April 8, 2021 5:54pm
When you’re on a roller coaster, the only thing you can be sure of is you’ll end up back where you started
Pre-open indication results: 8 HIT and 2 Miss
The sector is what it is, until it isn’t and even then, it doesn’t seem to be …
I say today what others won't, so you can do what others can't whether information or intelligence is good, bad or somewhere in between; I put into context what is relevant and useful for investors
Where are the canaries in the sector coal mine, am I the only one?
The Dow closed UP +57.31 points (+0.17%); the S&P closed UP +17.22 points (+0.42%) while the Nasdaq closed UP +140.47 points (+1.03%)
Indexes rose with the S&P hitting another record high on Thursday amid a strong rally in major technology stocks while “our’ universe of cell and gene therapy equities also ran the table with winners.
Data Docket: Investors processed a worse-than-expected reading on the latest weekly jobless claims. A total of 744,000 Americans filed for unemployment benefits for the first time during the week ended April 3, the Labor Department said Thursday. Economists expected first-time claims to total 694,000. <CNBC>
RegMed Investors’ (RMi) pre-open: “how now brown cow? Is an old-fashioned way of asking - What do we have here (in the sector)? or What's the situation (in this market)?” … https://www.regmedinvestors.com/articles/11856
Pre-open indication results: 8 HITs <Maintain SELL: Biostage (BSTG -$0.00 to $1.25 with 260): BUY from SELL: Applied Genetic Technologies (AGTC +$0.12), Adverum Biotechnologies (ADVM +$0.10), Editas Medicine (EDIT +$0.36), CRISPR Therapeutics (CRSP +$1.85), Chinook Therapeutics (KDNY -$0.37), Sangamo Therapeutics (SGMO +$0.01), Voyager Therapeutics (VYGR +$0.00)> and 2 MISS < Fate Therapeutics (FATE +$3.31), Global Blood Therapeutics (GBT -$1.06)>
RegMed/Stem/Cell and Gene therapy’s 35 covered equities’ Advance/Decline (A/D) lines: progressions and regressions …
- Thursday opened positive at 19/14, 1 flat and 1 acquired, stayed positive at the mid-day to 27/6, 1 flat and 1 acquired, closing positive at 24/8, 2 flat and 1 acquired;
There are clear winners and losers
Jumping with share pricing momentum:
- ReNeuron (RENE.L), Vericel (VCEL), Fate Therapeutics (FATE), Intellia Therapeutics (NTLA), CRISPR Therapeutics (CRSP) to name 5 of the 24 inclining of the 35 covered
Hammered in today’s market:
- bluebird bio (BLUE), Global Blood Therapeutics (GBT), Ionis Pharmaceuticals (IONS), Sage Therapeutics (SAGE), Chinook therapeutics (KDNY), Solid Biosciences (SLDB), Pluristem (PSTI), Caladrius Bioscience (CLBS)to name 8 of the 8 declining of the 35 covered
- Sector volume had LOW with 4 of the 25-upside having higher than the 3-month average volume with the volume of 2 of 8-downside having higher than the 3-month average volume;
- Thursday’s percentage (%) of the 24-upside were +0.09% (SGMO) to +8.02% (BLCM) while the 8-downside ranges from -1.08% (SAGE) to -3.83% (BLUE);
Thursday’s (10 of 24) incline
- ReNeuron (RENE.L -$5.00 after Tuesday’s +$1.50);
- Vericel (VCEL +$4.35);
- Fate Therapeutics (FATE +$3.31 after Wednesday’s -$4.40, Tuesday’s -$3.56 after Monday’s -$1.75);
- Intellia Therapeutics (NTLA +$1.99 after Wednesday’s -$8.53 and Tuesday’s -$0.61);
- CRISPR Therapeutics (CRSP +$1.85 after Wednesday’s -$3.10);
- Alnylam Pharmaceuticals (ALNY +$1.83 after Wednesday’s -$1.34, Tuesday’s -$0.64 and Monday’s +$0.84):
- Ultragenyx (RARE +$1.28 after Wednesday’s -$3.92 and Tuesday’s -$4.23);
- Regenxbio (RGNX +$1.08);
- uniQure NV (QURE +$0.96);
- BioLife Solutions (BLFS +$0.94 after Wednesday’s -$1.95, Tuesday’s +$1.09 and Monday’s -$0.97);
Thursday’s (8 of 8) decliners:
- bluebird bio (BLUE -$1.15);
- Global Blood Therapeutics (GBT -$1.06);
- Ionis Pharmaceuticals (IONS -$0.96 after Wednesday’s -$3.60, Tuesday’s +$0.41 and Monday’s +$1.79);
- Sage therapeutics (SAGE -$0.84);
- Chinook Therapeutics (KDNY -$0.37);
- Solid Biosciences (SLDB -$0.14 after Wednesday’s +$0.28);
- Pluristem (PSTI -$0.11 after Wednesday’s +$0.10);
- Caladrius Biosciences (CLBS -$0.03)
Closing: 2 – Biostage (BSTG), Voyager Therapeutics (VYGR) and 1 - Stemline Therapeutics (STML – acquired)
Sentiment and COVID-19:
- White House chief medical advisor Dr. Anthony Fauci said Monday that Americans should continue to get two doses of the Pfizer (PFE) and Moderna (MRNA) Covid-19 vaccines, despite a recent U.S. study that showed the shots are highly effective after just one dose.
- Unlike Johnson & Johnson’s (JNJ) vaccine, which requires one dose, PFE’s and MRNA’s vaccines require two shots given three to four weeks apart.
Infection cases <Million>: never to forget …
- Thursday vaccinations: 175 M
- Thursday 30.737 M cases,
- Thursday’s death rate totaled 556,106 <Johns Hopkins University>
The iShares NASDAQ Biotechnology (IBB) and the SPDR S&P ETF (XBI) indicators:
- Thursday, the IBB closed up +0.36% and XBI closed up +0.62%
The CBOE Volatility Index (VVIX: INDEX) tracked:
- Thursday was down -0.21 points or -1.22% at 16.95
Upside volume: low
- Thursday: 4 out of the 24-upside had higher than the 3-month average volume;
Downside volume: low
- Thursday: 2 out of the 8-downside had higher than the 3-month average volume;
Percentage (%) movement/range statistics: % and pricing drop
- Thursday’s percentage (%) of the 25-upside were +0.09% (SGMO) to +8.02% (BLCM) while the 8-downside ranges from -1.08% (SAGE) to -3.83% (BLUE);
April, the beginning of Q2/21:
Thursday closed positive with 24 advancers, 8 decliners, 2 flat and 1 acquired
The BOTTOM LINE: Since scaling to new highs on Monday, the sector had returned t lows for much of this week until today's session - remeber the title -- "When you’re on a roller coaster, the only thing you can be sure of is you’ll end up back where you started".
After Monday’s “streak”, Tuesday's “dump to the scrapheap” and Wednesday’s continued drive to the downside … there are lots of reasons to be excited about the months ahead, and I am optimistic about the near-term; however, the short-term momentum blasts give me ‘the itches”!
Sector momentum remains “sketchy” and these alternative session breathers seems to guarantee more uncertainty and risks.
NEWS, clinical – non-financial (i.e., raising capital) need to flow!!!
Investors are here to make money from investments that is WHY, I say SELL into Strength!
I’m STILL a “beware or the cautious man” whose focus has always been “warning analysis” … earnings’ season is NOT over … my advice, trim and skim any new highs if one can!”
Don’t get complacent …
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.