April 27, 2021 7:46am
After record close highs, I usually say bye
Earnings this week: MiMedx (MDXG) on Wednesday 4/28, Alnylam Pharmaceuticals (ALNY) on Thursday, 4/29
News: Applied Genetic Technologies’ (AGTC +$0.09 with -$0.22 or -2.77% pre-market indication) Mark Shearman, Ph.D., Chief Scientific Officer, has resigned from the company to pursue another opportunity
Pre-open indications: 3 BUYs, 5 SELLs and 1 Maintain SELL
Mentions: FIXX, AGTC, KDNY, CRSP, EDIT, RARE, MESO, VCEL, VYGR, BSTG
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 after the opening and what might happen during the session
Dow futures are DOWN -0.01% (-4 points), S&P futures are UP +0.08% (+4 points) and NASDAQ futures are UP +0.11% (+16 points)
Stock futures were slipping and mixed on Tuesday as investors braced for tech earnings,
European stocks were down and mixed by country,
Asia-Pacific markets were also mixed as concerns about the pandemic dominate economic conversations
Data Docket: The Federal Reserve kicks off its two-day policy meeting, many do not expect any change in message or to take any new action.
Q1 earnings season kicks into high gear on Tuesday with key tech companies such as Alphabet, Microsoft and AMD reporting after the bell.
The S&P 500 edged higher to close at another record on Monday, while the Nasdaq climbed 0.9% to hit its first fresh record close since Feb. 12.
Monday’s evening’s recap: “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/11883
- The Nasdaq closed UP +121.97 points (+0.87%);
- The IBB closed up +1.92% and XBI closed up +3.47%
- Sector volume was LOW with 9 of the 31-upside having higher than the 3-month average volume with the volume of 1 of 2-downside having higher than the 3-month average volume;
- The CBOE Volatility Index (VVIX: INDEX) was up +0.31 points or +1.79% at 17.64;
- Monday’s percentage (%) of the 31-upside were +0.47% (AXGN) to +16.49% (VYGR) while the 2-downside ranges from -1.93% (MESO) to -5.17% (MDXG);
Q2/21 and April: 8 negative and 9 positive closes
- 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 at $1.10 with 407 shares traded after Friday’s -$0.05 to $1.10 with 151 shares traded, Thursday’s +$0.15 to $1.15 with 1,202 shares traded, Wednesday’s flat at $1.00 with 250 shares traded and last Tuesday’s -$0.28 to $1.00 with 6,816 shares traded.
Question#1: WHY do they NOT update their website as more of their leadership walks away? WHY do they NEED to misrepresent their management team?
Question#2: WHERE is the next level of funding coming from, is it further warrant execution - the only source of cash generation for further funding? Will the $1 million dollars remaining in the “till” last through the quarter? Should its “runway” be considered extremely short or even non-existent?
MINORITY PUBLIC shareholders are waiting, watching and weighing responses to MAINTAIN their RIGHTS.
The morning’s indications, from what I discern are in store:
- Homology Medicine (FIXX) closed up +$0.12 after Friday’s +$0.06 with a positive +0.06 or +0.87% aftermarket indication;
- CRISPR Indication (CRSP) closed up $9.17 after Friday’s +$0.66 with a positive +$0.78 or +0.57% pre-market indication;
- Voyager therapeutics (VYGR) closed up +$0.77 after Friday’s -$0.03 with a positive +$0.18 or +3.31% aftermarket indication; the FDA has removed the clinical hold on its VY-HTT01, a gene therapy candidate for Huntington's disease (HD).
Maintaining SELL into Strength:
- Applied Genetic Technologies (AGTC) closed up +$0.09 after Friday’s +$0.12 with a -$0.23 or -2.77% aftermarket indication;
- Chinook Therapeutics (KDNY) closed up +$0.30 after Friday’s -$0.36 with a negative -$0.05 or -0.33% aftermarket indication;
- Editas Medicine (EDIT) closed up +$2.17 after Friday’s +$0.62 with a negative -$0.03 or -0.08% aftermarket indication;
- Ultragenyx (RARE) closed up +$5.00 after Friday’s +$1.00 with a negative -$0.37 or -0.32% aftermarket indication;
- Vericel (VCEL) closed up +$4.46 after Friday’s +$1.96 with a negative -$0.05 or -0.08 aftermarket indicator;
The BOTTOM LINE: The only “thing” we’ve got to look forward to is the next wave of Q1 earnings or as I call them LPS (loss-per-share) numbers will reporting take the sector down?
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!” I also see some lows that could be in the “pick-up” stock game.
I say, re-asses your risk as some questionable earnings are on the horizon.
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.