October 12, 2021 8:04am

There are a lot of headwinds out there

News: Intellia therapeutics (NTLA) presents preclinical data and new developments highlighting both allogeneic T cell therapy platform as well as the utilization of lipid nanoparticle-based delivery of the CRISPR/Cas9 gene editing components

Pre-open indications: 4 SELLs into Strength and 1 Pump (or No Promote)

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 DOWN -0.02% (-8 points), S&P futures are UP +0.04% (+2 point) and NASDAQ futures are UP +0.20% (+30 point)

 

Stock futures were mixed and meager pre-market on Tuesday,

European stocks were mostly lower,

Asia-Pacific stocks tumbled with major indexes from Japan to Hong Kong falling at least 1%.

 

Henry’omics:

Yesterday, the market suffered losses to start the week with the Dow diving 250 points (-0.72), the S&P 500 fell -30.15 points (-0.69%), while the Nasdaq dipped 93.34 points (-0.64%).

 

Economic data Docket: The Labor Department releases its Job Openings and Labor Turnover Survey. Economists expect 10.9 million job openings in August, unchanged from the total in July. Stocks fell on Friday after a disappointing jobs report.

 

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

Q4: October, 3 positive and 4 negative closes

Q3/21:

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

 

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

SELL with a Pump or no promote:

Biostage (BSTG) closed flat on Monday after Friday’s $0.00 (flat) with 32 shares traded following Thursday’s +$0.19 to $3.21 with 612 shares traded after Wednesday’s -$0.02 to $3.02 after last Tuesday’s -$0.59.

  • For a company with NO clinical trial, an a one (1) and a half year approved IND, four (4) employees and NO CRO <clinical research organization> initiation. What’s there to invest in – the “Sword of Damocles” hanging over its recent insurance company rejection of legal expense/costs of a terminal death suit against the company?

SELL into Strength:


CRISPR Therapeutics (CRSP) closed up +$2.02 to $100.65 after Friday’s -$4.36 to $98.63, Thursday’s +$1.00 to $102.99, Wednesday’s -$0.50 to $101.99 and last Tuesday’s $102.49 with a positive +$0.34 or +0.34% pre-market indication.

Editas Medicine (EDIT) closed up +$1.03 to $36.64 with a positive +$0.36 or +0.98% pre-market indication.

Intellia Therapeutics (NTLA) closed up +$5.22 to $125.93 after Friday’s -$14.07 to $120.7, with a positive +$1.27 or +1.01% pre-market indication.

ReNeuron (RENE.L) closed up $20.70 to $115.50 after Friday’s +$2.30 at $94.80 with a negative -$0.65 or -0.56% pre-market indication.

 

The BOTTOM LINE:  I am STILL NOT taking any action until the market’s direction is confirmed and as goes the stem cell and gene therapy sector.

Theme is too much uncertainty, what’s more likely to me is skepticism …

Sector stocks have traded choppily over the past several weeks as investors contemplated the implications of ongoing price increases (i.e., inflation) against a backdrop of decelerating economic growth.

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.