March 18, 2021 6:21pm
Remember, a falling knife can quickly rebound - in what's known as a whipsaw If timed
Pre-open indication results: 4 HITs and 3 MISS
Numbers based facts speak better then opinion as I see answers in numbers to speak truth over opinion!
Who is defining the metrics for investors and keeping you notified of the sector and market fluctuations? What I provide is a trusted source of share pricing intelligence
The Dow closed DOWN -153.07 points (-0.46%); the S&P closed DOWN -58.66 points (-1.48%) while the Nasdaq closed DOWN -409.03 points (-3.02%)
Henry’omics:
The Dow dived, the S&P and Nasdaq dropped as the cell and gene therapy sector got slapped by downside sentiment and momentum.
- While, the Philadelphia Federal Reserve’s manufacturing index showed a reading of 51.8, well exceeding Dow Jones consensus of 22.0 and hitting the highest level for the gauge since 1973.
Data Docket: U.S. new weekly jobless claims unexpectedly rose last week even amid a wave of abating social distancing restrictions and improving weather. The Department of Labor released its weekly report on new jobless claims: week ended March 13: 770,000 versus 700,000 expected and an upwardly revised 725,000 during the prior week. Continuing claims, week ended March 6: 4.124 million vs. 4.034 million expected and 4.144 million during the prior week.
RegMed Investors’ (RMi) pre-open: “record highs scare me; the pre-market moves come after a late-day equity market pop during Fed Chair Powell’s remarks” … https://www.regmedinvestors.com/articles/11821
Pre-open indication results: 4 HITs < SELL: Alnylam Pharmaceuticals (ALNY -$5.11), CRISPR Therapeutics (CRSP -$7.53), Solid Biosciences (SLDB -$0.60); BUY: Sangamo Therapeutics (SGMO +$0.00) and 3 MISS < Applied Genetic Technologies (AGTC -$0.05), Biostage (BSTG +$0.02 with 375 shares), Editas Medicine (EDIT -$3.32)>
RegMed/Stem/Cell and Gene therapy’s 35 covered equities’ Advance/Decline (A/D) lines: progressions and regressions …
- Thursday opened negative at 5/28, 1 flat and 1 acquired, stayed negative at the mid-day to 9/25 and 1 acquired, closing negative at 4/29, 1 flat and 1 acquired;
There are clear winners and losers
Jumping with share pricing momentum:
- Vericel (VCEL), ReNeuron (RENE.L), Pluristem (PSTI), AxoGen (AXGN), Biostage (BSTG) to name 4 of the 4 inclining of the 35 covered
Hammered in today’s market:
- Ultragenyx (RARE), CRISPR Therapeutics (CRSP), Fate Therapeutics (FATE), Alnylam Pharmaceuticals (ALNY), Intellia therapeutics (NTLA), to name 5 of the 29 declining of the 35 covered
Key metrics:
- Sector volume was LOW with 2 of the 4-upside having higher than the 3-month average volume with the volume of 3 of 29-downside having higher than the 3-month average volume;
- Thursday’s percentage (%) of the 4-upside were +0.46% (RENE.L) to +13.45% (VCEL) while the 29-downside ranges from -0.38% (AXGN) to -9.20% (SLDB);
Thursday’s (4 of 4) incline
- Vericel (VCEL+$6.29 after Wednesday’s +$1.36 and Tuesday’s -$1.95);
- ReNeuron (RENE.L +$0.50 after Wednesday’s -$3.00, Tuesday’s +$9.00 and Monday’s +$1.00);
- Pluristem (PSTI +$0.19 after Wednesday’s -$0.03);
- Biostage (BSTG +$0.02);
Thursday’s (10 of 29) decliners:
- Ultragenyx (RARE -$8.89 after Wednesday’s -$0.38);
- CRISPR Therapeutics (CRSP -$7.53 after Wednesday’s +$0.53);
- Fate Therapeutics (FATE -$5.80 after Wednesday’s +$2.04, Tuesday’s -$3.04 and Monday’s -$1.22);
- Alnylam Pharmaceuticals (ALNY -$5.11 after Wednesday’s +$1.37, Tuesday’s -$2.34 and Monday’s +$3.92);
- Intellia Therapeutics (NTLA -$4.94 after Wednesday’s +$1.47, Tuesday’s -$2.51 and Monday’s +$2.54);
- Sage Therapeutics (SAGE -$3.91 after Wednesday’s +$2.50 and Tuesday’s -$2.84);
- Editas Medicine (EDIT -$3.32 after Wednesday’s +$0.90, Tuesday’s -$2.30 and Monday’s +$1.69);
- Regenxbio (RGNX -$1.93);
- uniQure NV (QURE -$1,90 after Wednesday’s +$1.46 and Tuesday’s +$0.43);
- Global Blood Therapeutics (GBT -$1.58);
Closing: 1 – Sangamo Therapeutics (SGMO) and 1 - Stemline Therapeutics (STML – acquired)
Sentiment and COVID-19 infections:
- More businesses are making plans to return their employees to the workplace as the rollout of Covid-19 vaccines slows the spread of the virus.
Infection cases <Million>: never to forget …
- Thursday 29.60 M cases,
- Thursday’s death rate totaled 538,124 <Johns Hopkins University>
Stats:
The iShares NASDAQ Biotechnology (IBB) and the SPDR S&P ETF (XBI) indicators:
- Thursday, the IBB closed down -3.10% and XBI closed down -4.77%
The CBOE Volatility Index (VVIX: INDEX) tracked:
- Thursday was up +2.35. points or +12.22% at 21.58
Upside volume: low
- Thursday: 2 out of the 4-upside had higher than the 3-month average volume;
Downside volume: low
- Thursday: 3 out of the 29-downside had higher than the 3-month average volume;
Percentage (%) movement/range statistics: % and pricing drop
- Thursday’s percentage (%) of the 4-upside were +0.46% (RENE.L) to +13.45% (VCEL) while the 29-downside ranges from -0.38% (AXGN) to -9.20% (SLDB);
March, the 3rd month of Q1/21:
Thursday closed negative with 4 advancers, 29 decliners, 1 flat and 1 acquired
The BOTTOM LINE: What has changed - sustainability is the real issue in “this” market!
However, markets are scary, frightening investors – volatilities’ basis is pure speculation.
NOT for me - I am STILL sending up a red flag on stock pricing until earnings’’ season completes its run.
As to earnings’ season: “Again, “forewarned … earnings LPS (loss-per-share) season is upon us – my advice has been … trim and skim … if one can!”
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.
