April 9, 2021 7:24am
As the cell and gene therapy sector runs out of buyers, it runs into trouble (just like a fire that runs out of wood).
News: Cellectis SA (CLLS) completed sales of approximately $47 million of American Depositary Shares (ADS) pursuant to the Company’s ATM program <read more>
Pre-open indications: 3 BUYs, 5 SELLs and 1 Maintain SELL
Mentions: BSTG, BLFS, CLLS, IONS, NTLA, VCEL, FIXX, CRSP, EDIT
My version of the morning’s “numbers” is written to be informative rather than just about changes to share pricing; it’s what happened or will materialize beyond the opening and what might happen in the future
My comments are important in trying to distinguish the temporary from real pricing progress.
Dow futures are UP +0.21% (+70 points), S&P futures are UP +0.13% (+9 points) and NASDAQ futures are DOWN -0.06% (-9 points)
U.S. stock futures are mixed in early trading Friday implies a positive open, although the Nasdaq is questionable,
European markets were slightly lower,
Asia-Pacific markets were mostly lower.
Data Docket: Fed Chair Powell called the recovery from the pandemic “uneven” on Thursday, signaling a more robust recovery is needed.
A slow Friday … I like easing into a weekend …
Markets and interest rates have run up this year, concerns over equity valuations are growing; however, “our’ universe have ridden the roller-coaster too many times. Once the cell and gene therapy have the capacity to release real news can we get to ride another such as a merry-go-round – at the least it is one direction.
Thursday’s evening’s recap: “RegMed Investors’ (RMi) closing bell: backup today, reversing yesterday’s algorithmic curse. When you’re on a roller coaster, the only thing you can be sure of is you’ll end up back where you started.” … https://www.regmedinvestors.com/articles/11857
- The Nasdaq closed UP +140.47 points (+1.03%)
- The IBB closed up +0.36% and XBI closed up +0.62%
- Sector volume was 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;
- The CBOE Volatility Index (VVIX: INDEX) was down -0.21 points or -1.22% at 16.95
- 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);
Q2/21 and April: 2 negative and 3 positive closes
Q1/21: March: 10 positive, 12 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:
Biostage (BSTG): Questions continue … Maintaining Sell
Biostage (BSTG) closed flat again at $1.25 with 260 shares traded, after Wednesday’s $1.25 with 967 shares traded, Tuesday’s -$0.05 to $1.25 with 2008 shares traded, Monday’s -$0.04 to $1.30 with 2401 shares traded and last Thursday’s flat at 1.34 with 26 shares traded.
Question#1: HOW many executives or management “team members” remain at the company? Is the website truthful and up-to-date regarding … those WHO have left for other positions?
MINORITY PUBLIC shareholders are waiting, watching and weighing responses to MAINTAIN their RIGHTS.
SELL into Strength:
BioLife Solutions (BLFS) closed up +$0.94 to $35.80 after Wednesday’s $34.86 Tuesday’s $36.81, Monday’s $35.72 with a negative -$0.80 or -2.23% aftermarket indication.
Cellectis SA (CLLS) closed up +$0.80 to $20.24 with a negative -$0.14 or -0.69% after news of completed sales of approximately $47 million of American Depositary Shares (ADS) pursuant to the ATM program established on 3/29/21 through Jefferies LLC, acting as sales agent. Each ADS represents one ordinary share. In the ATM Sales, an aggregate of 2,415,630 new ADSs and the same number of underlying new ordinary shares have been issued to existing and new investors at an at-the-market price of $19.50 per new ADS.
Homology Medicine (FIXX) closed up +$0.30 to $7.48 after an offering price of $7.90 and has a negative -$0.07 or -0.94% pre-market indication. Lot of new shares hit the float.
Intellia Therapeutics (NTLA) closed up +$1.99 to $73.08 after Wednesday’s $71.09 after Tuesday’s $79.62 and Monday’s $80.23 with a negative -$0.27 or -0.37% aftermarket indication.
Vericel (VCEL) closed up +$4.35 to $59.82 after Wednesday’s $55.47 after Tuesday’s $55.54 and Monday’s $54.27 with a negative -$0.44 or -0.74% aftermarket indication. An Icarus flight pattern.
Fate Therapeutics (FATE) closed up +$3.31 at $79.01 after Wednesday’s -$4.40 to $75.70 after Tuesday’s-$3.56 to $80.10 and Monday’s -$1.75 with a negative -$1.01 or -1.28% aftermarket indication.
CRISPR Therapeutics (CRSP) closed up +$1.85 to $120.38 after Wednesday’s -$3.10 to $118.53, Tuesday’s -$0.36 to $121.63, Monday’s +$2.58 to $121.99 and last Thursday’s -$2.44 to $119.41 with a positive +$0.82 or +0.68% pre-market indication.
Editas Medicine (EDIT) closed up +$0.36 to $40.76 after Wednesday’s -$2.24 to $40.40, Tuesday’s -$0.22 to $42.64, Monday’s +$0.03 to $42.86 and last Thursday’s +$0.93 to $42.83 with a positive +$0.98 or +2.40% pre-market indication.
BUY from SELL:
Ionis Pharmaceuticals (IONS) closed down -$0.96 to $42.69 with a positive +$0.31 or +0.73% aftermarket indication following a private placement of convertible notes and a restructuring of a distribution agreement with Swedish Orphan Biovitrum AB (“Sobi”) for Tegsedi in North America. The restructuring will cost Ionis between $11 to $14 million, according to an SEC filing with an expectation to save up to $50 million a year beginning in 2022 due to the expanded Sobi agreement.
The BOTTOM LINE: Volatility sketches a contradictory picture of the short-term.
Have you heard of Albert Einstein’s definition of insanity? The one where he says it’s “doing the same thing over and over again and expecting different results?”
I make a commitment to provide need-to-know “facts in evidence” as equity’s volatility is one tactical signal for stocks.
I’m STILL a “beware or the cautious man” whose focus has always been “warning analysis” … my advice, trim and skim any new highs if one can!”
Welcome to my world of defining the “grey’ in our universe!
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.