April 27, 2022 5:12pm
The wall of worry hasn’t been totally demolished
Pre-open indications: 4 HITs and 4 MISS
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 UP +61.75 points (+0.19%); the S&P closed UP +8.76 points (+0.21%) while the Nasdaq closed DOWN -1.81 points (-0.01 %)
U.S. stocks struggled in volatile trading Wednesday however, the Nasdaq closed at its low of 2022, a day after its worst daily loss since 2020,
The Nasdaq also is in bear market territory, roughly 23% below its high.
- XBI at $75.80
- Beam Therapeutics (BEAM) at $39.58,
- Caribou Biosciences (CRBU) at $7.50
- Sangamo Therapeutics (SGMO) at $4.45,
- Applied Genetic Technologies (AGTC) at $0.90,
- bluebird bio (BLUE) at $3.72,
- AVROBIO (AVRO) at $0.97
- Homology Medicine (FIXX) at $1.62,
- Solid Biosciences (SLDB) at $0.66
- Intellia therapeutics (NTLA) at $49.25
- Precigen (PGEN) at $1.42
RegMed Investors’ (RMi) pre-open: “time to BUY “some” oversold before or with an algorithmic bought rebound. After a high volatility and in a low volume sector = a coming behavioral response although caution” … https://www.regmedinvestors.com/articles/12407
RegMed/Stem/Cell and Gene Therapy’s 35 covered equities’ Advance/Decline (A/D) lines: what happened …
- Wednesday opened positive at 26 up/5 downs and 4 flats, flopped negative at the mid-day at 14/20 and 1 flat, ending with a negative close of 7/28,
Pre-open Indications: 4 HITs <Biostage (BSTG -$0.30 with 1,150 shares traded, Global Blood Therapeutics (GBT +$0.41), Ultragenyx (RARE +$0.24), Ionis Pharmaceuticals (IONS -$0.26)> 4 MISS < Alnylam Pharmaceuticals (ALNY -$0.08), Caribou Biosciences (CRBU -$0.22), Editas Medicine (EDIT -$0.40), Fate Therapeutics (FATE -$0.57)>
- Wednesday - Sector volume was LOW with 3 of the 7-upside having higher than the 3-month average volume with LOW volume of 7 of 28-downside having higher than the 3-month average volume;
The iShares NASDAQ Biotechnology (IBB) and the SPDR S&P ETF (XBI) indicators:
- Wednesday, the IBB was down -0.28% and the XBI was down -1%
The CBOE Volatility Index (VVIX: INDEX) tracked:
- Wednesday was down -1.92 points or -5.73 % at 31.60
Jumping with share pricing momentum (7 of 7):
- Ultragenyx (RARE +$0.24 after Tuesday’s -$4.92 and Monday’s +$0.60),
- Sage Therapeutics (SAGE +$0.24 after Tuesday’s -$1.77),
- Cellectis SA (CLLS +$0.13),
- AxoGen (AXGN +$0.08),
- Brainstorm cell Therapeutics (BCLI +$0.06),
- Verastem (VSTM +$0.01),
- Applied Genetic Technologies (AGTC +$0.0016),
Hammered in today’s market (10 of 28):
- CRISPR Therapeutics (CRSP -$0.84 after Tuesday’s -$4.47 and Monday’s +$1.59),
- Vericel VCEL -$0.63 after Tuesday’s -$1.73),
- Fate Therapeutics (FATE -$0.57 after Tuesday’s -$3.01 and Monday’s +$0.82),
- Intellia Therapeutics (NTLA -$0.51 after Tuesday’s -$3.74 and Monday’s +$2.93),
- BioLife Solutions (BLFS -$0.46 after Tuesday’s -$0.60 and Monday’s +$1.20),
- Global Blood Therapeutics (GBT -$0.41 after Tuesday’s -$2.09 and Monday’s +$1.50),
- Editas Medicine (EDIT -$0.40 after Tuesday’s -$1.03 and Monday’s +$0.40),
- Beam Therapeutics (BEAM -$0.34 after Tuesday’s -$4.06 and Monday’s +$2.09),
- Biostage (BSTG -$0.30),
- uniQure NV (QURE -$0.26 after Tuesday’s -$0.92),
- Wednesday closed negative with 7 incliners and 28 decliners
- Tuesday closed negative with 0 incliners, 35 decliners
- Monday closed positive with 27 incliners, 7 decliners and 1 flat
The BOTTOM LINE: Markets rip and the sector zip-a-dee- doo-dah’ed as rain snapped the sunshine from our cell and gene therapy universe.
From yesterday relevance is STILL defined, “This week may easily be a fork in the road of equities. ... Bottom-up drivers will either confirm or reject what the challenging macro backdrop has given us over the last three weeks,” MKM’s JC O’Hara said in a note. <CNBC>
“Wednesday's gains in the major stock indexes were good to see after another ugly down session Tuesday. But it takes a lot more than one day of strength for a bottom to be put in. Be on the lookout for a follow-through day, which has been seen at every single market bottom in the past. But if a follow-through day comes soon, make sure there are setups to buy. If they're few and far between, listen to the market's message and keep your power generally dry.” <IND>
The Nasdaq 100 held up well, up 0.4%, to recover some losses after the major equity indexes slid a day earlier, as concerns over inflation and global economic growth stirred up further volatility across risk assets.
State the obvious, investors are NOT in control of daily market driven sector appreciation or downward dives.
I try to keep it simple … I don't think we've seen the bottom yet. We haven't had that big sell off yet where we have huge volumes.
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 Solid Biosciences (SLDB) reports 4/27 followed by 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), and Fate Therapeutics (FATE), Regenxbio (RGNX), Editas Medicine (EDIT), Global Blood Therapeutics (GBT) on 5/4 and Ultragenyx Pharmaceuticals (RARE) on 4/5.
Volume again was also barely there … as earnings might get even more ugly.
Don’t hold your breath after a few up sessions, algorithms are lurking under the surface of minimal sentiment
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.