April 23, 2021 6:01pm

Many were slotted to the downside while more plus one (1) split to the upside

Pre-open indication performance: 5 HITs and 1 MISS

The week in review … riding the roller-coaster

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 +227.59 points (+0.67%); the S&P closed UP +45.19 points (+1.09%) while the Nasdaq closed UP +198.40 points (+1.44%)

 

Henry’omics:

Indexes rebounded on Friday from Thursday’s decline after notice of president Biden’s capital gains tax increase.

  • Bloomberg News reported that Biden is planning a capital gains tax hike to as high as 43.4% for wealthy Americans. The proposal would hike the capital gains rate to 39.6% for those earning $1 million or more, up from 20% currently; Reuters and the New York Times also reported similar stories.

For the week, indexes are within +1% of their all-time highs yet, the S&P 500 closed with a -0.1% loss, while the Dow fell -0.5% and the Nasdaq dived -0.3%.

However, the CBOE market volatility aka the "fear" index plunged almost 10% in a sign of tumbling investor anxiety about the risks ahead.

 

Data docket: factory data and new home sales underscored a booming economy

 

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

  • Friday opened positive at 18/14, 2 flats and 1 acquired, strayed negative at the mid-day to 8/25, 1 flat and 1 acquired, closing negative at 16/17, 1 flat and 1 acquired;
  • Thursday opened positive at 18/14, 2 flats and 1 acquired, stayed positive at the mid-day to 29/5 and 1 acquired, closing positive at 24/8, 2 flats and 1 acquired;
  • Wednesday opened negative at 10/23, 1 flat and 1 acquired, moved positive at 11 a.m. at 26/7, 1 flat and 1 acquired, stayed positive at the mid-day to 23/9, 2 flats and 1 acquired, closing positive at 30/3, 1 flat and 1 acquired;
  • Tuesday opened negative at 14/17, 3 flat and 1 acquired, stayed negative at the mid-day to 9/23, 2 flats and 1 acquired, closing negative at 12/20, 2 flats and 1 acquired;
  • Monday opened negative at 4/22, 1 flat and 1 acquired, stayed negative at the mid-day to 2/32, and 1 acquired, closing negative at 3/31 and 1 acquired;

 

RegMed Investors’ (RMi) pre-open: “TGIF, what will be sustainable in the cell and gene therapy habitat. End-of-week pricing tends to decline, the closer distance in time to earnings’ reviews” … https://www.regmedinvestors.com/articles/11880

 

Pre-open indication results:  5 HITs < Biostage (BSTG -$0.0.55 at $1.10 with 151 shares traded); Adverum Biotechnologies (ADVM -$0.06), bluebird bio (BLUE -$0.13), Precigen (PGEN -$0.14), UniQure NV (QURE -$0.68)> and 1 MISS <Vericel (VCEL +$1.96)>

 

There are clear winners and losers

Jumping with share pricing momentum:

  • Intellia Therapeutics (NTLA), Vericel (VCEL), Sage Therapeutics (SAGE), Fate Therapeutics (FATE), Ultragenyx (RARE) to name 5 of the 16 inclining of the 35 covered

Hammered in today’s market:

  • Alnylam Pharmaceuticals (ALNY), Global Blood Therapeutics (GBT), uniQure NV (QURE), Chinook Therapeutics (KDNY), Regenxbio (RGNX) to name 5 of the 17 declining of the 35 covered

 

Key metrics:

  • Sector volume was LOW with 1 of the 16-upside having higher than the 3-month average volume with the volume of 0 of 17-downside having higher than the 3-month average volume;
  • Friday’s percentage (%) of the 16-upside were +0.52% (CRSP) to +5.36% (MDXG) while the 17-downside ranges from -0.45% (BLUE) to -4.76% (BSTG);

 

Friday’s (10 of 16) incline

  • Intellia Therapeutics (NTLA +$3.69);
  • Vericel (VCEL +$1.96);
  • Sage Therapeutics (SGMO +$1.75 after Thursday’s +$0.35);
  • Fate Therapeutics (FATE +$1.11 after Thursday’s -$0.01, Wednesday’s +$6.06, Tuesday’s -$1.47 and Monday’s -$1.52);
  • Ultragenyx (RARE +$1.00 after Thursday’s -$0.27 and Wednesday’s +$4.15);
  • CRISPR Therapeutics (CRSP +$0.66 after Thursday’s +$4.97, Wednesday’s +$3.26, Tuesday’s +$6.63 on VRTX news and Monday’s -$3.52);
  • Editas Medicine (EDIT +$0.62 after Thursday’s +$0.43, Wednesday’s +$1.39 and Tuesday’s +$0.30);
  • MiMedx (MDXG +$0.57);
  • BioLife Solutions (BLFS +$0.25 after Thursday’s -$0.15, Wednesday’s +$1.56, Tuesday’s -$1.20 and Monday’s -$1.46);
  • Ionis Pharmaceuticals (IONS +$0.23 after Thursday’s +$0.97);

Friday’s (10 of 17) decliners:

  • Alnylam Pharmaceuticals (ALNY -$1.05);
  • Global Blood Therapeutics (GBT -$1.05 after Thursday’s +$0.87, Wednesday’s +$1.02 and Tuesday’s +$0.47);
  • uniQure NV (QURE -$0.68 after Thursday’s +$0.58, Wednesday’s -$0.13, Tuesday’s -$0.57 and Monday’s -$0.99);
  • Chinook therapeutics (KDNY -$0.36);
  • Regenxbio (RGNX -$0.34 after Thursday’s +$0.97);
  • Mesoblast (MESO -$0.23);
  • AxoGen (AXGN -$0.16 after Thursday’s -$0.02, Wednesday’s +$1.01, Tuesday’s +$0.55 and Monday’s -$1.05);
  • Cellectis SA (CLLS -$0.16);
  • Precigen (PGEN -$0.14);
  • Sangamo Therapeutics (SGMO -$0.14 after Thursday’s -$0.02);

Closing: 1 –ReNeuron (RENE.L) and 1- Stemline Therapeutics (STML – acquired)

 

COVID-19 updates:

  • Advisory Panel on Immunization Practices – The JNJ vaccination shot pause will end and the CDC and FDA will now review the recommendation and ultimately decide on the vaccine’s fate in the country.

COVID Data Tracker <Million>:

  • Friday 31,73 M cases,
  • Friday’s death rate totaled 567,352 <Johns Hopkins University>
  • Friday vaccinations:  222 M

 

Stats:

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

  • Friday, the IBB closed up to +0.42% and XBI closed down -0.18%
  • Thursday, the IBB closed up to +0.06% and XBI closed up +1.33%
  • Wednesday, the IBB closed up to +1.97% and XBI closed up +3.49%
  • Tuesday, the IBB closed flat at 0.00% and XBI closed down -0.33%
  • Monday, the IBB closed down -1.10% and XBI closed down -2.15%

 

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Friday was down -1.38 points or -7.38% at 17.33
  • Thursday was up +1.21 points or +6.91% at 18.71
  • Wednesday was down -1.18 points or -6.32% at 17.50
  • Tuesday was up +1.39 points or +8.04% at 18.68
  • Monday was up +1.05 points or +6.46% at 17.30

 

Upside volume: low

  • Friday: 1 out of the 16-upside had higher than the 3-month average volume;
  • Thursday: 5 out of the 24-upside had higher than the 3-month average volume;
  • Wednesday: 4 out of the 30-upside had higher than the 3-month average volume;
  • Tuesday: 2 out of the 12-upside had higher than the 3-month average volume;
  • Monday: 0 out of the 3-upside had higher than the 3-month average volume;

 

Downside volume: low

  • Friday: 0 out of the 17-downside had higher than the 3-month average volume;
  • Thursday: 0 out of the 8-downside had higher than the 3-month average volume;
  • Wednesday: 2 out of the 3-downside had higher than the 3-month average volume;
  • Tuesday: 3 out of the 20-downside had higher than the 3-month average volume;
  • Monday: 3 out of the 31-downside had higher than the 3-month average volume;

 

Percentage (%) movement/range statistics: LOW % with limited pricing drops as upside maintains

  • Friday’s percentage (%) of the 16-upside were +0.52% (CRSP) to +5.36% (MDXG) while the 17-downside ranges from -0.45% (BLUE) to -4.76% (BSTG);
  • Thursday’s percentage (%) of the 24-upside were +0.15% (FIXX) to +15.50% (BSTG) while the 8-downside ranges from -0.01% (FATE) to -3.84% (MESO);
  • Wednesday’s percentage (%) of the 30-upside were +0.80% (IONS) to +12.98% (AGTC) while the 3-downside ranges from -0.40% (QURE) to -4.91% (RENE.L);
  • Tuesday’s percentage (%) of the 12-upside were +0.12% (NTLA) to +6.23% (PGEN) while the 20-downside ranges from -0.38% (RARE) to -21.87% (BSTG);
  • Monday’s percentage (%) of the 3-upside were +0.55% (SAGE) to +1.13% (ADVM) while the 31-downside ranges from -0.02% (GBT) to -6.57% (VCEL);

 

April, the beginning of Q2/21:

Friday closed negative with 16 advancers, 17 decliners, 1 flat and 1 acquired

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

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

Tuesday closed negative with 12 advancers, 20 decliners, 3 flats and 1 acquired

Monday (4/19) closed negative with 3 advancers, 31 decliners and 1 acquired

Friday closed positive with 6 advancers, 27 decliners 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: Earnings are about to take center stage over the next weeks, there is a lot of anticipation of what's to come I don’t feel that many cell and gene therapy sector won’t beat any expectations.

Q1/21 earnings are being announced, MiMedx (MDXG) on Wednesday 4/28, Alnylam Pharmaceuticals (ANY) on Thursday, 4/29, Sage therapeutics (SAGE) on Tuesday, 5/4, AxoGen (AXGN) and Vericel (VCEL) 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.