March 17, 2021 7:57am
Whether we like it or not, there’s is a short-term focus to the sector
Pre-open indications: 4 BUYs and 5 SELLs; Mentioned: BSTG, BLUE, GBT, IONS, SGMO, NTLA, SAGE, CRSP, EDIT
News: Sage Therapeutics (SAGE) today reported complete 12-month data from the 30 mg cohort and interim data from the 50 mg cohort of the ongoing P3 open-label SHORELINE Study.
RMi’s daily report is a primer that may say little or a lot; yet it serves as insurance that all indications are being examined and evaluated.
Dow futures are UP +0.03% (+9 points), S&P futures are DOWN -0.35% (-14 points) and NASDAQ futures are DOWN -1.11% (-149 points)
U.S. stock futures are ‘flittering” up (Dow) and down (S&P and Nasdaq) on Wednesday
European stocks were slightly lower, waiting for U.S. monetary indications
Asia-Pacific markets traded mixed as even they wait for the outcome of the U.S. Fed’s two-day policy meeting
Data Docket: The Fed delivers its verdict upon release new economic and interest rate forecasts, which could indicate Fed officials expect to raise rates by, or even before, 2023.
- Mortgage refinance demand tanks 39% as rates continue to climb
Henry’omics:
A strong vaccine rollout and the easing of state lockdown restrictions have also boosted some stocks who then get stripped of their upside.
The Federal Reserve concludes its two-day policy meeting Wednesday, with expectations for no change in interest rates.
- The challenge for Powell will be to explain his pious opinion to investors that will or will not mitigate changes to the current Fed policy?
- A rising economy, boiling inflation and a rip-snorting stock market don’t seem to make much of a recipe for easy monetary policy.
Tuesday’s evening’s recap: “sector retreats on low volume compressing yesterday’s gusto; Waiting for the Fed, whatever the Fed chair says, it will move markets; just a question of direction” … https://www.regmedinvestors.com/articles/11817
- The Nasdaq closed UP +11.86 points (+0.09%);
- the IBB closed up +0.02% and XBI closed down -1.57%;
- Sector volume was LOW with 1 of the 4-upside having higher than the 3-month average volume with the volume of 3 of 30-downside having higher than the 3-month average volume;
- The CBOE Volatility Index (VVIX: INDEX) was down -0.24 points or -1.20% at 19.79;
- Tuesday’s percentage (%) of the 4-upside were +0.92% (CLLS) to +8.82% (RENE.L) while the 30-downside ranges from -0.01% (RARE) to -32.39% (SLDB);
March: 5 positive, 6 negative and 1 neutral 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 up +$0.02 to $1.30 with 210 shares traded after Monday’s +$0.02 to $1.28 with 425 shares traded, Friday’s -$0.11 to $1.26 with 4,069 shares traded i.e., “pumped”, Thursday’s -$0.13 to 41.37 with 1,153 shares traded and last Wednesday’s -$0.10 to $1.50 with 1,500 shares traded.
Question#1: WHEN will the clinical trial begin, “the IND was approved for the Cellspan Esophageal Implant (CEI) to treat patients with end-stage esophageal disease that require a segmental surgical resection to repair the diseased tissue. The FDA notified the Company that it removed the clinical hold and that the Company may proceed with its study” … on 3/20/20 – one (1) year ago.
Question#2: WHY hasn’t William Fodor, PhD, the Chief Scientific Officer fulfilled his responsibilities to the company and to PUBLIC SHAREHOLDERS? A year ago, a press release STATED “FDA approval enables … to start “our” transition to a clinical-stage biotechnology company, and start clinical planning, including engaging with a clinical research organization and site readiness in advance of starting the clinical trial for our CEI product candidate.”
Question#3: RSM US LLP, WHAT is your opinion of these operational issues and focus?
MINORITY PUBLIC shareholders are waiting, watching and weighting responses to MAINTAIN their RIGHTS.
Falling Knife:
bluebird bio (BLUE) closed down -$0.86 to $32.39 with a negative -$0.39 or -1.20% aftermarket indication.
CRISPR Therapeutics (CRSP) closed up +$3.03 to $130.57 after Monday’s +$2.99 to $133.60, Friday’s -$3.27 to $130.61, Thursday’s +$9.73 to $133.88 and last Wednesday’s -$1.48 to $124.15 with a negative -$3.077 or -2.35% pre-market indication.
Editas Medicine (EDIT) closed down -$2.30 to $45.67 after Monday’s +$1.69 to $47.97, Friday’s -$1.04 to $46.28, Thursday’s +$0.66 to $47.32 and last Wednesday’s $46.66, with a negative -$1.17 or -2.56% pre-market indication.
Ionis Pharmaceuticals (IONS) closed down -$0.32 to $54.30 after Monday’s $54.62, Friday’s $52.99, Thursday’s $53.40 and last Wednesday’s $51.78 with a negative -$0.29 or -0.53% aftermarket indication.
BUY:
Global Blood Therapeutics (GBT) closed down -$1.78 to $44.23 after Monday’s $46.01, Friday’s $44.02, Thursday’s $42.90 and last Wednesday’s $41.52 with a positive +$0.77 or +1.74% aftermarket indication.
Sangamo Therapeutics (SGMO) closed down -$0.35 to $11.48 after Monday’s $11.83, Friday’s $11.54, Thursday’s $11.64 and last Wednesday’s $11.40 with a positive +$0.16 or +1.39% aftermarket indication.
Intellia Therapeutics (NTLA) closed down -$2.51 to $65.55 with a positive +$1.03 or +1.57% aftermarket indication.
Sage Therapeutics (SAGE) closed down -$2.84 to $76.48 and has a positive +$0.27 or +0.35% pre-market indication on news of reporting complete 12-month data from the 30 mg cohort and interim data from the 50 mg cohort of the ongoing Phase 3 open-label SHORELINE study.
The BOTTOM LINE: from the title, the “Waiting for Godot” is supposed to be about HOPE! Every now and then I think “something happens. markets rise, sector falls and investors come or go – like tourists. It's boring and I am led back to HOPE and possibly - definition. – my version of Samuel Beckett” and “Waiting for Godot
I see highs but, can’t count on those other than a short-term spurt through the mist of momentum and algorithmic rules; so, I mostly focus on selling into a few highs.
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.
