March 31, 2022 4:54pm

Depressed momentum is linked inextricably to volatility, headline risks and an option expiration Thursday

Pre-open indications: 4 Hits and 8 MISS <I’m still eyeing sector lows>

What I provide is an intelligence daily. RMi outlines a daily bell weather of “indications” about what you need to know; it’s what could happen or materialize after the opening and what might happen during the session.

Who else is tracking a broad grouping of cell and gene therapy equities – can you afford to not read facts supported by real numbers?

The metrics say it all … just the facts


If I have learned one thing as a former research analyst, venture and public fund investor now a journalist; it is that your life and your bank account are largely tied to your knowledge of price movements and questioning pricing targets.

 

The Dow closed DOWN -550.82 points (-1.56%); the S&P closed DOWN -71.95 points (-1.56%) while the Nasdaq closed DOWN -271.76 points (-1.54%)

 

Henry’omics:

Indexes were lower for the 2nd straight session on Thursday as traders wrap up a share pricing disturbing Q1/22.

In Q1/22, the Dow and S&P 500 are both down about 3%, and the Nasdaq is off more than 7%.

For all three (3) averages, this will be the first negative quarter since the Q1/20, which marked the start of the Covid pandemic in the U.S.

Volume was mixed, rising on the NYSE but falling on the Nasdaq while the cell and gene therapy’s volume was low.

Today marks the quarter- and month-end rebalancing by pension funds.

Also, the yield on the benchmark 10-year Treasury note fell about three basis points to 2.33%.

Economic Date Docket: Initial unemployment claims rose modestly after reaching a 50-year low as employers continue to show reluctance in reducing their workforces in the current competitive labor market. The Labor Department released its latest weekly jobless claims report Thursday at 8:30 a.m. ET. Here were the main metrics from the print, compared to consensus estimates compiled by Bloomberg:

  • Initial jobless claims, week ended March 26: 202,000 vs. 196,000 expected and a revised 188,000 during prior week
  • Continuing claims, week ended March 19: 1.307 million vs. 1.340 million expected and a revised 1.342 million during prior week
  • Weekly unemployment claims edged higher for the first time in three weeks but rose only marginally from multi-decade lows set just last week.

 

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

  • Thursday opened positive at 23 up/10 downs, 2 flats, flipped negative at the mid-day at 13/31 and 1 flat, ending with a negative close of 9/24 and 2 flats;

 

All-time low:

  • Applied Genetic Technologies (AGTC) $1.07

 

Pre-open Indications: 4 Hits < Biostage (BSTG -$0.10 with 124 shares traded after Wednesday’s +$0.50 with 3,926 shares traded after Tuesday’s -$0.50 with 3,300 shares traded), Ionis Pharmaceuticals (IONS +$1.35), Fate Therapeutics (FATE -$1.09), Vericel (VCEL -$1.00)> 8 Miss < Agenus (AGEN -$0.16), Applied Genetic Technologies (AGTC -$0.04), Caribou Biosciences (CRBU -$0.07), Beam Therapeutics (BEAM -$2.15), CRISPR Therapeutics (CRSP -$1.31), Editas Medicine (EDIT -$0.50),  AxoGen (AXGN -$0.15),  Global Blood Therapeutics (GBT -$0.31)>    

 

RegMed/Cell and Gene Therapy Earnings Scorecard Q4/21 and FY21 Results … https://www.regmedinvestors.com/articles/11628  … (VSTM, BCLI & ADVM) added with 34 to date

 

Key Metrics:

  • Thursday - Sector volume was LOW with 3 of the 9-upside having higher than the 3-month average volume with LOW volume of 3 of 24-downside having higher than the 3-month average volume;

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

  • Thursday, the IBB was down -0.51% and the XBI was down -0.88%

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Thursday was up +1.23 points or +6.36% at 20.56

 

Jumping with share pricing momentum (9 of 9):

  • Ionis Therapeutics (IONS +$1.35 after Wednesday’s -$0.79),
  • Ultragenyx (RARE +$1.26 after Wednesday’s +$0.25, Tuesday’s -$0.90 and Monday’s -$0.97),
  • Intellia Therapeutics (NTLA +$0.49 after Wednesday’s -$4.05, Tuesday’s +$3.15 and Monday’s +$2.43),
  • Bellicum Pharmaceuticals (BLCM +$0.23),
  • uniQure NV (QURE +$0.19),
  • Regenxbio (RGNX +$0.14),
  • Cellectis SA (CLLS +$0.04),
  • Solid Biosciences (SLDB +$0.02),
  • Homology Medicine (FIXX +$0.02),

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

  • Beam Therapeutics (BEAM -$2.15 after Wednesday’s -$2.58, Tuesday’s +$2.97 and Monday’s +$1.03),
  • Alnylam Pharmaceuticals (ALNY -$1.95 after Wednesday’s -$1.50, Tuesday’s +$5.09 and Monday’s -$2,16),
  • CRISPR Therapeutics (CRSP -$1.31 after Wednesday’s -$1.87, Tuesday’s +$3.12 and Monday’s +$0.69),
  • Sage Therapeutics (SAGE -$1.18 after Wednesday’s -$1.02, Tuesday’s +$1.59 and Monday’s +$1.29),
  • Fate Therapeutics (FATE -$1.09 after Wednesday’s -$2.08 and Tuesday’s +$3.94),
  • Vericel (VCEL -$1.00 after Wednesday’s -$0.36, Tuesday’s +$2.28 after Monday’s +$1.52),
  • Editas Medicine (EDIT -$0.50 after Wednesday’s -$0.92 and Tuesday’s +$1.68),
  • Global Blood Therapeutics (GBT -$0.31),
  • Voyager Therapeutics (VYGER -$0.20),
  • BioLife Solutions (BLFS -$0.17),

 

March, Q1/2022:

Thursday closed negative with 9 incliners, 24 decliners and 2 flats

Wednesday closed negative with 7 incliners and 28 decliners

Tuesday closed positive with 32 incliners and 3 decliners

Monday closed negative with 13 incliners, 20 decliners and 2 flats

Friday closed negative with 7 incliners and 28 decliners

Thursday closed positive with 28 incliners, 6 decliners and 1 flat

Wednesday closed negative with 6 incliners, 28 decliners and 1 flat

Tuesday closed positive with 31 incliners and 4 decliners

Monday closed negative with 2 incliners, 31 decliners and 2 flats

Friday closed positive with 28 incliners and 5 decliners and 2 flats

Thursday closed positive with 32 incliners and 3 decliners

Wednesday closed positive with 34 incliners, 3 decliners

Tuesday closed positive with 28 incliners, 6 decliners and 1 flat

Monday closed negative with 5 incliners, 30 decliners and 1 flat

Friday closed negative with 6 incliners and 31 decliners and 1 flat

Thursday closed negative with 12 incliners and 36 decliners

Wednesday closed positive with 35 incliners, 3 decliners

Tuesday closed positive with 24 incliners, 12 decliners and 2 flats

Monday closed negative with 11 incliners, 26 decliners and 1 flat (PGEN)

Friday closed negative with 2 incliners and 34 decliners

Thursday closed negative with 5 incliners, 30 decliners and 1 flat

Wednesday closed positive with 20 incliners, 13 decliners, 1 flat and 1 acquired

Tuesday closed negative with 15 incliners, 18 decliners, 1 flat and 1 acquired

 

The BOTTOM LINE: I’m STILL interested in BUYING the newest lows …

Follow the bouncing cell and gene therapy sector closes: check above ...     

Can’t blame this on investors … my dog named “algorithm” chewed portfolio and it didn’t take much volume!

As I stated this a.m., “It wouldn't be surprising to see this market rally thaw and cell and gene therapy sector slip.”

I stick to my view of anticipating the risks – as my careers focus has been “warning analysis”; risk to growth now takes center stage for how long separation of sentiment lasts and how deep the oversold dive.

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.