April 21, 2022 4:47pm
The cell and gene therapy sector behavior exhibits more than just lethargy as gene editing equites slide into the newest lows
Pre-open indications: 1 HIT, 5 MISS and 1 Pimp/Pump/Promote
I am never totally wrong and more than frequently right yet, today was another crippling call with the IBB down -2.36% and the XBI down -4.28%
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 -368.03 points (-1.05%); the S&P closed DOWN -65.79 points (-1.48%) while the Nasdaq closed DOWN -278.41 points (-2.07%)
Indexes are coming off a mixed session Wednesday and falling Thursday in a sharp reversal, as a jump in Treasury yields offset the optimism coming from new earnings’ reporting.
Treasury yields were up sharply on the day, with the benchmark 10-year rate trading more than 7 basis points higher at 2.915% — near its highest level since late 2018. The 10-year started the year near 1.5% and has shot up as the Federal Reserve tightens monetary policy to get a hold of soaring prices in the U.S. <CNBC>
Fed Chair Powell signaled that bigger rate hikes may be coming next month.
- AVROBIO (AVRO) at $1.04
- Homology Medicine (FIXX) at $1.89,
- Precigen (PGEN) at $1.56,
- Sangamo Therapeutics (SGMO) at $4.92,
- Intellia Therapeutics (NTLA) at $54.11,
- Beam Therapeutics (BEAM) at $42.11
Unusual volume spike:
- Voyager Therapeutics (VYGR -$2.84 with 6.144 M shares traded)
RegMed Investors’ (RMi) pre-open: “drifting towards a set-up for the cell and gene therapy sector” … https://www.regmedinvestors.com/articles/12398
RegMed/Stem/Cell and Gene Therapy’s 35 covered equities’ Advance/Decline (A/D) lines: what happened …
- Thursday opened positive at 17 up/16 downs and 2 flats, flipped negative at the mid-day at 5/30, ending with a negative close of 6/29 and 1 flat,
Pre-open Indications: 5 HITs: <Beam Therapeutics (BEAM -$1.67), Caribou Biosciences (CRBU -$0.22), CRISPR Therapeutics (CRSP -$2.05), Editas Medicine (EDIT -$1.00), Alnylam Pharmaceuticals (ALNY +$0.80)> 1 MISS < Global Blood Therapeutics (GBT -$1.05)> 1 Pimp/Pump/Promote < Biostage (BSTG +$0.90 with 771 shares traded>
- Thursday - Sector volume was LOW with 1 of the 6-upside having higher than the 3-month average volume with LOW volume of 8 of 29-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 -2.36% and the XBI was down -4.28%
The CBOE Volatility Index (VVIX: INDEX) tracked:
- Thursday was up +2.36 points or +11.61% at 22.68
Jumping with share pricing momentum (5 of 5):
- Biostage (BSTG +$0.90 after Wednesday’s -$0.48 after Tuesday’s +$0.48 - promoted),
- Alnylam Pharmaceuticals (ALNY +$0.80 after Wednesday’s +$6.75, Tuesday’s +$4.52 and Monday’s -$10.66),
- Brainstorm Cell Therapeutics (BCLI +$0.03 after Wednesday’s -$0.12),
- Pluristem (PSTI +$0.02),
- Cellectis SA (CLLS +$0.005),
Hammered in today’s market (10 of 29):
- Intellia Therapeutics (NTLA -$4.33 after Wednesday’s -$2.20),
- Ultragenyx (RARE -$3.50 after Wednesday’s +$0.62 after Tuesday’s -$0.34 and Monday’s -$9.96),
- Voyager Therapeutics (VYGR -$2.84 after Wednesday’s +$0.55, Tuesday’s +$0.53 and Monday’s +$0.09),
- Fate Therapeutics (FATE -$2.08 after Wednesday’s -$0.17, Tuesday’s +$1.29 and Monday’s -$2.29),
- CRISPR Therapeutics (CRSP -$2.05 after Wednesday’s -$2.38),
- BioLife Solutions (BLFS -$1.93 after Wednesday’s -$1.42),
- Vericel (VCEL -$1.92 after Wednesday’s +$1.61 and Tuesday’s +$2.19),
- Beam Therapeutics (BEAM -$1.67 after Wednesday’s -$0.93, Tuesday’s +$0.72 and Monday’s -$2.42),
- Regenxbio (RGNX -$1.18 after Wednesday’s +$0.72 and Tuesday’s +$0.78),
- Global Blood Therapeutics (GBT -$1.05 after Wednesday’s +$0.97, Tuesday’s +$0.67 and Monday’s -$1.42),
- Thursday closed negative with 6 incliners, 29 decliners and 1 flat
The BOTTOM LINE: I always expect the … expected as I have written, “I am still a believer in the Icarus myth and the danger of dramatic upside flight on low volume wings” and I missed today!
Also reiterating, “Investors are losing confidence and it shows up in the ever rotating roller-coaster of share pricing.”
There are clear winners and losers: gene editing equities are having a rough time since the Broad Institute patent award as the “other” companies face negotiating licenses.
State the obvious, investors are NOT in control of daily market driven sector appreciation or downward dives.
I try to keep it simple …
We are getting close to Q2 reporting season … yet, I can’t write away my misgivings about the daily sessions.
Earnings’ season is upon us as Alnylam Pharmaceuticals (ALNY) reports Thursday,4/28 followed by Sage Therapeutics (SAGE) on 5/3 and AxoGen (AXGN), Ionis Pharmaceuticals (IONS), MiMedx (MDXG) and Vericel (VCEL) on 5/4 so far.
Volume again was also barely there … as earnings might get even more ugly.
I stick to my view of anticipating the risks – as my careers focus has been “warning analysis”.
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.