April 5, 2022 5:06pm
Pre-open indications: 4 Hits, 3 MISS and 1 Pimp/Pump and Promote
News: bluebird bio (BLUE -$0.20 or -3.382%) fell after a restructuring cost 30% of its employees their jobs, with 518 full-time employees as of Jan. 31, that could mean about 155 employees will be laid off. There is "substantial doubt" about its ability to continue as a going concern, said the restructuring is expected to cut its 2022 cash burn to less than $340 M, and to extend its cash runway into the 1H/23. The restructuring comes after the U.S. FDA extended its review of two of BLUE's drug candidates by three months, including its sickle cell disease treatment, which the FDA placed a partial clinical hold on in December. The stock, has plunged 47.7% year to date through Monday.
Agenus (AGEN -$0.07) received a $5M clinical milestone payment for AGEN2373 (conditionally active CD137 agonist). AGEN2373 is being evaluated in a P1b combination study with botensilimab (Fc-enhanced anti-CTLA-4), in melanoma patients who had relapsed on, or were refractory to, prior anti-PD-1 therapy.
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?
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 -280.70 points (-0.80 %); the S&P closed DOWN -57.52 points (-1.26%) while the Nasdaq closed DOWN -328.39 points (-2.26%)
Henry’omics:
Indexes fell on Tuesday after Fed’ Governor Lael Brainard signaled the central bank may take a more aggressive approach to tighten policy to fight inflation.
- The 10-year Treasury yield jumped to 2.56% following her comments, its highest level since May 2019.
The Institute for Supply Management's services index for March came in at 58.3, in line with forecasts. It's an improvement from 56.5 the previous month in the index, which surveys more than 375 service-providing firms in 16 industries.
The Nasdaq remains below resistance at its 200-day line, while both the Dow Jones and S&P 500 remain above this level. <IBD>
RegMed/Stem/Cell and Gene Therapy’s 35 covered equities’ Advance/Decline (A/D) lines: what happened …
- Tuesday opened negative at 7 up/28 downs, 2 flats, stayed negative at the mid-day at 8/26 and 1 flat, ending with a negative close of 8/26 and 1 flat;
Pre-open Indications: 4 Hits <Sell into Strength: CRISPR Therapeutics (CRSP -$2.03), Beam Therapeutics (BEAM -$5.91), Fate Therapeutics (FATE -$2.31), Sage Therapeutics (SAGE -$0.33)> 3 Miss < Ultragenyx (RARE +$2.55), Global Blood Therapeutics (GBT +$0.09), Alnylam Pharmaceuticals (ALNY -$1.86)>
· 1 Pimp/Pump/Promote: <Biostage (BSTG) closed up +$0.59 with 8,743 shares traded after Monday’s +$0.49 with 8,809 shares traded after Friday’s $0.00 with 10 shares traded, Thursday’s -$0.10 with 124 shares traded, Wednesday’s +$0.50 with 3,926 shares traded and last Tuesday’s -$0.50 with 3,300 shares traded)>
RegMed/Cell and Gene Therapy Earnings Scorecard Q4/21 and FY21 Results … https://www.regmedinvestors.com/articles/11628 … added with 35 to date <some dropped and others added>
Key Metrics:
- Tuesday - Sector volume was LOW with 4 of the 8-upside having higher than the 3-month average volume with LOW volume of 6 of 26-downside having higher than the 3-month average volume;
The iShares NASDAQ Biotechnology (IBB) and the SPDR S&P ETF (XBI) indicators:
- Tuesday, the IBB was down -1.52% and the XBI was down -3.52%
The CBOE Volatility Index (VVIX: INDEX) tracked:
- Tuesday was up +2.46 points or +13.25% at 21.03
Jumping with share pricing momentum (9 of 9):
- Ultragenyx (RARE +$2.55 after Monday’s +$0.78),
- Biostage (BSTG +$0.59 after Monday’s +$0.49),
- Voyager Therapeutics (VYGR +$0.33),
- Mesoblast (MESO +$0.11),
- Global Blood Therapeutics (GBT +$0.09 after Monday’s +$1.39),
- Brainstorm Cell Therapeutics (BCLI +$0.08),
- Pluristem (PSTI +$0.05),
- Bellicum Pharmaceuticals (BLCM +$0.02 after Monday’s -$0.10),
Hammered in today’s market (10 of 26):
- Intellia Therapeutics (NTLA -$6.05),
- Beam Therapeutics (BEAM -$5.91 after Monday’s +$2.41),
- Fate Therapeutics (FATE -$2.31 after Monday’s +$1.07),
- CRISPR Therapeutics (CRSP -$2.03 after Monday’s +$3.36),
- Chinook Therapeutics (KDNY -$1.90 after Monday’s +$0.57),
- Alnylam Pharmaceuticals (ALNY -$1.86 after Monday’s -$7.52),
- BioLife Solutions (BLFS -$1.40 after Monday’s +$0.58),
- Editas Medicine (EDIT -$1.02 after Monday’s +$1.13),
- uniQure NV (QURE -$0.84 after Monday’s +$1.00),
- Regenxbio (RGNX -$0.67),
Flat:
- Applied Genetic Technologies (AGTC)
April, Q2/2022:
- Tuesday closed negative with 8 incliners, 26 decliners and 1 flat
- Monday closed positive with 31 incliners and 4 decliners
The BOTTOM LINE: As I stated on Monday, “On what (?) does this sector stay up as it can be a fickle place, as we’ve seen this year. Oversold/ Overbought – they bunch and then alternate … Are we entering a set-up for a selling opportunity?
And we were … as the riskiest assts get hammered as indexes get whacked.
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.
