0 shares traded. Reiterating …
Question#1: WHY is and WHERE is all the money from DST Capital going or even coming FROM – “to PROMOTE the public share price”? just think over the past months if those dollars were put into the company coffers, they wouldn’t be cutting back on employees’ salaries – also WHAT did they take PPP funds for or MAYBE a clinical trial would have been initiated?
Question#2: WHAT is the relationship of DST Capital beyond being BSTG’s investor as they are BOTH based in the same offices – together. WHY is Dixintong Technology Group in Beijing, China led by Donghai Lui defining BSTG’s path forward as Hong Yu, BSTG’s president reports to him through Jason Chen, BSTG’s chairman who also reports to Beijing while managing DST Capital, bottom-line his wife’s (Mrs. bin Zhao) money?
Question#3: WHY are there NO answers from BSTG and some actions to resolve these real issues? STILL NO finance professionals employed by company – HOW can RSM US LLP facilitate their AUDIT of financial and operational controls?
Sage Therapeutics (SAGE) closed down -$3.14 to $84.14 after Monday’s $87.28, Friday’s $85.00, Thursday’s $83.45 and last Wednesday’s $85.04 with a positive +$0.25 or +0.30% aftermarket indication
Pluristem (PSTI) closed down -$0.07 to $6.14 after Monday’s -$0.13 to $6.21, Friday’s $6.34, Thursday’s $6.31 and last Wednesday’s $6.74 with a positive +$0.27 or +4.40% pre-market indication.
Applied Genetic Technologies (AGTC) closed up +$0.30 to $4.81 after Monday’s +$0.43 to $5.51, Friday’s -$0.22 to $5.08, Thursday’s $5.30 and last Wednesday’s $5.65 with a positive +$0.14 or +2.54% pre-market indication after Stifel research initiation;
Sell into Strength from BUY:
MiMedx (MDXG) closed up +$0.49 to $11.16 after Monday’s +$0.76 to $10.67 and Friday’s $9.91 with a positive +$0.19 or +1.70% aftermarket indication.
Fate Therapeutics (FATE) closed down -$0.70 to $95.91 after Monday’s +$6.89 to $96.61, Friday’s $89.72, Thursday’s $86.27 and last Wednesday’s $95.27 with a negative -$0.99 or -1.03% pre-market indication.
The BOTTOM LINE: New highs gave me “goosebumps” …
I am a “beware Man” whose focus has always been “warning analysis” … earnings’ season is NOT over … my advice, trim and skim … if one can!”
If you want to BUY, consider those who have “reported” earnings … it’s STILL all about, the “bouncing ball” of sector momentum.
Also, an added hurdle, prospects of the next $1.9 trillion stimulus package tripped its way out of the House of Representatives; however, the U.S. Senate is set to begin debating the fiscal aid/stimulus/relief package – in WHAT format will it be approved after warring political parties “grind” the package and the market’s optimism?
Many talk of horizons; “as I have said last week, my horizon is usually a Friday’s close …”
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.