May 7, 2021 7:14pm

Or just an electronic trading buys on weakness?

Pre-open indication performance: 3 HITs and 3 MISS

The week in review ...

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The Dow closed UP +229.23 points (+0.66%); the S&P closed UP +30.98 points (+0.74%) while the Nasdaq closed UP +119.40 points (+0.88%)

 

Henry’omics:

Indexes jumped to record levels on Friday even after a disappointing April jobs report.

For the week, the Dow rallied 2.7% to break a two-week losing streak, the S&P 500 gained 1.2%, while the Nasdaq shed 1.5% this week.

An opinion: after the non-farm patrol numbers were reported, a slower hiring pace initated fears of a U.S. economy which is poised to lift on pent-up consumer demand which could increase inflation and force interest rates higher.

 

RegMed/Cell and Gene Therapy Earnings Scorecard Q1/21 LPS Results … to date: https://www.regmedinvestors.com/articles/11628

 

Data docket: The Labor Department said nonfarm payrolls increased by just 266,000 in April, far less than the 1 million total economists were expecting.

  • The unemployment rate rose to 6.1% last month amid an escalating shortage of available workers, higher than an expectation of 5.8%.
  • March originally estimated total of 916,000 was revised down to 770,000.

 

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

  • Friday opened positive at 28/5, 1 flat and 1 acquired, strayed neutral at the mid-day to17/17, and 1 acquired, closing positive at 18/14, 2 flat and 1 acquired;
  • Thursday opened negative at 6/26, 2 flats and 1 acquired, stayed negative at the mid-day to 8/25, 1 flat and 1 acquired, closing negative at 12/2 and 1 acquired;
  • Wednesday opened positive at 21/11, 2 flats and 1 acquired, stayed positive at the mid-day to 20/14, 1 flat and 1 acquired, closing negative at 12/23 and 1 acquired;
  • Tuesday opened negative at 12/32, 1 flat and 1 acquired, stayed negative at the mid-day to 1/32, 1 flat and 1 acquired, closing negative at 2/32 and 1 acquired;
  • Monday opened negative at 12/21, 2 flat and 1 acquired, stayed negative at the mid-day to 8/24, 2 flats and 1 acquired, closing negative at 9/23, 2 flats and 1 acquired;

 

RegMed Investors’ (RMi) pre-open: “RegMed Investors’ (RMi) pre-open: a session of share pricing chance. The sector is what it is, until it isn’t and even then, it doesn’t seem to be … when you point one finger, there are three fingers pointing back at you!” … https://www.regmedinvestors.com/articles/11900

 

Pre-open indication results:  3 HITs Intellia Therapeutics (NTLA +$0.10), ReNeuron (RENE.L -$1.00); Applied Genetic Technologies (AGTC +$0.18), > and 3 MISS < Editas Medicine (EDIT +$0.13), Biostage (BSTG +$0.02 at $1.15 with 2,346shares traded – another share “pump and promote” move), bluebird bio (BLUE +$0.75)>

 

There are clear winners and losers

Jumping with share pricing momentum:

  • AxoGen (AXGN), Cellectis SA (CLLS), Regenxbio (RGNX), Applied Genetic Technologies (AGTC), BioLife Solutions (BLFS) to name 5 of the 18 inclining of the 35 covered

Hammered in today’s market:

  • Ultragenyx (RARE), ReNeuron (RENE.L), Chinook Therapeutics (KDNY), Alnylam pharmaceuticals (ALNY), Ionis Pharmaceuticals (IONS) to name 5 of the 14 declining of the 35 covered

 

Key metrics:

  • Sector volume was LOW with 4 of the 18-upside having higher than the 3-month average volume with the volume of 4 of 14-downside having higher than the 3-month average volume;
  • Friday’s percentage (%) of the 18-upside were +0.66% (CLBS) to +6.38% (AXGN) while the 14-downside ranges from -0.08% (FATE) to -5.57% (KDNY);

 

Friday’s (10 of 18) incliners:

  • Sage Therapeutics (SAGE +$3.00 after +$1.27);
  • Regenxbio (RGNX +$1.59 after Thursday’ s +$2.22 and Wednesday’s -$0.62);
  • AxoGen (AXGN +$1.41 after Thursday’s +$2.45 and Wednesday’s +$0.42);
  • BioLife Solutions (BLFS +$1.27 after Thursday’s -$1.80, Wednesday’s +$2.69, Tuesday’s -$5.56 and Monday’s +$0.17);
  • Intellia Therapeutics (NTLA +$1.26 after Thursday’s -$4.88, Wednesday’s -$0.64, Tuesday’s -$1.80 after Monday’s -$2.97);
  • bluebird bio (BLUE+$0.81 after Thursday’s +$0.46, Wednesday’s -$0.69 and Tuesday’s +0.30);
  • Cellectis SA (CLLS +$0.77 after Thursday’s -$1.41);
  • Global Blood Therapeutics (GBT +$0.39);
  • Homology Medicine (FIXX +$0.25);
  • MiMedx (MDXG +$0.22);

Friday’s (10 of 14) decliners:

  • Ultragenyx (RARE -$1.18 after Thursday’s +$9.70, Wednesday’s +$4.16, Tuesday’s -$4.66 and Monday’s -$5.13);
  • ReNeuron (RENE.L -$1.00 after Thursday’s +$1.00, Wednesday’s +$2.00, Tuesday’s +$7.00 and Monday’s -$5.00)
  • Chinook Therapeutics (KDNY -$0.96 after Thursday’s -$0.48);
  • Alnylam Pharmaceuticals (ALNY -$0.80 after Thursday’s -$0.57, Wednesday’s +$1.10, Tuesday’s -$3.77 and Monday’s -$5.30);
  • Ionis Pharmaceuticals (IONS -$0.79 after Thursday’s -$2.56 and Wednesday’s -$2.09);
  • Vericel (VCEL -$0.45 after Thursday’s -$3.49, Wednesday’s -$2.56 and Tuesday’s -$2.91);
  • uniQure NV (QURE -$0.31 after Thursday’s +$2.38, Wednesday’s -$0.47 and Tuesday’s -$2.31);
  • Editas Medicine (EDIT -$0.23);
  • CRISPR Therapeutics (CRSP -$0.14 after Thursday’s -$6.06, Wednesday’s -$1.83, Tuesday’s -$7.08 and Monday’s -$8.46);
  • Precigen (PGEN -$0.10 after Thursday’s +$0.03 after Wednesday’s -$0.45);

Closing: 2 - Brainstorm Cell Therapeutics (BCLI), Verastem (VSTM) and 1 - Stemline Therapeutics (STML – acquired)

 

COVID-19 updates:

  • More than 70% of Americans aged 65 years and older are fully vaccinated, according to CDC data published Wednesday. The country has reported an average of 2.1 million vaccinations per day over the past week, down from a peak of 3.4 million in mid-April. Daily U.S. case counts continue to fall, with the seven-day average down 11% from a week ago. <CNBC>

Monday’s COVID Data Tracker <Million>:

  • Cases: 32,4 M
  • Death rate totaled 577,041 <Johns Hopkins University>
  • Vaccinations:  255 M <About 2 in 5 American adults are now fully vaccinated>

 

Stats:

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

  • Friday, the IBB closed up +$0.88% and XBI closed up +1.63%
  • Thursday, the IBB closed down -0.36% and XBI closed down -1.51%
  • Wednesday, the IBB closed down -0.89% and XBI closed down -1.69%
  • Tuesday, the IBB closed down -2.84% and XBI closed down -3.84%
  • Monday, the IBB closed up +0.01% and XBI closed down -1.19%

 

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Friday was down -1.70 point or -9.24% at 16.69
  • Thursday was down -0.76point or -3.97% at 18.39
  • Wednesday was down -0.33 point or -1.69% at 19.15
  • Tuesday was up +1.17 points or +6.39% at 19.48
  • Monday was down -0.30 points or -1.61% at 18.31

 

Upside volume: low

  • Friday: 4 out of the 18-upside had higher than the 3-month average volume;
  • Thursday: 7 out of the 12-upside had higher than the 3-month average volume;
  • Wednesday: 5 out of the 12-upside had higher than the 3-month average volume;
  • Tuesday: 1 out of the 2-upside had higher than the 3-month average volume;
  • Monday: 1 out of the 9-upside had higher than the 3-month average volume;

 

Downside volume: low

  • Friday: 4 out of the 14-downside had higher than the 3-month average volume;
  • Thursday: 9 out of the 22-downside had higher than the 3-month average volume;
  • Wednesday: 4 out of the 23-downside had higher than the 3-month average volume;
  • Tuesday: 11 out of the 32-downside had higher than the 3-month average volume;
  • Monday: 3 out of the 23-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 18-upside were +0.66% (CLBS) to +6.38% (AXGN) while the 14-downside ranges from -0.08% (FATE) to -5.57% (KDNY);
  • Thursday’s percentage (%) of the 12-upside were +0.10% (SGM)) to +12.47% (AXGN) while the 22-downside ranges from -0.31% (BCLI) to -8.32% (CLLS);
  • 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);
  • Tuesday’s percentage (%) of the 2-upside were +1.01% (BLUE) to +5.05% (RENE.L) while the 32-downside ranges from -0.67% (AXGN) to -15.85% (BLFS);
  • Monday’s percentage (%) of the 9-upside were +0.25% (SAGE) to +5.74% (KDNY) while the 23-downside ranges from -0.58% (VCEL) to -6.44% (CRSP);

 

May, second month of Q2/21:

Friday closed positive with 18 advancers, 14 decliners and 1 acquired

Thursday closed negative with 12 advancers, 22 decliners and 1 acquired

Wednesday closed negative with 12 advancers, 23 decliners and 1 acquired

Tuesday closed negative with 2 advancers, 32 decliners and 1 acquired

Monday (5/3) closed negative with 9 advancers, 23 decliners, 2 flats and 1 acquired

 

The BOTTOM LINE: Yesterday I stated, I’d be digging into a couple of sector bottoms and my morning title “slim upside sector pickings” kind of but, did NOT fully estimate the negative response to electronic buying versus investors.

See earnings review: https://www.regmedinvestors.com/articles/11628

Sector momentum remains TOO “fluid” and any pricing more uncertain as earnings’ season LPS (loss-per-share) declines induce more downside risks but, hopefully a few 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.