April 14, 2021 5:19pm

While indexes are in turmoil while traversing an anxious path of exceeding expectations surrounding earnings season initiation

News: Regenxbio (RGNX +$0.68 with a +$1.91 aftermarket indication) dosed the first patient in Cohort 3 of the ongoing P1/2 trial of RGX-121 for the treatment of Mucopolysaccharidosis Type II (MPS II), also known as Hunter Syndrome, in patients up to five years old. RGX-121 is an investigational one-time gene therapy.

Pre-open indication performance: 5 HITs and 2 Miss

If you’re looking for sector intel, ideas and facts or Insight in a volatile climate, RMi defines the extenuating factors of share pricing! 

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

The Dow closed UP +54.94 points (+0.16%); the S&P closed DOWN -16.88 points (-0.41%) while the Nasdaq closed DOWN -138.26 points (-0.99%)

 

Henry’omics:

Indexes are mixed and slipping as the first batch of bank and corporate earnings exceeded expectations although strong bank earnings helped support sentiment.

 

Data Docket: Fed Chair Powell said the central bank will reduce its bond purchases likely well before it hikes interest rates.

 

RegMed Investors’ (RMi) pre-open: “are we investing or gambling; a little bit of both in this volatile market and see-sawing sector” …  https://www.regmedinvestors.com/articles/11865

 

Pre-open indication results:  5 HITs <Maintain SELL:, Alnylam Pharmaceuticals (ALNY +$2.08), Sage Therapeutics (SAGE +$3.73); SELL into strength: CRISPR Therapeutics (CRSP +$2.23), Editas Medicine (EDIT -$0.13), uniQure NV (QURE -$0.00)> and 2 MISS < Biostage (BSTG +$0.06 to $1.17 with 2,011 shares traded – the “pump” is turned-on again to keep the share price above $1.00),Vericel (VCEL +$0.46)>

 

RegMed/Stem/Cell and Gene therapy’s 35 covered equities’ Advance/Decline (A/D) lines: progressions and regressions …

  • Wednesday opened positive at 22/9, 3 flats and 1 acquired, stayed positive at the mid-day to 29/6 and 1 acquired, closing positive at 23/9, 2 flats and 1 acquired;

 

There are clear winners and losers

Jumping with share pricing momentum: yesterday’s dogs get to bark again

  • Fate Therapeutics (FATE), Intellia Therapeutics (NTLA), CRISPR Therapeutics (CRSP), Sage Therapeutics (SAGE), Ultragenyx (RARE) to name 5 of the 23 inclining of the 35 covered

Hammered in today’s market:

  • BioLife Solutions (BLFS), MiMedx (MDXG), Chinook Therapeutics (KDNY), AxoGen (AXGN), Editas Medicine (EDIT), Athersys (ATHX), BrainStorm Cell Therapeutics (BCLI), Pluristem (PSTI), Verastem (VSTM) to name 9 of the 9 declining of the 35 covered

 

Key metrics:

  • Sector volume had LOW with 3 of the 23-upside having higher than the 3-month average volume with the volume of 1 of 9 downside having higher than the 3-month average volume;
  • Wednesday’s percentage (%) of the 23-upside were +0.41% (CLLS) to +7.85% (NTLA) while the 9-downside ranges from -031% (EDIT) to -3.06% (BLFS);

 

Wednesday’s (10 of 23) incline

  • Fate Therapeutics (FATE +$5.83 after Tuesday’s +$3.90 and Monday’s -$2.99);
  • Intellia Therapeutics (NTLA +$5.56 after Tuesday’s +$2.38 and Monday’s -$2.23);
  • Sage Therapeutics (SAGE +$3.73 after Tuesday’s -$2.74 and Monday’s -$1.93);
  • CRISPR Therapeutics (CRSP +$2.23 after Tuesday’s +$6.49 and Monday’s -$1.35);
  • Alnylam Pharmaceuticals (ALNY +$2.08 after Tuesday’s +$1.20 and Monday’s -$3.20);
  • ReNeuron (RENE.L +$1.50 after Tuesday’s +$2.00 and Monday’s +$4.50);
  • Ultragenyx (RARE +$1.38 after Tuesday’s +$6.06 and Monday’s -$2.95);
  • bluebird bio (BLUE +$1.21);
  • Ionis Pharmaceuticals (IONS +$0.74);
  • Regenxbio (RGNX +$0.68 after Tuesday’s +$0.91 and Monday’s -$1.42);

Wednesday’s (9 of 9) decliners:

  • BioLife Solutions (BLFS -$1.06 after Tuesday’s -$0.15);
  • MiMedx (MDXG -$0.32 after Tuesday’s -$0.01);
  • AxoGen (AXGN -$0.23 after Tuesday’s -$0.09);
  • Editas Medicine (EDIT -$0.13 after Tuesday’s +$2.15 after Monday’s +$0.05);
  • Chinook therapeutics (KDNY -$0.11);
  • Pluristem (PSTI -$0.06 after Tuesday’s -$0.17);
  • Brainstorm Cell Therapeutics (BCLI -$0.05);
  • Athersys (ATHX -$0.045 after Tuesday’s -$0.01);
  • Verastem (VSTM -$0.02);

Closing: 2 - Caladrius Bioscience (CLBS), UniQure NV (QURE) and 1 - Stemline Therapeutics (STML – acquired)

 

Sentiment and COVID-19:

  • Pfizer CEO Albert Bourla said PFE can deliver 10% more vaccine doses to the U.S. by the end of May than previously expected. Plus, Moderna said its Covid-19 vaccine was more than 90% effective at protecting against the virus six months after a person’s second shot.

COVID Data Tracker <Million>:

  • Wednesday 31,158 M cases,
  • Wednesday’s death rate totaled 560,576 <Johns Hopkins University>
  • Wednesday vaccinations: 195 M

 

Stats:

The iShares NASDAQ Biotechnology (IBB) and the SPDR S&P ETF (XBI) indicators:

  • Wednesday, the IBB closed up +1.43% and XBI closed up +2.65%

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Wednesday was up +0.34 points or +2.04 % at 16.99

Upside volume: low

  • Wednesday: 3 out of the 23-upside had higher than the 3-month average volume;

Downside volume: low

  • Wednesday: 1 out of the 9-downside had higher than the 3-month average volume;

Percentage (%) movement/range statistics: % and pricing drop

  • Wednesday’s percentage (%) of the 23-upside were +0.41% (CLLS) to +7.85% (NTLA) while the 9-downside ranges from -031% (EDIT) to -3.06% (BLFS);

 

April, the beginning of Q2/21:

Wednesday closed positive with 23 advancers, 9 decliners, 2 flats and 1 acquired

 

The BOTTOM LINE: The cell and gene therapy sector were up after WEAKNESS; a rebound is usually due.

Q1/21 earnings are being announced, AxoGen (AXGN) on Wednesday, 5/5 and Athersys (ATHX) on Thursday, 5/6.

Sector momentum remains “sketchy” and these depressed pricing guarantees more uncertainty and risks but, some rebounds.

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.