September 30, 2021 7:40am

Month and quarter’s end has its liabilities

The Biostage (BSTG) Chronicle: negligence? <read more>

Pre-open indications: 5 BUYs and 2 SELLs

Remember that overnight and pre-open actions in futures doesn't necessarily translate into actual trading in the coming day’s session.

Dow futures are UP +0.46% (+158 points), S&P futures are UP +0.44% (+19 point) and NASDAQ futures are UP +0.52% (+77 point)

 

U.S. stock index futures jumped during early morning trading on Thursday

European stocks were higher

Asia-Pacific stocks traded mixed as investors reacted to the release of the below estimate Chinese factory activity data for September.

 

Henry’omics:

Investors are also monitoring the latest headlines out of Washington and its more than a mess – a disaster.

The Nasdaq declined 0.24% for its fourth straight negative session. The decline came as the 10-year Treasury yield hit a high of 1.56% on Wednesday, after rising to 1.567% on Tuesday.

 

Economic data Docket: initial jobless claims for the prior week will be released. Economists are expecting a print of 335,000. The Bureau of Economic Analysis will also release its third (3rd) estimate for Q2 GDP.

 

If you didn’t remember what happen at Wednesday night’s close and the quarter’s “number’s” impact, you won’t be prepared for today’s session:

Q3/21:

  • September, 1 holiday, 10 positive and 9 negative close
  • August - 12 positive and 10 negative close
  • July: 6 positives, 1 holiday and 15 negative closes

 

Q2/21 Earnings releases … https://www.regmedinvestors.com/articles/11542  … to date:

 

Companies in my headlights – It’s your decision; I provide an idea and context:

Biostage (BSTG): Maintaining SELL:

The “pump/promote” is back …

Wednesday closed down -$0.72 with 1,273 shares traded after Tuesday closed up +$0.48 with 1,251 shares traded, Monday closed flat with 135 shares traded, Friday closed flat at 3.26 with 62 shares traded, Thursday closed up +$0.06 with 839 shares traded, and last Wednesday closed down -$0.45 with 3,833 shares traded, the previous Tuesday’s +$0.25 with 654 shares traded and Monday closing down -$0.26 to $3.40 with 563 shares traded.

The Biostage (BSTG) Chronicles: wrongful death law suit, insurance claim denied … https://www.regmedinvestors.com/articles/12110

  • Question#1: Could negligence (not turning over documents and a sanction being initiated) be the reason BSTG’s insurance company dropped coverage and legal reimbursement for the terminal death suit legal costs?
  • Question#2: Board members and officers are fiduciaries, and by statutory and common law mandate, they must act with the utmost responsibility having a fiduciary duty to exercise due care in how they manage a corporation's affairs and also have the duty of loyalty and obedience to the corporation.
  • Question#3: Will they be held responsible … for letting this all happen?

When a court determines whether there has been a breach of fiduciary duty, what factors may be considered? There are circumstances that make a director liable to the corporation, and sometimes to its creditors, shareholders, or other people, for any losses caused by their inability or failure to exercise due care. A director typically breaches his or her duty in one of two ways:

  • Committing an overt act that constitute mismanagement
  • No action can also be construed as a failure to direct

 

BUY:

bluebird bio (BLUE) closed down -$0.62 to $18.98 after Tuesday’s $19.60 and Monday’s $19.33 with a positive +$1.02 or +5.37% aftermarket indication

CRISP Therapeutics (CRSP) closed down -$1.95 to $110.20 after Tuesday’s -$5.11 to $112.15, Monday’s +$0.83 to $117.26, Friday’s -$4.82 to $116.43 and last Thursday’s +$3.44 to $121.25 with a positive +$1.64 or +1.49% pre-market indication.

Editas Medicine (EDIT) closed down -$9.95 to $42.50 after Tuesday’s -$5.39 to $52.45, Monday’s -$0.87 to $57.84, Friday’s -$3.36 to $58.71 and last Thursday’s +$2.96 to $62.07 with a positive +0.04 or +0.09% pre-market indication

Ionis Pharmaceuticals (IONS) closed down -$0.78 to $33.58 after Tuesday’s $34.36 and Monday’s $35.87 with a positive +$0.32 or +0.95% pre-market indication. A bouncer …?

Intellia Therapeutics (NTLA) closed down -$1.85 to $137.56 after Tuesday’s $139.41 and Monday’s $147.58 with a positive +$1.24 or +0.90% pre-market indication.

 

SELL:

Global Blood Therapeutics (GBT) closed down -$0.75 to $25.80 after Tuesday’s +$0.65 to $26.22, Monday’s $26.22 with a negative -$0.11 or +0.43% pre-open indication.

 

The BOTTOM LINE: as the month and quarter ends, this week is a period of volatility.

Not yielding in my thoughts, I keep reinforcing that increased stock market volatility suppresses the stem, cell and gene therapy sector.

I maintain, the recent stem, cell and gene therapy sector investors should be a bit more defensive, limiting new buys and perhaps curtailing overexposure to electronic trading risks.

Theme is uncertainty, more likely to me: skepticism …

RMi’s daily report is a primer that may say little or a lot; yet it serves as insurance that all indications are being examined and evaluated.

 

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.

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.

Henry McCusker, the editor and publisher of RegMed Investors does not hold or have positions in securities referred to in this publication.