May 3, 2021 7:57am
Pre-open indications: 4 BUYs, 9 SELLs and 1 Maintain SELL
News: Alnylam Pharmaceuticals (ALNY positive early results on clinical outcome measures from the 12-month analysis of ILLUMINATE-A P3 study of OXLUMO® (lumasiran), an RNAi therapeutic targeting hydroxyacid oxidase 1 (HAO1) – the gene encoding glycolate oxidase (GO) – for the treatment of primary hyperoxaluria type 1 (PH1).
Earnings: Tuesday – Sage Therapeutics (SAGE), Sangamo Therapeutics (SGMO), Ultragenyx (RARE); Wednesday - AxoGen (AXGN), Fate Therapeutics (FATE), Global Blood Therapeutics (GBT), Regenxbio (RGNX), Vericel (VCEL); Thursday – Athersys (ATHX), Caladrius Biosciences (CLBS)
Mentions: AGTC, ALNY, BLUE, BSTG, CRSP, EDIT, FATE, FIXX, KDNY, MDXG, MESO, NTLA, SAGE, VCEL
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 UP +0.66% (+222 points), S&P futures are UP +0.56% (+23 points) and NASDAQ futures are UP +0.31% (+43 points)
U.S. stock futures moved higher pre-open on Monday morning, the first trading day of May
European stocks were up, with the U.K. closed for the public holiday.
Asia-Pacific stocks were down, with major markets in China and Japan closed for holidays. In Hong Kong, the Hang Seng index was among the biggest losers
Data Docket: Manufacturing PMI data for April will be released at 9:45 a.m. ET, followed by ISM manufacturing at 10 a.m.
Monday marks the first trading day of May. Despite Friday’s weakness in equities, the S&P 500 notched its third straight month of gains in April, adding more than 5% to the index as investors bet on a big economic and profit recovery from the pandemic. <CNBC>
Friday’s evening’s recap: “the table was set but, when the upside was served, the sector was cooked overdone” … https://www.regmedinvestors.com/articles/11891
- The Nasdaq closed DOWN -119.86 points (-0.85%);
- The IBB closed down -0.17% and XBI closed down -1.04%;
- Sector volume was LOW with 3 of the 10-upside having higher than the 3-month average volume with the volume of 2 of 23-downside having higher than the 3-month average volume;
- The CBOE Volatility Index (VVIX: INDEX) was up +1 point or +5.68% at 18.61;
- Friday’s percentage (%) of the x-upside were +0.06% (RGNX) to +6.09% (MESO) while the xx-downside ranges from -0.15% (SAGE) to -5.90% (PGEN);
May: first session
April: 11 negative and 10 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 again at $1.26 with 1,009 shares traded after Thursday’s $1.26 with3,302 shares traded, Wednesday’s -$0.02 to $1.26 with 830 shares traded, Tuesday’s +$0.18 to $1.28 with 1,458 shares traded and last Monday’s $1.10 with 407 shares traded.
Question#1: WHO’S making money from BSTG? Connecticut Childrens (hospital) who received $1 Million ($509,500.00 – paid) “gift” from BSTG ($490,500.00 is still owed) while it owned shares (which were exercised for warrant execution); James Schmerling, CEO of and a BSTG board of director (BOD) member also owned shares (which were each exercised for warrant execution) and the principal investigator, Dr. Christine Finck, MD who also owns shares (exercised?). Should a principal investigator own shares while remaining on the BSTG’s board of advisors – the ultimate validity and credibility of “sponsored” research?
Question#2: WHY do they NOT update their website as more of their leadership walks away? WHY do they NEED to misrepresent their management team re clinical and pre-clinical development?
Question#3: With Shunfu Hu as director of business development and operations; will these issues continue to AVOID US reporting? Is this a “faux pas” or a continuing irregularity perpetuated by the lack of transparency?
Questyion#4: Herman Sanchez as the new board member, how can you condone these multiple transparency “evasions” – isn’t BSTG all but broke with NO “runway”?
MINORITY PUBLIC shareholders are waiting, watching and weighing responses to MAINTAIN their RIGHTS.
The morning’s indications, from what I discern are in store:
Maintaining SELL into Strength:
- Applied Genetic Technologies (AGTC) closed down -$0.07 after Thursday’s +$0.13 after Wednesday’s +$0.22, Tuesday’s $0.38 and last Monday’s -$0.07 with a positive +$0.07 or +1.65% pre-market indication.
- Chinook Therapeutics (KDNY) closed up +$0.91 to $17.95 after Thursday’s $17.04, Wednesday’s $15.98, Tuesday’s $15.37 and last Monday’s $15.05 with NO aftermarket indication and a very “peaky” chart.
- Fate Therapeutics (FATE) closed up +$1.52 to $87.39 after Thursday’s -$6.22 to $85.87 after Wednesday’s $92.09, Tuesday’s $92.5 and last Monday’s $92.01 with a positive +$1.23 or +1.41% pre-market indication. Q1 earnings – Wednesday.
- Homology Medicine (FIXX) closed down -$0.10 to $6.77 after Thursday’s $6.87, Wednesday’s $6.97 6.97, Tuesday’s $6.89 and last Monday’s $6.90 with a positive +$0.14 or +2.07% pre-market indication.
- Intellia Therapeutics (NTLA) closed down -$3.31 to $76.77 after Thursday’s -$5.23 to $80.58, Wednesday’s $85.31, Tuesday’s $87.07 and last Monday’s $84.79 with a positive +$0.11 or +0.14% pre-market indication.
- MiMedx (MDXG) closed down -$0.48 to $9.70 after Thursday’s -$0.53 to $10.18, Wednesday’s +$0.23 to $10.71, Tuesday’s $10.48 and last Monday’s $10.63 with a negative -$0.02 or -0.21% aftermarket indication after reporting Q1 earnings.
- Mesoblast (MESO) closed up +$0.44 to $7.66 after Thursday’s -$0.10 to $7.22 with a negative -$0.22 or -2.87% pre-market indication.
BUY on bounce and news:
- Alnylam Pharmaceuticals (ALNY) closed up +$0.95 to $140.65 after announcing positive early results on clinical outcome measures from the 12-month analysis of ILLUMINATE-A Phase 3 study of OXLUMO® (lumasiran), an RNAi therapeutic targeting hydroxyacid oxidase 1 (HAO1) – the gene encoding glycolate oxidase (GO) – for the treatment of primary hyperoxaluria type 1 (PH1).
- CRISPR Indication (CRSP) closed down again -$0.61 to $131.27 after Thursday’s -$3.66, Wednesday’s +$2.50, Tuesday’s -$2.68 and last Monday’s +$9.17 with a positive +$0.61 or +0.46% pre-market indication.
- Editas Medicine (EDIT) closed down again -$0.36 to $37.01 after Thursday’s -$1.55 after Wednesday’s -$0.23, Tuesday’s $0.07, Monday’s -$2.17 and last Friday’s +$0.62 with a positive +$0.49 or +1.32% pre-market indication.
- Sage Therapeutics (SAGE) closed down -$0.12 to $78.76 after Thursday’s +$1.21, Wednesday’s -$0.11, Tuesday’s -$0.92 and last Monday’s +$1.93 with a negative -$0.49 or -0.62% aftermarket indication. Q1 earnings this week.
- Vericel (VCEL) closed up +$1.30 to $62.42 after Thursday’s $61.12, Wednesday’s $63.22, Tuesday’s $63.68 and last Monday’s $64.05 with a positive +$0.11 or +0.14% pre-market indication.
- bluebird bio (BLUE) closed down -$0.23 to $30.00 after Thursday’s -$0.16, Wednesday’s +$0.08, Tuesday’s -$0.01, Monday’s +$0.12 and last Friday’s +$0.06 with a positive +0.60 or +3% aftermarket indication;
The BOTTOM LINE: New month, an even newer share pricing “battle” due to earnings’ season reporting.
I haven’t been wrong in seeing trouble ahead in the markets and any prognostication could be somewhat difficult or unpleasant thus I anticipate hesitating until the overview comes clear before “biting the bullet".
At the moment, 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?
My 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.
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.