April 16, 2021 5:47pm

As profit-taking and a little animal spirits thrown-in mixed with aged confidence, upside fear which hampered share pricing growth

Pre-open indication performance: 5 HITs and 5 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 +164.68 points (+0.48%); the S&P closed UP +15.05 points (+0.36%) while the Nasdaq closed UP +13.58 points (+0.10%)

 

Henry’omics:

Indexes climbed to record levels on Thursday after key companies reported strong earnings and fresh

  • The S&P 500 has gained 1.3% this week, on pace for its fourth straight positive week. The Dow has climbed 1%, while the Nasdaq is up 0.9%.

 

Data Docket: The University of Michigan said Friday its preliminary consumer sentiment index rose to a one-year high of 86.5 in the first half of this month from 84.9 in March.

 

RegMed Investors’ (RMi) pre-open: “indications set some expectations.” … https://www.regmedinvestors.com/articles/11869    

 

Pre-open indication results:  5 HITs < SELL into potential Decline: bluebird bio (BLUE -$1.44); SELL/Falling Knife: Editas Medicine (EDIT -$6.31), Ionis Pharmaceuticals (IONS -$0.11), Ionis Pharmaceuticals (IONS -$0.25); Maintain SELL into Strength: CRISPR Therapeutics (CRSP -$5.29) and 5 MISS < Biostage (BSTG +$0.01 to $1.34 with 510 shares traded – a 200 a pre-close “pump” buy at sessions end to stop a downslide), Chinook Therapeutics (KDNY +$0.66), Ultragenyx (RARE -$0.86), Homology Medicine (FIXX -$0.22), Vericel (VCEL +$0.64)>

 

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

  • Friday opened negative at 6/28 and 1 acquired, stayed negative at the mid-day to 4/29, a flat and 1 acquired, closing negative at 6/27, 1 flat and 1 acquired;
  • Thursday opened positive at 22/9, 3 flats and 1 acquired, stayed positive at the mid-day to 18/16 and 1 acquired, closing positive at 18/16 and 1 acquired;
  • 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;
  • Tuesday opened positive at 17/16, 1 flat and 1 acquired, strayed negative at the mid-day to 15/19, and 1 acquired, closing positive at 23/11 and 1 acquired;
  • Monday opened negative at 5/28, 1 flat and 1 acquired, stayed negative at the mid-day to 5/29, and 1 acquired, closing negative at 4/30 and 1 acquired;

 

There are clear winners and losers

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

  • ReNeuron (RENE.L), Chinook Therapeutics (KDNY), Vericel (VCEL), BioLife Solutions (BLFS), Cellectis SA (CLLS), Biostage (BSTG) to name 6 of the 6 inclining of the 35 covered

Hammered in today’s market:

  • Editas Medicine (EDIT), CRISPR Therapeutics (CRSP), Intellia Therapeutics (NTLA), Fate Therapeutics (FATE), bluebird bio (BLUE) to name 5 of the 27 declining of the 35 covered

 

Key metrics:

  • Sector volume was LOW with 0 of the 6-upside having higher than the 3-month average volume with the volume of 6 of 27 downside having higher than the 3-month average volume;
  • Friday’s percentage (%) of the 6-upside were +0.52% (CLLS) to +4.33% (KDNY) while the 27-downside ranges from -0.10% (ALNY) to -15.40% (EDIT);

 

Friday’s (6 of 6) incline

  • ReNeuron (RENE.L +$4.50 after Thursday’s -$8.00, Wednesday’s +$1.50, Tuesday’s +$2.00 and Monday’s +$4.50);
  • Chinook Therapeutics (KDNY +$0.66 after Thursday’s +$1.44 and Wednesday’s -$0.11);
  • Vericel (VCEL +$0.64 after Thursday’s +$0.92);
  • BioLife Solutions (+$0.47);
  • Cellectis SA (CLLS +$0.10 after Thursday’s -$0.21);
  • Biostage (BSTG +$0.01)

Thursday’s (10 of 27) decliners:

  • Editas Medicine (EDIT -$6.31 after Thursday’s -$0.55, Wednesday’s -$0.13, Tuesday’s +$2.15 after Monday’s +$0.05);
  • CRISPR Therapeutics (CRSP -$5.29 after Thursday’s +$0.74, Wednesday’s +$2.23, Tuesday’s +$6.49 and Monday’s -$1.35);
  • Intellia Therapeutics (NTLA -$4.32 after Thursday’s -$1.58, Wednesday’s +$5.56, Tuesday’s +$2.38 and Monday’s -$2.23);
  • Fate Therapeutics (FATE -$3.23 after Thursday’s -$0.33, Wednesday’s +$5.83, Tuesday’s +$3.90 and Monday’s -$2.99);
  • uniQure NV (QURE -$1.40 after Thursday’s +$0.59);
  • Regenxbio (RGNX -$1.36 after Thursday’s +$0.53, Wednesday’s +$0.68, Tuesday’s +$0.91 and Monday’s -$1.42);
  • Ultragenyx (RARE -$0.86 after Thursday’s +$1.61, Wednesday’s +$1.38, Tuesday’s +$6.06 and Monday’s -$2.95);
  • Sage Therapeutics (SAGE -$0.86 after Thursday’s -$0.17, Wednesday’s +$3.73, Tuesday’s -$2.74 and Monday’s -$1.93);
  • AxoGen (AXGN -$0.65);

Closing: 1 flat - Pluristem (PSTI) and 1- Stemline Therapeutics (STML – acquired)

 

Sentiment and COVID-19:

  • The rate of daily vaccine doses reported administered in the U.S. held above 3 million for the ninth straight day Thursday. Multiple states are nearing the halfway point for residents with at least one shot, with New Hampshire already across the 50% mark.

COVID Data Tracker <Million>:

  • Friday 31,3 M cases,
  • Friday’s death rate totaled 562,296 <Johns Hopkins University>
  • Friday vaccinations:  202 M

 

Stats:

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

  • Friday, the IBB closed up +0.05% and XBI closed down -1.47%
  • Thursday, the IBB closed up +1.22% and XBI closed up +0.88%
  • Wednesday, the IBB closed up +1.43% and XBI closed up +2.65%
  • Tuesday, the IBB closed up +1.85% and XBI closed up +1.46%
  • Monday, the IBB closed down -1.50% and XBI closed down -1.99%

 

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Friday was down -0.36 points or -2.17% at 16.21
  • Thursday was down -0.42 points or -2.47% at 16.57
  • Wednesday was up +0.34 points or +2.04 % at 16.99
  • Tuesday was down -0.26 points or – 1.54% at 16.65
  • Monday was up +0.22 points or +1.32% at 16.91

 

Upside volume: low

  • Friday: 0 out of the 6-upside had higher than the 3-month average volume;
  • Thursday: 0 out of the 18-upside had higher than the 3-month average volume;
  • Wednesday: 3 out of the 23-upside had higher than the 3-month average volume;
  • Tuesday: 3 out of the 23-upside had higher than the 3-month average volume;
  • Monday: 1 out of the 4-upside had higher than the 3-month average volume;

 

Downside volume: low

  • Friday: 6 out of the 27 -downside had higher than the 3-month average volume;
  • Thursday: 1 out of the 16-downside had higher than the 3-month average volume;
  • Wednesday: 1 out of the 9-downside had higher than the 3-month average volume;
  • Tuesday: 1 out of the 11-downside had higher than the 3-month average volume;
  • Monday: 6 out of the 30-downside had higher than the 3-month average volume;

 

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

  • Friday’s percentage (%) of the 6-upside were +0.52% (CLLS) to +4.33% (KDNY) while the 27-downside ranges from -0.10% (ALNY) to -15.40% (EDIT);
  • Thursday’s percentage (%) of the 18-upside were +0.33% (BLFS) to +13.68% (BSTG) while the 16-downside ranges from -0.22% (SAGE) to -8.81% (BCLI);
  • 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);
  • Tuesday’s percentage (%) of the 23-upside were +0.14% (FIXX) to +6.03% (RARE) while the 11-downside ranges from -0.08% (MDXG) to -5.13% (BSTG);
  • Monday’s percentage (%) of the 4-upside were +0.13% (EDIT) to +3.38% (RENE.L) while the 30-downside ranges from -0.11% (ADVM) to -9.66% (CLBS);

 

April, the beginning of Q2/21:

Friday closed negative with 6 advancers, 27 decliners, 1 flat and 1 acquired

Thursday closed positive with 18 advancers, 16 decliners and 1 acquired

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

Tuesday closed positive with 23 advancers, 11 decliners and 1 acquired

Monday (4/12) closed negative with 4 advancers, 30 decliners and 1 acquired

Friday closed negative with 5 advancers, 26 decliners, 3 flats and 1 acquired

Thursday closed positive with 24 advancers, 8 decliners, 2 flat and 1 acquired

Wednesday closed negative with 3 advancers, 30 decliners, 1 flat and 1 acquired

Tuesday closed negative with 10 advancers, 24 decliners and 1 acquired

Monday (4/5) closed positive with 24 advancers, 8 decliners, 2 flat and 1 acquired

Thursday (4/1) closed positive with 19 advancers, 13 decliners, 2 flat and 1 acquired

 

The BOTTOM LINE: As I had stated, “I have NOT been buying into sustainability … I have been wrong yet in a few sessions, I have been righter, more often as mini-rotations have made the sector rally over bought, despite the 3-session uptrend.

Q1/21 earnings are being announced, Alnylam Pharmaceuticals (ANY) on Thursday, 4/29, 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!”

My time frame of measurement is Friday to Friday and been proved right again, 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.