April 28, 2021 7:30am

Coming: Many data presentations at American Society of Gene & Cell Therapy 2021 Virtual Annual Meeting in May

Earnings this week: CRISPR Therapeutics (CRSP) reported, MiMedx (MDXG) today, Alnylam Pharmaceuticals (ALNY) on Thursday, 4/29

3Pre-open indications:  6 BUYs, 3 SELLs and 1 Maintain SELL

Mentions: ADVM, FIXX, CRSP, GBT, BSTG, FATE, NTLA, PSTI, VYGR

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 -0.08% (-28 points), S&P futures are UP +0.11% (+5 points) and NASDAQ futures are DOWN -0.06% (+8 points)

 

U.S. stock futures are mixed (Dow and Nasdaq are down) on Wednesday as investors digested tech earnings and geared up for the latest Fed policy announcement.

European stocks were slightly lower,

Asia-Pacific stocks were mixed after a slew of economic data.

 

Data Docket: Mortgage application volume fell 2.5% last week from the previous week, according to the Mortgage Bankers Association. Mortgage applications to purchase a home fell 5% last week. Applications to refinance a home loan fell 1% for the week, despite the lowest interest rates since February.

  • Australia’s consumer price index rose 0.6% in the first quarter, according to data released by the country’s Bureau of Statistics
  • Japan’s retail sales rose 5.2% in March as compared with a year ago, according to government data. That was higher than a median market forecast for a 4.7% gain.
  • The Fed wraps up its two-day policy meeting. The central bank is not expected to take any action, but economists expect it to defend its policy to let inflation run hot. Fed Chairman Powell will hold a press conference at 2:30 p.m. ET, 30 minutes after the decision is announced, and those comments could move markets.

 

Henry’omics:

On Tuesday, the major averages traded around the flatline. The Dow rose just 3 points. The S&P 500 closed flat after notching an all-time high on Monday. The Nasdaq was the relative underperformer, dipping 0.34%.

 

Tuesday’s evening’s recap: “cell and gene therapy sector swings low again after eight (8) alternating up and down closes in sector sessions, what did one expect?” … https://www.regmedinvestors.com/articles/11885

  • The Nasdaq closed DOWN -46.56 points (-0.34%);
  • The IBB closed down -0.26% and XBI closed up +0.28%
  • Sector volume was LOW with 2 of the 9-upside having higher than the 3-month average volume with the volume of 3 of 24-downside having higher than the 3-month average volume;
  • The CBOE Volatility Index (VVIX: INDEX) was down -0.08 points or -0.45% at 17.56;
  • Tuesday’s percentage (%) of the 9-upside were +0.18% (EDIT) to +16.36% (BSTG) while the 24-downside ranges from -0.14% (FIXX) to -8.78% (AGTC);

Q2/21 and April: 9 negative and 9 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 up +$0.18 to $1.28 with 1,458 shares traded, after Monday’s $1.10 with 407 shares traded, Friday’s -$0.05 to $1.10 with 151 shares traded, Thursday’s +$0.15 to $1.15 with 1,202 shares traded and last Wednesday’s flat at $1.00 with 250 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?

Question#3: WHY the need to “pump, promote and inflate” the share price as the volume reflects the manipulation to execute the last remaining warrants?

MINORITY PUBLIC shareholders are waiting, watching and weighing responses to MAINTAIN their RIGHTS.

 

The morning’s indications, from what I discern are in store:

BUY:

  • Adverum Biotechnologies (ADVM) closed down -$0.10 after Monday’s +$0.46 and Friday’s -$0.06 with a positive +0.37 or +3.75% aftermarket indication;
  • Intellia therapeutics (NTLA) closed up +$2.28 after Monday’s $6.60 and last Friday’s +$3.60 with a positive +$0.03 or +0.04% pre-market indication;
  • Fate Therapeutics (FATE) closed up +$0.51 after Monday’s $6.67 and Friday’s +$0.21 with a positive +$0.28 or -0.30% aftermarket indication;
  • Pluristem (PSTI) closed down -$0.05 after Monday’s +$0.12and last Friday’s -$0.03 with a positive +$0.08 or +1.80% aftermarket indication;

 

Maintaining BUY:

  • Homology Medicine (FIXX) closed down -$0.01 after Monday’s +$0.12 and Friday’s +$0.06 with a positive +0.07 or +1.02% pre-market indication;
  • CRISPR Indication (CRSP) closed down -$2.68 after Monday’s +$9.17 after Friday’s +$0.66 with a positive +$0.19 or +0.14% pre-market indication;

 

SELL:

  • Global Blood Therapeutics (GBT) closed down -$2.06 after Monday’s -$1.31 and last Friday’s -$1.05 with a negative -$0.96 or -2.32% aftermarket indication;
  • Voyager Therapeutics (VYGR) closed down -$0.33 after Monday’s +$0.77 after Friday’s -$0.03 with a negative -$0.05 or -0.98% pre-market 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:

  • Vericel (VCEL) closed down -0.37 after Monday’s +$4.46 after Friday’s +$1.96 with a negative -$0.68 or -1.07% aftermarket indicator;

 

The BOTTOM LINE: What's changed ... 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 – probable?

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.