May 12, 2021 5:29pm

I keep looking for the batter/buyers, hopefully missing the strike-out/electronic sellers and wondering where the incentive to touch base is or was

Pre-open indication performance: 7 HITs and 3 MISS

Earnings: Chinook Therapeutics (KDNY)

Earnings, this week: Thursday: BioLife Solutions (BLFS), Friday: Solid Biosciences (SLDB)

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The Dow closed DOWN -681.50 points (-1.99%); the S&P closed DOWN -89.06 points (-2.14%) while the Nasdaq closed DOWN -357.74 points (-2.67%)

 

Henry’omics:

Indexes declined sharply on Wednesday, led to the downside by technology shares as key inflation data showed higher-than-expected price pressures.

  • The selling intensified after the S&P 500 fell below Tuesday’s low, a level that traders were watching closely because of the intraday rebound one day ago. Once the S&P fell below that low about an hour into the trading day, the benchmark fell even further. <CNBC>

Inflation accelerated at its fastest pace since 2008 last month with the Consumer Price Index spiking 4.2% from a year ago, compared to an estimate for a 3.6% increase. The monthly gain was 0.8%, versus the expected 0.2%. Excluding volatile food and energy prices, the core CPI increased 3% from the same period in 2020 and 0.9% on a monthly basis. The respective estimates were 2.3% and 0.3%. <CNBC>

 

Data Docket: Excluding volatile food and energy prices, the core CPI increased 3% from the same period in 2020 and 0.9% on a monthly basis. The respective estimates were 2.3% and 0.3%.

 

RegMed Investors’ (RMi) pre-open: “as futures slip, who’s headed up, which’s headed down and when is this sector extra inning’s chaos coming to a halt. Not quite Abbott and Costello, the words alone cannot do it justice.” … https://www.regmedinvestors.com/articles/11907  

 

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

  • Wednesday opened negative at 9/21, 4 flats and 1 acquired, flipped neutral at the mid-day to 17/17, 1 flat and1 acquired, closing negative at 10/23, 1 flat and 1 acquired;

 

Pre-open indication results:  7 HITs < Applied Genetic Technology (AGTC +$0.08), Cellectis SA (CLLS -$0.60), Global Blood Therapeutics (GBT -$1.19), Ionis Pharmaceuticals (IONS +$0.62), Mesoblast (MESO -$0.07), Intellia Therapeutics (NTLA -$2.17), ReNeuron (RENE.L -$1.00) and 3 MISS < Biostage (BSTG +$0.05 at $1.33 with 456 shares traded), bluebird bio (BLUE +$0.35), Voyager Therapeutics (VYGR +$0.07),

 

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

 

There are clear winners and losers

Jumping with share pricing momentum:

  • Alnylam Pharmaceuticals (ALNY), Sage Therapeutics (SAGE), Ionis Pharmaceuticals (IONS), bluebird bio (BLUE), Precigen (PGEN) to name 5 of the 10 inclining of the 35 covered

Hammered in today’s market:

  • Fate Therapeutics (FATE), CRISPR Therapeutics (CRSP), Vericel (VCEL), Ultragenyx (RARE), Intellia Therapeutics (NTLA) to name 5 of the 23 declining of the 35 covered

 

Key metrics:

  • Sector volume was LOW with 4 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;
  • Wednesday’s percentage (%) of the 10-upside were +0.72% (ALNY) to +8.01% (BCLI) while the 23-downside ranges from -0.38% (SAGE) to -7.32% (FATE);

 

Wednesday’s (10 of 10) incliners:

  • Alnylam Pharmaceuticals (ALNY +$0.95 after Tuesday’s +$3.78 and Monday’s -$2.67);
  • Ionis Pharmaceuticals (IONS +$0.62);
  • bluebird bio (BLUE +$0.35 after Tuesday’s +$1.10 and Monday’s -$2.08);
  • Precigen (PGEN +$0.28);
  • Brainstorm Cell therapeutics (BCLI +$0.25);
  • Adverum Biotechnologies (ADVM -$0.12);
  • Adverum Biotechnologies (ADVM +$0.08 after Tuesday’s -$0.12);
  • Applied Genetic Technologies (AGTC +$0.08 after Tuesday’s -$0.13);
  • Voyager Therapeutics (VYGR +$0.09);
  • Homology Medicine (FIXX +$0.07);
  • Biostage (BSTG +$0.05);

Wednesday’s (10 of 23) decliners:

  • Fate Therapeutics (FATE -$5.71 after Tuesday’s +$2.29);
  • Vericel (VCEL -$2.81);
  • CRISPR Therapeutics (CRSP -$2.70 after Tuesday’s +$2.08 and Monday’s -$6.24);
  • Intellia Therapeutics (NTLA -$2.17 after Tuesday’s +$5.14 and Monday’s -$6.71);
  • Ultragenyx (RARE -$2.08 after Tuesday’s -$0.77 and Monday’s -$5.28);
  • BioLife Solutions (BLFS -$1.29 after Tuesday’s +$0.77);
  • Global Blood Therapeutics (GBT -$1.19);
  • Editas Medicine (EDIT -$1.08 after Tuesday’s +$1.51 and Monday’s -$2.82);
  • ReNeuron (RENE.L -$1.00 after Tuesday’s -$14.00 and Monday’s -$0.50)
  • UniQure NV (QURE -$0.82 after Tuesday’s +$0.54);

Closing 1 – Pluristem (PSTI) and 1 - Stemline Therapeutics (STML – acquired)

 

COVID-19 updates:

  • The rate of new Covid cases in the U.S. fell to an average of 38,800 per day Monday, the first-time daily case counts have been below 40,000 since September. Federal data found the country is averaging 2.1 million reported vaccinations per day, down 37% from its peak level but showing signs of steadying in recent days.

Wednesday’s COVID Data Tracker <Million>:

  • Cases: 33,5 M
  • Death rate totaled 597,160 <Johns Hopkins University>
  • Vaccinations:  58.7% <About 2 in 5 American adults are now fully vaccinated>

 

Stats:

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

  • Wednesday, the IBB closed down -1% and XBI closed down -0.78%

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Wednesday was up +5.75 point or +5.75% to 27.59

Upside volume: low

  • Wednesday: 4 out of the 10-upside had higher than the 3-month average volume;

Downside volume: low

  • Wednesday: 2 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

  • Wednesday’s percentage (%) of the 10-upside were +0.72% (ALNY) to +8.01% (BCLI) while the 23-downside ranges from -0.38% (SAGE) to -7.32% (FATE);

 

May, second month of Q2/21:

Wednesday closed negative with 10 advancers, 23 decliners, 1 flat and 1 acquired

Tuesday closed positive with 23 advancers, 10 decliners, 1 flat and 1 acquired

Monday (5/10) closed negative with 3 advancers, 30 decliners, 1 flat and 1 acquired

 

The BOTTOM LINE:  Reiterating, the cell and gene therapy sector has been experiencing “whiplash which is more than an event or an accident”.

What changes or can add, another session of “slim pickings” in the upside/downside sector.

Reiterating, sector momentum remains TOO “fluid” leaving share 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.