April 28, 2022 7:40am
GDP release – today and Personal Income and Outlays on Friday
Earnings: Alnylam Pharmaceuticals (ALNY)
Pre-open indications: 7 Upside indications and 1 Pimp/Pump/Promote
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.
Just the facts … I ask questions and note the indications of what could happen …
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 +0.87% (+288 points), S&P futures are UP +1.59% (+66 points) and NASDAQ futures are UP +2.24% (+291 points) early in the pre-open
Stock futures jumped in pre-open trading as the market shook off the April sell-off on Thursday,
European stocks were up as investors reacted to another busy session of earnings,
Asia-Pacific stocks were higher as investors reacted to the Bank of Japan’s latest monetary policy decision.
From last night’s post, “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.
RegMed Investors’ (RMi) closing bell: “wherefore art thou sentiment. The wall of worry hasn’t been totally demolished” … https://www.regmedinvestors.com/articles/12409
Ebb and flow –
Q2/22 - 1 holiday, 5 positive and 13 negative closes
· March – 13 negative and 10 positive closes
· February stats: 11 negative, 8 positive closes and 1 holiday
· January stats: 2 holidays, 1 neutral, 13 negative and 6 positive closes
Companies in my headlights – It’s your decision; I provide ideas and context: INDICATIONS
Reversing the curse of downtrodden markets, some companies deserve a lift … Upside indications:
Agenus (AGEN) after closing -$0.03 to $1.95, <52-week low of $1.95 and a high of $6.79> a pre-open indication of +$0.03 or +1.54%,
AVROBIO (AVRO) after closing -$0.018 to $0.9629, <52-week low of $0.95 and a high of $11.80> a pre-open indication of +$0.04 or +3.84%,
Beam Therapeutics (BEAM) after closing down -$0.34 to $39.83, <52-week low of $39.26 and a high of $138.52> a pre-open indication of +$0.18 or +0.45%,
Editas Medicine (EDIT) closed down -$0.40 to $13.56 after Tuesday’s -$1.03 and Monday’s +$0.40 <52-week low of $13.25 to a high of $73.03> with a positive +$0.50 or +3.69% pre-open indication.
Fate Therapeutics (FATE) closed down -$0.57 to $31.87 after Tuesday’s -$3.01 <52-week low of $29.40 to a high of $97.43> with a positive +$1.59 or +4.99% pre-open indication
Intellia Therapeutics (NTLA) closed down -$0.51 to $49.34 <52-week low of $48.07 to a high of $202.73> with a positive +$0.51 or +1.03% pre-open indication
Flipping to the downside:
Alnylam Pharmaceuticals (ALNY) closed down -$0.08 to $154.92 after Tuesday’s -$7.07 <52-week low of $125.00 to a high of $212.00> with a negative -$0.92 or -0.59% pre-open. Earnings release today.
Pimp/Pump and Promote:
Biostage (BSTG) closed down -$0.30 with 1,150 shares traded after Tuesday’s -$0.30 with 25,325 shares traded, Monday’s +$0.05 with 1,227 shares trading, Friday’s +$0.05 with 3,233 shares traded and last Thursday’s +$0,90 with 771 shares traded.
- WARNING: A “ZOMBIE” company, WHY BUY this equity with a 3-year-old IND, NO clinical trial initiation, a terminal death lawsuit overhang and a precarious financial position dependent on a possible cash infusion?
- Also, WHY the pump of the volume to gain share appreciation – they have to reverse the multiple private placements (the priciest was $4.71) for a potential/proposed stock offering.
- Last question: Has BSTG filed their FDA annual report on their IND – it needs to explain why it has not gone forward to date and their plan to go forward?
The BOTTOM LINE: The wall of worry continues in tact after Wednesday’s dismal close.
In this environment, it's impossible to call the bottom …
So, brace for more choppiness in the near-term as we enter… the earnings “black hole beginning this week
Reiterating, “I am NOT a sector optimist in light of current macro earnings and the coming “swarm” of cell and gene therapy sector in our very own “loss-per-share” companies reporting season.” The earnings are coming, the earnings are coming; flash the signal light of loss per share - I maintain a warning to investors to reduce exposure.
I try to keep it simple … and short!
Investors should consider taking at least partial profits quickly on winners to avoid round-tripping moves.
I am still, in the here and now, the cell and gene therapy sector will continue to “flutter”; as we are about to enter the earnings’ zone!
Earnings’ season is upon us as Alnylam Pharmaceuticals (ALNY) reports Thursday, 4/28 followed so far by Sage Therapeutics (SAGE) on 5/3 and AxoGen (AXGN), Fate Therapeutics (FATE), Global Blood Therapeutics (GBT), Ionis Pharmaceuticals (IONS), MiMedx (MDXG), Editas Medicine (EDIT) and Vericel (VCEL) on 5/4 and Ultragenyx pharmaceuticals (RARE) on 5/5 and Agenus (AGEN) on 5/10 so far.
Whether information or intelligence is good, bad or somewhere in between; 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.
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.
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 securities referred to in this publication.