RegMed Investors’ (RMi) pre-open: the sell-off battered the sector for the third session this month

May 6, 2021 7:22am

Now it’s a game of pick-up sticks or stocks; will earnings’ season be able move a stock – yeah!

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

News: Applied Genetic Technologies (AGTC +$0.14 pre-market) reports positive 12-Month data from its highest dose groups in its ongoing XLRP P1/2 Clinical Trial

Earnings: Athersys (ATHX), Caladrius Biosciences (CLBS), CRISPR Therapeutics (CRSP), Intellia Therapeutics (NTLA)

Mentions: AGTC, ALNY, PGEN, BLUE, FATE, GBT, BSTG, NTLA, AXGN, EDIT, RGNX, RENE.L, SGMO

My version of the morning’s “indications” is written to be informative; it’s what could happen or materialize after the opening and what might happen during the session

Subscription is coming, it’s not conscription but, an offer to join our collective of like-minded investors! 

Dow futures are UP +0.08% (+29 points), S&P futures are UP +0.09% (+4 points) and NASDAQ futures are UP +0.09% (+12 points) – all slowly evolving!

U.S. stock index futures climbed barely changing early Thursday ahead of employment data release,

European markets were choppy having turned negative

Asia-Pacific stocks were up as markets in Japan and South Korea advanced on their return to trading after public holidays, while mainland Chinese shares declined.

Data Docket: initial jobless claims will be released on Thursday. Economists are expecting a print of 527,000. The data comes one day before April’s jobs report is released on Friday.

Henry’omics:

The S&P 500 closed 0.1% higher, while the Nasdaq dived 0.4% for its fourth straight negative session and longest daily losing streak since October. The S&P 500 is lower for the week, while the Dow is on track to break a two-week losing streak.

The Russell 1000 Value index has gained 16% this year, while the Russell 1000 Growth index has advanced 5%.

Q1/21 Earnings: six (6) yesterday <posted>: four (4) today

 https://www.regmedinvestors.com/articles/11628

Wednesday’s evening’s recap: “RegMed Investors’ (RMi) closing bell: the sector bounce-back was stifled by the close. As the cell and gene therapy sector closed negative for the third (3rd) session in the first (1st) week of May.” … https://www.regmedinvestors.com/articles/11897

• The Nasdaq closed DOWN -51.08 points (-0.37%);
• The IBB closed down -0.89% and XBI closed down -1.69%;
• Sector volume was LOW with 5 of the 12-upside having higher than the 3-month average volume with the volume of 4 of 23-downside having higher than the 3-month average volume;
• The CBOE Volatility Index (VVIX: INDEX) was down -0.33 point or -1.69% at 19.15;
• Wednesday’s percentage (%) of the 12-upside were +0.14% (MESO) to +9.12% (BLFS) while the 23-downside ranges from -0.28% (KDNY) to -8.54% (SGMO);

Q2/21:

May:  3 negative closes

April: 11 negative and 10 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 down again -$0.01 to $1.11 with 3,032 shares traded after Tuesday’s -$0.14 to $1.12 with 249 shares traded, Monday’s flat at $1.26 with 476 shares traded, Friday’s $1.26 with 1,009 shares traded and last Thursday’s $1.26 with3,302 shares traded.

Question#1: Why the “promote and pump” volume moves, is it about the about-to delist future?

Question#2: WHO still is employed, especially related to the management team?

Question#3: With only $1 million left in the “till” WHAT is the runway with a “spend” and “net cash in operations of $4 million during the year ended 12/ 31/20”. Don’t forget the PPP loan remaining as DEBT ($0.4 million).

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

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

SELL:

• Alnylam Pharmaceuticals (ALNY) closed up +$1.10 to $132.67 with a negative -$2.17 or -1.64% aftermarket indication.
• Precigen (PGEN) closed down -$0.45 to $5.61 with a negative -$0.11 or -1.16% aftermarket indication.

SELL after earnings:

• bluebird bio (BLUE) closed down -$0.69 to $29.21 with a negative -$0.01 or -0.08% pre-market indication.
• Fate Therapeutics (FATE) closed down -$2.00 to $77.73 with a negative -$2.93 or -3.77% aftermarket indication.
• Global Blood Therapeutics (GBT) closed up +$0.85 to $39.83 with a negative -$0.83 or -2.08% aftermarket indication.

SELL pre-earnings:

• Intellia Therapeutics (NTLA) closed down -$0.64 to $71.36 after Tuesday’s -$1.80 to $72.00, Monday’s -$2.97 to $73.80, Friday’s -$3.31 to $76.77 and last Thursday’s -$5.23 to $80.58 with a negative -$0.03 or -0.04% pre-market indication.

BUY on Bounce post earnings:

• AxoGen (AXGN) closed up +$0.42 to $19.64 with a positive +$0.42 or +2.14% aftermarket indication.
• Editas Medicine (EDIT) closed up +$0.06 to $34.72 with a positive +$0.09 or +0.26% aftermarket indication.
• Regenxbio (RGNX) closed down -$0.62 to $32.46 with a positive +$0.29 or +0.89% aftermarket indication.
• Sangamo Therapeutics (SGMO) closed down -$0.97 to $10.39 with a positive +$0.26 or +2.50% aftermarket indication.

BUY:

• Applied Genetic Technologies (AGTC) closed down -$0.02 to $3.86 and has a positive +$0.14 or +3.63% pre-market indication on positive news of 12-month data for Groups 5 and 6 evaluating durability of effect and continued safety at higher doses and 24-month data evaluating durability from a subset of Group 4 patients for its P1/2 clinical trial in patients with X-linked Retinitis Pigmentosa (XLRP)
• ReNeuron (RENE.L) closed up +$2.00 after Tuesday’s +$7.00 and has a positive indication of +$5.50 or +3.73% pre-market indication.

The BOTTOM LINE: What’s changed, new month, an even newer share pricing “battle” due to earnings’ season reporting.

Investor expectations are NOT high during “our’ sector earnings season.

I haven’t been wrong in seeing trouble ahead in the markets and any prognostication could be somewhat difficult or unpleasant.

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.