July 3, 2021 12:36pm

The week in review ...

The U.S. markets will be closed on Monday for the July 4th holiday

Pre-open indications: 4 HITs and 1 MISS

My comments try to distinguish the temporary from real pricing digression or progress.

If you’re looking for sector intel, ideas and facts or numbers (which don’t lie) in a volatile climate, RMi defines the rigors of share pricing! My comments distinguish the temporary from real pricing digression or progress.

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The Dow closed UP +152.82 points (+0.44%); the S&P closed UP +32.40 points (+0.75%) while the Nasdaq closed UP +116.95 points (+0.81%)

 

Henry’omics:

Indexes rose on Friday and the S&P 500 hit another record high after the June jobs report showed an accelerating recovery for the U.S. labor market.

I said it was coming as the Russell 2000 slipped 1% on Friday to finish negative for the week.

Sorry late in publishing, too busy blowing-out all those candles on the cake!

 

Data Docket: There were weak spots in the jobs report, including a slight uptick in the U.S. unemployment rate. Data showed U.S. job growth accelerated in June as nonfarm payrolls increased by 850,000 jobs after rising by 583,000 in May, although the unemployment rate rose to 5.9% from 5.8% the previous month.

  • U.S. employment remains about 6.8 million jobs below its peak in February 2020. There are a record 9.3 million job openings.

 

RegMed Investors’ (RMi) pre-open: “awaiting the jobs report and how many payrolls American employers added last month. I’ve already mentally bolted for the long weekend and upcoming week” …  https://www.regmedinvestors.com/articles/11983

 

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

  • Friday opened negative at 3/30, 1 flat and 1 acquired stayed negative at the mid-day at 7/27, and 1 acquired, closing negative at 9/24, 1 flat and 1 acquired;
  • Thursday opened positive at 19/11, 4 flats and 1 acquired stayed positive at the mid-day at 21/13, 3 flats and 1 acquired, closing positive at 25/8, 1 flat and 1 acquired;
  • Wednesday was positive at the mid-day at 19/12, 3 flats and 1 acquired, closing barely negative at 16/17, 1 flat and 1 acquired;
  • Tuesday opened negative at 12/21, 1 flat and 1 acquired, stayed negative at the mid-day to 5/28, 1 flat and 1 acquired, closing negative at 6/28 and 1 acquired;
  • Monday opened positive at 22/12 and 1 acquired, stayed positive at the mid-day to 18/16 and 1 acquired, closing positive at 18/15, 1 flat and 1 acquired;

 

The Biostage (BSTG) Chronicles: The “pump” is STILL promoting on Friday as 1,974 share were expended to close -$0.00 TO CLOSE AT $1.35 after Thursday with 408 shares “ “appearing” to boost the share price +$0.095 to $1.35 after Wednesday’s -$0.005 (was -$0.11) to $1.25 with 3,241 shares traded after Tuesday as 1,860 shares “appeared” as the share price was sinking -$0.07 to lift it +$0.03 after Monday’s 1,177 shares trading and the share price dripped -$0.02 to $1.23 and last Friday’s 1,600 shares traded as the stock dropped -$0.10 to $1.25 … WHO is buying this “zombie pig” as IF we didn’t know?  After yet another warrant execution and ever-increasing UN-REGIGISTERED share DILUTION with the potential THREAT is of de-listing if the share price was to trade without the “pump” below $1.00?

 

Pre-open Indications: 4 HITs < Maintaining SELL: Biostage (BSTG -$0.00); BUY: Ultragenyx (RARE +$0.10), Intellia Therapeutics (NTLA -$7.94), Editas Medicine (EDIT -$1.62)> and 1 MISS < CRISPR Therapeutics (CRSP -$0.76),>

 

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

 

There are clear winners and losers

Jumping with share pricing momentum:

  • ReNeuron (RENE.L), Alnylam Pharmaceuticals (ALNY), BioLife Solutions (BLFS), Mesoblast (MESO), Regenxbio (RGNX), Applied Genetic Technologies (AGTC) to name 5 of the 9 inclining of the 35

Hammered in today’s market:

  • Intellia Therapeutics (NTLA), Global Blood Therapeutics (GBT), Editas Medicine (EDIT), Fate Therapeutics (FATE), Sage Therapeutics (Sage) to name 5 of the 24 declining of the 35 covered

 

Key metrics:

  • Sector volume was LOW with 1 of the 9-upside having higher than the 3-month average volume with LOW volume of 4 of 24-downside having higher than the 3-month average volume;
  • Friday’s percentage (%) of the 9-upside were +0.11% (RARE) to +2.49% (AGTC) while the 24-downside ranges from -0.21% (KDNY) to -7.90% (GBT);

 

Friday’s (9 of 9) incliners:

  • ReNeuron (RENE.L +$2.50 after Thursday’s +$2.00, Wednesday’s +$1.50, Tuesday’s -$3.50 and Monday’s +$0.50);
  • Alnylam Pharmaceuticals (ALNY +$1.68);
  • BioLife Solutions (BLFS +$0.56);
  • Mesoblast (MESO +$0.17);
  • Regenxbio (RGNX +$0.15 after Thursday’s +$0.74, Wednesday’s +$0.41, Tuesday’s -$0.54 and Monday’s -$1.50);
  • Applied Genetic Technologies (AGTC +$0.10);
  • Ultragenyx (RARE +$0.10 after Thursday’s -$1.24 and Wednesday’s -$0.94);
  • Voyager Therapeutics (VYGR +$0.04 after Thursday’s -$0.05);
  • Pluristem (PSTI +$0.01 after Thursday’s -$0.01);

Friday’s (10 of 24) decliners:

  • Intellia therapeutics (NTLA -$7.94 after Thursday’s +$9.74, Wednesday’s +$10.30, Tuesday’s +$18.18 and Monday’s +$44.60);
  • Global Blood Therapeutics (GBT -$2.95 after Thursday’s +$2.32, Wednesday’s +$2.56, Tuesday’s -$0.73 and Monday’s -$3.25);
  • Editas Medicine (EDIT -$1.62 after Thursday’s -$0.12, Wednesday’s +$10.54, Tuesday’s +$2.11 and Monday’s +$2.11);
  • Fate Therapeutics (FATE -$1.49 after Thursday’s +$7.50, Wednesday’s -$2.37, Tuesday’s +$0.04 and Monday’s +$4.57);
  • Sage Therapeutics (SAGE -$1.32 after Thursday’s +$0.56, Wednesday’s +$0.43, Tuesday’s -$0.82 and Monday’s -$1.14);
  • bluebird bio (BLUE -$1.05 after Thursday’s +$0.44, Wednesday’s +$1.90 and Tuesday’s -$1.09);
  • Cellectis SA (CLLS -$0.93 after Thursday’s +$0.62);
  • Vericel (VCEL -$0.86);
  • uniQure NV (QURE -$0.76 after Thursday’s +$0.46 and Wednesday’s -$0.39);
  • CRISPR Therapeutics (CRSP -$0.76 after Thursday’s -$5.25, Wednesday’s +$11.40, Tuesday’s -$1.14 and Monday’s +$9.11);
  • Brainstorm cell Therapeutics (BCLI -$0.01);

Closing 1 – Biostage (BSTG) and 1 - Stemline Therapeutics (STML) – acquired

 

Stats:

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

  • Friday, the IBB closed down -0.22% and XBI closed down -2.42%
  • Thursday, the IBB closed up +0.89% and XBI closed up +2.28%
  • Wednesday, the IBB closed up +0.03% and XBI closed down -0.25%
  • Tuesday, the IBB closed up +0.14% and XBI closed down -1.53%
  • Monday, the IBB closed up +0.15% and XBI closed down -0.60%

 

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Friday was down -0.41 points or -2.65% at 15.07
  • Thursday was down -0.35 points or -2.21% at 15.48
  • Wednesday was down -0.19 points or -1.19% at 15.83
  • Tuesday was up +0.26 points or +1.65% at 16.02
  • Monday was up +0.14 points or +0.90% at 15.76

 

Upside volume: weak

  • Friday: 1 out of the 9-upside had higher than the 3-month average volume;
  • 7/1 - Thursday: 5 out of the 25-upside had higher than the 3-month average volume;
  • Wednesday: 4 out of the 6-upside had higher than the 3-month average volume;
  • Tuesday: 4 out of the 6-upside had higher than the 3-month average volume;
  • Monday: 10 out of the 18-upside had higher than the 3-month average volume;

 

Downside volume:

  • Friday: 4 out of the 24-downside had higher than the 3-month average volume;
  • 7/1 - Thursday: 3 out of the 8-downside had higher than the 3-month average volume;
  • Wednesday: 7 out of the 28-downside had higher than the 3-month average volume;
  • Tuesday: 7 out of the 28-downside had higher than the 3-month average volume;
  • Monday: 4 out of the 15-downside had higher than the 3-month average volume;

 

Percentage (%) movement/range statistics: price versus percentage …

  • Friday’s percentage (%) of the 9-upside were +0.11% (RARE) to +2.49% (AGTC) while the 24-downside ranges from -0.21% (KDNY) to -7.90% (GBT);
  • 7/1 -Thursday’s percentage (%) of the 25-upside were +0.14% (ALNY) to +8.64% (FATE) while the 8-downside ranges from -0.21% (EDIT) to -3.24% (CRSP);
  • Wednesday’s percentage (%) of the 16-upside were +0.25% (VSTM) to +22.86% (EDIT) while the 17-downside ranges from -0.08% (MDXG) to -9.12% (VCEL);
  • Tuesday’s percentage (%) of the 6-upside were +0.04% (FATE) to +13.63% (NTLA) while the 28-downside ranges from -0.11% (RARE) to -14.81% (VCEL);
  • Monday’s percentage (%) of the 18-upside were +0.10% (IONS) to +50.21% (NTLA) while the 15-downside ranges from -0.27% (FIXX) to -8.92% (GBT);

 

July, first month of Q3/21:

Friday closed negative with 9 advancers, 24 decliners, 1 flat and 1 acquired

Thursday (7/1) closed positive with 25 advancers, 8 decliners, 1 flat and 1 acquired

Wednesday negative with 16 advancers, 17 decliners, 1 flat and 1 acquired

Tuesday closed negative with 6 advancers, 28 decliners and 1 acquired

Monday closed positive with 18 advancers, 15 decliners, 1 flat and 1 acquired

 

The BOTTOM LINE:  The sector was torn from any upside from profiteering on fears of risk, clinical news and market forces.

Don’t forget there is a long holiday weekend, many equites were bitten and nine (9) survived?

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!”

Let's hope July can go forth on a crooked path but, apositive route and be careful of a long, hot, volatile summer.

 

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.

Regulation Analyst Certification ("Reg AC"): The research analyst primarily responsible for the content of this report certifies the following under Reg AC: I hereby certify that all views expressed in this report accurately reflect my personal views about the subject company or companies and its or their securities. I also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.