March 23, 2021 7:46am
Reiterating, let’s see what breaks as today’s market and sector appears vulnerable …
Pre-open indications: 1 BUY and 7 SELLs; Mentioned: BLFS, BSTG, ALNY, CRSP, EDIT, IONS, NTLA, QURE
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 DOWN -0.34% (-111 points), S&P futures are DOWN -0.27% (-11 points) and NASDAQ futures are UP +0.14% (+18 points)
U.S. stock index futures are mixed as the Nasdaq shows signs of an upside move on Tuesday,
European markets retreated as concerns over a third wave of Covid infections rattle investor sentiment,
Asia-Pacific markets slipped with Chinese search giant Baidu seeing a muted debut in Hong Kong.
Data Docket: Fed Chairman Jerome Powell and Treasury Secretary Janet Yellen will make their first joint appearance before the U.S. House Committee on Financial Services.
Tuesday marks the one-year anniversary of the market’s bottom as the coronavirus pandemic sent stocks tumbling 30% at the fastest pace on record.
At the market close, the Nasdaq gained 1.2%, the S&P 500 held a gain of 0.7%, while the Dow advanced 0.3%. Volume was trading lower on the Nasdaq and on the NYSE compared with the same time on Friday.
Since the intraday low on March 23 both the S&P 500 and Dow have advanced 80%; while the Nasdaq is up 93%, while the Russell 2000 has surged 135% but, was down yesterday -0.8%.
How many times when we see highs, we say BYE not buy …
Monday’s evening’s recap: “through the prism of an upside markets, some cell and gene therapy equities take a mulligan; although a knee-jerk response as a number of Friday’s upsiders slump” … https://www.regmedinvestors.com/articles/11826
- The Nasdaq closed UP +162.31 points (+1.23%);
- The IBB closed up +1.24% and XBI closed up +1.44%
- Sector volume had LOW with 4 of the 16-upside having higher than the 3-month average volume with the volume of 4 of 18-downside having higher than the 3-month average volume;
- The CBOE Volatility Index (VVIX: INDEX) was down -2.07 points or -9.88% at 18.88;
- Monday’s percentage (%) of the 16-upside were +0.24% (PGEN) to +7.73% (EDIT) while the 18-downside ranges from -0.01% (ALNY) to -3.27% (CLBS);
March: 7 positive, 8 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 +$0.05 to $1.50 with 2001 shares traded (“pumping and promoting” again?) after Friday’s +$0.13 to $1.45 with 605 shares traded, Thursday’s +$0.02 to $1.32 with 375 shares traded, Wednesday’s flat at $1.30 with 36 shares traded and last Tuesday’s +$0.02 to $1.30 with 210 shares traded.
Question#1: WHEN are the 10-K and 10-Q filings to be filed versus due?
Question#3: RSM US LLP, will their AUDIT “OPINION” be “COLARED” about the MANY operational issues lack of strategy and focus especially when they “seem” to be “pumping and promoting “the daily share price with stimulated volume”?
MINORITY PUBLIC shareholders are waiting, watching and weighting responses to MAINTAIN their RIGHTS.
BUY from SELL:
BioLife Solutions (BLFS) closed down -$0.19 to $38.57 with a positive +$7.51 or +19.47% after news of Q4 earnings’ loss and an all-stock merger with Stirling Ultracold, an Ohio-based manufacturer and provider of the most energy efficient, sustainable ultra-low temperature (ULT) biorepositories
Alnylam Pharmaceuticals (ALNY) closed down -$0.01 to $144.15 with a negative -$7.74 or -5.37% aftermarket indication.
Ionis Pharmaceuticals (IONS) closed up +$1.43 to $55.64 but, has a negative -$11.144 or -20.02% pre-market indication following dropping a Huntington's treatment late Monday after an independent committee questioned whether the drug's benefits outweigh its risks. The drug was being developed in partnership with Roche (RHHBY). While there were no new safety issues, the committee made the decision based on the drug's benefit/risk profile in the Phase 3 test, Ionis said in a news release. Researchers will continue to follow participants for safety and clinical results.
SELL into Strength:
CRISPR Therapeutics (CRSP) closed up +$3.39 to $133.00 after Friday’s +$6.04 to $129.61, Thursday’s -$7.53 to $123.57, Wednesday’s +$0.53 to $131.10 and last Tuesday’s +$3.03 to $130.57 with a negative -$0.22 or -0.17% pre-market indication.
Editas Medicine (EDIT) closed up +$3.48 to $48.48 after Friday’s $45.00, Thursday’s $43.25, Wednesday’s $46.57 and last Tuesday’s $45.67 with a negative -$1.18 or -2.43% pre-market indication.
Intellia Therapeutics (NTLA) closed up +$2.68 to $68.38, after Friday’s $65.70, Thursday’s $62.08, Wednesday’s $67.02 and last Tuesday’s $65.55 with a negative -$0.38 or -0.56% aftermarket indication
uniQure NV (QURE) closed up +$1.23 to $34.63 after Friday’s $33.40, Thursday’s $32.67, Wednesday’s $34.57 and last Tuesday’s $33.41 with a negative -$1.40 or -4.04% aftermarket indication
The BOTTOM LINE: 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 of ANY new highs … 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.