March 10, 2021 8:06am
A little bit of both, don’t be swayed by optimism or even expectation, a storm is coming – lessen exposure to risk indications
Pre-open indications: 2 BUYs and 9 SELLs
News: Intellia Therapeutics (NTLA) presented pre-clinical data establishing proof-of-concept for non-viral genome editing of bone marrow and hematopoietic stem cells (HSCs) in mice. This represents the first demonstration of systemic in vivo genome editing in tissue outside the liver using its proprietary non-viral delivery platform.
Companies mentioned this a.m.: SELL: BSTG, AGTC, ATHX, CLLS, CRSP, EDIT, GBT & QURE; BUY: BLUE & NTLA
RMi’s daily report may say little or a lot; yet it serves as insurance that all indications are being examined and evaluated.
Dow futures are UP +0.56% (+1178 points), S&P futures are UP +0.59% (+23 points) and NASDAQ futures are UP +1.38% (+177 points)
Futures were stuck in the mud of bond yields and fiscal aid/stimulus pandering,
European stocks were mixed and struggling while the pan-European Stoxx 600 hovered around the flatline,
Asia-Pacific markets lost momentum as major indexes in Australia, Japan and South Korea struggled to hold onto earlier gains.
Data Docket: February’s consumer price index is slated for release at 8:30 a.m. ET and is expected to rise 0.4% in February, or up 1.7% from a year ago, according to economists surveyed compared to a 0.3% increase in January, and a 1.4% rise on an annual basis.
- Investors will also be watching the 10-year Treasury auction of $38 billion in notes at 1 p.m. ET for clues into the next direction for rates.
U.S. stock futures slipped early Wednesday, following a sharp rebound in cell and gene therapy equities the previous session amid falling bond yields.
On Tuesday, the Nasdaq climbed 3.7% to post its best day since November …
- “Let’s not forget that less than a year ago traders interpreted one of the biggest negative macro events in market history as a buying opportunity, so there’s little reason to think otherwise given all the positive signals around us today.” < Chris Larkin, managing director of trading and investing product at E-Trade Financial>
Tuesday’s evening’s recap: “the sector, our universe of cell and gene therapy strengthened” … https://www.regmedinvestors.com/articles/11803
- The Nasdaq closed UP +464.66 points (+3.69%);
- The IBB closed up +2.94% and XBI closed up +4.65%
- Sector volume was LOW with 7 of the 30-upside having higher than the 3-month average volume with the volume of 2 of 4-downside having higher than the 3-month average volume;
- The CBOE Volatility Index (VVIX: INDEX) was down -1.44 points or -5.65% at 24.03;
- Tuesday’s percentage (%) of the 30-upside were +0.92% (MESO) to +22.64% (NTLA) while the 4-downside ranges from -0.68% (ALNY) to -9.73% (MDXG);
March: 3 positive, 4 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 -$0.10 to $1.50 with 1,254 shares traded after Monday’s -$0.03 to $1.60 with 6,196 shares traded (pumped re promoted”) after being flat Friday with 217 shares traded, Thursday’s 2,083 shares being traded and last Wednesday’s being flat at $1.63 with 32 shares traded. Reiterating
Question#1: About WHO, are the reasons of WHY have all these posts of questions been asked by PUBLIC shareholders and NEVER been answered emanated from – Who terminated WITHOUT CAUSE the TURNAROUND team that focused the IND, questioned the “shadow” operations of the company, probed the financial structures of GIFT and research support expenditures, queried the shareholdings of research providers and investigators, enquired about the lease status (which could have been dramatically reduced) and ultimately investigated the cost structure of operations in addition to the financing and the “ODD” control of company of WHO was really calling the “shots” at BSTG?
Question#2: WHY and for WHAT reasons did this individual hope to perpetrate these conditions UPON U.S. public shareholders especially in relation to “misplacing or losing” many accounts payable and accrued and other current “liabilities”?
Question#3: Also, WHO and WHERE is the financial officer or principal accounting officer of the company – still NOT recruited as the Q4 and FY20: 8-K and 10-Q are due? JUST WHAT is RSM US LLP auditing?
Question#4: Don’t these questions of issues put MORE governmental, fiduciary and transparency responsibility on the new board and audit committee member, Herman Sanchez and RSM US LLP as to the potentials or the possibilities of SEC investigation(s)?
MINORITY PUBLIC shareholders are waiting, watching and weighting responses to MAINTAIN their RIGHTS.
SELL into Strength from BUY:
Applied Genetic Technologies (AGTC) closed up +$0.52 to $5.18 after Monday’s -$0.22 to $4.66, Friday’s -$0.18 to $4.88, Thursday’s $5.06 and last Wednesday’s $5.42 with a positive +$0.22 or +4.25% pre-market indication.
Athersys (ATHX) closed up +$0.08 to $1.91 after Monday’s $1.83 with a negative +$0.06 or +3.14% aftermarket indication. I prognosticate, “there is another shoe to drop”.
Cellectis SA (CLLS) closed up +$3.37 to $21.65 after Monday’s +$0.09 to $18.28, Friday’s $18.19 and last Thursday’s earnings’ release with a negative -$0.54 or -2.49% pre-market indication.
Fate Therapeutics (FATE) closed up +$9.36 to $88.52 after Monday’s -$4.49 to $79.16 after Friday’s $83.65 with a positive +$0.01 or +0.01% pre-market indication.
Global Blood Therapeutics (GBT) closed up +$2.89 to $41.83 after Monday’s -$2.02 to $38.94 and Friday’s $40.96 with a positive +0.68 or +1.63% pre-market indication.
uniQure NV (QURE) closed up +$1.18 to $33.13 after Monday’s $31.95 and Friday’s $32.48 with a negative -$0.12 or -0.36% aftermarket indication.
CRISPR Therapeutics (CRSP) closed up +$12.03 to $125.63 after Monday’s -$1.03 to $113.62 after Friday’s -$0.84 to $114.65 with a positive +$1.06 or +0.84% pre-market indication.
Editas Medicine (EDIT) closed up +$4.79 to $45.33 after Monday’s -$1.09 to $40.54, Friday’s +$1.27 to $41.63 and Thursday’s -$2.77 to $40.36 with a positive +$0.67 or +1.48% pre-market indication
bluebird bio (BLUE) closed up +$1.79 to $30.04 after Monday’s -$0.43 to $28.25 after Friday’s up +$0.74 to $28.68 and Thursday’s -$1.40 to $27.94 with a positive +$3.56 or +11.52% pre-market indication.
Intellia Therapeutics (NTLA) closed up +$10.55 to $57.14 after Monday’s -$5.22 to $46.59, Friday’s -$2.61 to $51.81 and Thursday’s -$3.29 to $54.42 with a positive +$1.46 or +2.56% pre-market indication. Continued from news in title, “Gene editing of HSCs in vivo via a non-viral delivery system offers the potential to transform the treatment of sickle cell disease (SCD) and other inherited blood disorders by overcoming the complexity and safety risks of ex vivo approaches.”
The BOTTOM LINE: I espouse “Selling into Strength” as there exists a tug-of-war taking place in the sector as investors wade through volatile trading.
It is said that, inflation and rising rates would likely remain a central theme for investors this year; my concern is where are the new buyers of cell and gene therapy coming from as many have suffered from the multiple downside rotations that … seem to return pricing levels.
But, for how long …
I STILL am a “beware or the cautious man” whose focus has always been “warning analysis” … earnings’ season is NOT over … my advice, trim and skim … if one can!”
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.