December 14, 2021 7:48am
The sector was selling-off as the session progressed, although the close was a positive
Pre-open indications: 3 BUYs and 6 SELLs
News: Mesoblast (MESO -$0.86 pre-open having closed -$0.40) was notified by Novartis (NVS) that it has chosen to terminate the agreement with MESO prior to its closing. Precigen (PGEN +$0.05) presented positive interim data at the 63rd ASH Annual Meeting and Exposition (Abstract# 825) from the ongoing P1/1b clinical study of PRGN-3006 UltraCAR-T® in patients with relapsed or refractory (r/r) acute myeloid leukemia (AML) and higher risk myelodysplastic syndromes (MDS)
If you’re looking for sector intel, ideas and facts or Insight in a volatile climate, RMi defines the extenuating factors of share pricing! I follow the dictum, quoting Churchill that “short words are best, and the old words when short are best of all.”
Remember that overnight and pre-open actions in futures don't necessarily translate into actual trading in the coming day’s session.
Dow futures are UP +0.06% (+23 points), S&P futures are DOWN -0.11% (-5 points) and NASDAQ futures are DOWN -0.41% (-66 points)
U.S. stock index futures were fluctuating and mixed pre-open on Tuesday,
European markets were mixed,
Asia-Pacific markets fell trailing other losses in the region, as the omicron variant returned to focus.
Economic Data docket: inflation data when November’s producer price index number to be reported. Economists are expecting it to show that prices rose 0.5% for the month as compared to a slight slowdown from October’s 0.6% increase.
- Members of the Federal Open Market Committee are set to hold their two-day policy-setting meeting on Tuesday and Wednesday, after which they will release their monetary policy statement and hold a press conference with Fed Chair Powell.
- The December statement will also be accompanied by an updated Summary of Economic Projections — the first since September — outlining members' expectations for economic conditions and interest rates. <Yahoo Finance>
- Many economists now expect that this month's meeting will serve as the platform for Fed officials to increase the rate of tapering of their asset-purchase program.
Henry’omics:
Indexes posted weak performances Monday …
- The Dow slid 0.89%, or 320 points, while the S&P 500 dipped 0.9% or 43 points while the Nasdaq fell 1.39% or 217.32 points.
- Despite Monday’s decline for equities, the S&P 500 is roughly 1.6% below its Nov. 22 all-time intraday high. The Dow is 2.5% below its record, while the Nasdaq is about 5% under its high-water mark. The Russell 2000 index is down a sharper 11.3% since its Nov. 8 high. <CNBC>
Note: Pfizer (PFE) shares rose nearly 1% after final results of tests on its Covid drug showed it reduced hospitalizations and deaths by 89% in high-risk patients.
If you didn’t remember what happen at Monday night’s close, you won’t be prepared for today’s session:
Monday’s evening’s recap: “sector concerns as share pricing tanks, then reshuffles to the upside. The start of a new week, a new game of pick-up-sticks after emptying the can.” … https://www.regmedinvestors.com/articles/12223
Q4: December, 4 negative and 5 positive closes
- November, 1 holiday 5 positive and 16 negative close to date
- October, 8 positive and 13 negative closes
Companies in my headlights – It’s your decision; I provide an idea and context:
Probabilities versus aftermarket/pre-open share pricing indication moves:
SELL:
Brainstorm Cell Therapeutics (BCLI) closed up +$0.38 to $3.80 and has a negative -$0.22 or -5.79% pre-open indication.
Mesoblast (MESO) closed down -$0.40 to $5.76 and has a negative -$0.86 or -144.93% on news of NVS terminating their collaboration early.
Intellia Therapeutics (NTLA) closed up +$0.24 to $114.25 after Friday’s +$1.96 to $114.01 with a negative -$0.25 or -0.22% pre-open indication
Maintaining SELL:
Alnylam Pharmaceuticals (ALNY) closed up +$12.77 to $186.42 after Friday’s +$1.18 to $173.65, Thursday’s $172.47, Wednesday’s $176.92 and last Tuesday’s $180.28 with NO aftermarket indication.
Biostage (OTCQB: BSTG) Monday closed flat with 1 share traded after Friday closed up +$0.20 with 9,669 shares traded, Thursday closed $0.00 with 26 shares traded following Wednesday closed flat with 520 shares traded after last Tuesday dropped -$0.20 with 2,980 shares traded.
BUY:
Ionis Pharmaceuticals (IONS) closed up +$0.70 to $30.17 with a positive +$0.56 or +1.86% pre-open indication.
Editas Medicine (EDIT) closed up +0.25 to $29.26 after Friday’s -$1.52 to $29.01 with a positive +$0.12 or +0.41% pre-market indication.
Precigen (PGEN) closed down -$0.15 to $3.70 with a positive +$0.05 or +1.35% pre-open indication with news (above) of positive interim data at the 63rd ASH Annual Meeting and Exposition
SELL from BUY:
Global Blood Therapeutics (GBT) closed up +$1.47 to $29.06 after Friday’s -$1.36 to $27.59 with a negative -$1.06 or -3.65% pre-open indication.
The BOTTOM LINE: The week started with a sector pop, a slip and a positive close.
However, I do NOT hold
From my “early” days, I “was learned” to “watch my corners” – one never knew what could be coming at you!
Let’s NOT forget that the stem, cell and gene therapy sector has been showing more than some strain for many weeks.
I don’t believe the market and sector conditions are favorable in the very short-term. The risk of market-shaking headlines is very high, at least until there's greater understanding of the omicron variant, and what that might mean for the economy.
Investors should consider taking further profits in winners, slashing strength gains, don’t sell into losses, they seem to bounce after depression.
The year is ending, take a more-defensive approach, cutting back exposure.
I’m STILL a “beware or the cautious man” whose focus has always been “warning analysis”.
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.
WHY do I keep reporting on 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!
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.
