October 26, 2021 5:01pm

Pre earnings releases progresses share pricing squeezes

News:  Precigen (PGEN) the FDA has cleared the IND application to initiate the P1/1b clinical trial of PRGN-3007 in advanced receptor tyrosine kinase-like orphan receptor 1-positive (ROR1+) hematological and solid tumors.

Pre-open indication results: 8 Hit and 0 MISS

My version of the session’s “indications” is about what you need to know; it’s what did happen after the opening, mid-day and to the close

An objective, fact and numbers-based narrative – check the numbers!

The Dow closed UP +15.73 points (+0.04%); the S&P closed UP +8.31 points (+0.18%) while the Nasdaq closed UP +9.01 points (+0.06%)

 

Henry’omics:

Indexes climbed to record levels leveling to lows mid-day on Tuesday

The Nasdaq was up 0.1%, the S&P 500 rose 0.2% and the Dow added 0.4%. Small caps tracked by the Russell 2000 were down -0.7%. Volume was higher on both major exchanges vs. the same time Monday

Gains in ReNeuron (RENE.L +$4.00), BioLife Solutions (BLFS +$1.99), Fate Therapeutics (FATE +$1.15) and Ultragenyx Pharmaceuticals (RARE +$0.81), and AxoGen (AXGN +$0.31) and a four (4) other sector names helped “our” universe not be a rout.

 

News (continued): PRGN-3007 is an investigational therapy based on the next generation of PGEN's UltraCAR-T® platform and incorporates intrinsic programmed cell death protein 1 (PD-1) blockade.

  • ROR1 is overexpressed in various cancers with minimal expression in healthy adult tissues. ROR1 is aberrantly expressed in multiple hematological tumors, including chronic lymphocytic leukemia (CLL), mantle cell leukemia (MCL), acute lymphoblastic leukemia (ALL), and diffuse large B-cell lymphoma (DLBCL) and solid tumors, including breast adenocarcinomas encompassing triple negative breast cancer (TNBC), pancreatic cancer, ovarian cancer, and lung adenocarcinoma.

 

Economic Data Docket: U.S. consumer confidence rose in October, reversing a three-month downward trend, according to the Conference Board. Its consumer confidence index climbed to a reading of 113.8, topping a Dow Jones expectation of 108 and up from 109.8 in September.

 

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

  • Tuesday opened negative at 9/23, 2 flats and 1 acquired, strayed negative at the mid-day at 10/23, 1 flat and 1 acquired, ending with a negative close of 9/24, 1 flat and 1 acquired;
  • Monday opened negative at 9/24, 1 flat and 1 acquired, strayed NEUTRAL at the mid-day at 16/16, 2 flats and 1 acquired, ending with a negative close of 15/17, 2 flats and 1 acquired;

 

RegMed Investors’ (RMi) pre-open: “which way is up – a circuitous route. Increased volume, patience with LPS (loss-per-share) earnings without electronic sell trading algorithms.” … https://www.regmedinvestors.com/articles/12154

 

Pre-open indication results: 8 Hit: < SELL: Biostage (BSTG -$0.05 with 1,216 shares traded); SELL into Strength: BioLife Solutions (BLFS +$1.99), bluebird bio (BLUE -$0.28), Editas Medicine (EDIT -$0.31), Intellia Therapeutics (NTLA -$1.55), Sage Therapeutics (SAGE -$0.08), Ultragenyx Pharmaceuticals (RARE +$0.81), uniQure NV (QURE -$0.98)> and 0 MISS>

 

Key Metric - volume:

Sector volume was INCREASED with 4 of the 9-upside having higher than the 3-month average volume with INCREASING volume of 5 of 24-downside having higher than the 3-month average volume;

Downside volume that stands-out:

  • Athersys (ATHX -$0.05 with 2.898 M shares traded)

Upside volume that stands out:

  • Fate Therapeutics (FATE +$1.15 with 2.381 M shares traded)

 

There are clear winners and losers

Jumping with share pricing momentum (9 of 9):

  • ReNeuron (RENE.L +$4.00 after Monday’s +$1.50)
  • BioLife Solutions (BLFS +$1.99 after Monday’s +$2.28),
  • Fate Therapeutics (FATE +$1.15 after Monday’s -$0.84),
  • Ultragenyx (RARE +$0.81 after Monday’s +$1.47),
  • AxoGen (AXGN +$0.31 after Monday’s -$0.20),
  • Applied Genetic Technologies (AGTC +$0.12),
  • Chinook Therapeutics (KDNY +$0.03 after Monday’s -$0.21),
  • Verastem (VSTM +$0.02),
  • Precigen (PGEN +$0.01),

Hammered in today’s market (10 of 24):

  • Alnylam Pharmaceuticals (ALNY -$1.96 after Monday’s +$1.06),
  • CRISPR Therapeutics (CRSP -$1.64 after Monday’s +$1.14),
  • Intellia Therapeutics (NTLA -$1.55 after Monday’s +$1.97),
  • uniQure NV (QURE -$0.98 after Monday’s +$0.90),
  • Global Blood Therapeutics (GBT -$0.86 after Monday’s -$0.71),
  • Regenxbio (RGNX -$0.57 after Monday’s +$0.41),
  • MiMedx (MDXG -$0.40),
  • Editas Medicine (EDIT -$0.31 after Monday’s +$0.39),
  • bluebird bio (BLUE -$0.28 after Monday’s +$0.43),
  • Ionis Pharmaceuticals (IONS -$0.26 after Monday’s -$0.34),

Closing Flat:

  • 1 – Caladrius Biosciences (CLBS) and 1 - Stemline Therapeutics (STML) – acquired

 

Stats:

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

  • Tuesday, the IBB closed down -0.12% and XBI closed down -0.23%
  • Monday, the IBB closed up +1.14% and XBI closed up +0.17%

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Tuesday was up +0.74 points or +4.86% at 15.98
  • Monday was down -0.19 points or -1.23% at 15.24

 

October, the first month of Q3/21:

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

Monday (10/25) closed negative with 15 advancers, 17 decliners, 2 flat and 1 acquired

 

The BOTTOM LINE: What I wrote yesterday, still is relevant … “Don't let earnings week take advantage of you. Be ready to act on up-coming earnings news, good or bad, but don't be too hasty.”

I say take ANY profit if one can … to have “powder” after the “drops” …

We'll be seeing the results these couples of weeks as Alnylam Pharmaceuticals (ALNY) on 10/28 followed by Sage Therapeutics (SAGE) and Ultragenyx Pharmaceuticals (RARE) on 11/2, Fate therapeutics (FATE) on 11/4, Vericel (VCEL on 11/9 and Athersys (ATHX) on 11/15 – so far.

Reiterating, “the stem, cell and gene therapy sector is still seen as vulnerable to extreme low volume moves in either direction, as share pricing risk stimulates their susceptibility!”

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!”

WHY do I keep analyzing Biostage (BSTG): When one sees an inextricable wrong and morally repulsive scenario; it takes courage, resolve and patience to stay the course of asking the questions without response!

Who is defining the metrics for investors and keeping you notified of the sector and market fluctuations?  What I provide is a trusted source of share pricing intelligence – it’s more than opinion, I deal in the facts and numbers that back them up.

 

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.