April 28, 2022 4:49pm

Lows had gotten lower and an oversold wave of buying pushed the sector upward; still a problem are 52-week lows

Pre-open indications: 5 HITs and 3 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 +614.46 points (+1.85%); the S&P closed UP +103.54 points (+2.47%) while the Nasdaq closed UP +382.60 points (+3.06%)

 

Henry’omics:

The Nasdaq moved a yard-stick higher Thursday …

Stocks have struggled this month amid concerns about slowing global growth, rising inflation and the Federal Reserve’s monetary tightening. <CNBC>

Pharma: Merck (MRK) shares rose 5% and led gainers on the Dow after earnings beat. Eli Lilly (LLY) was also higher after their quarterly reports.

Interesting Fact: Solid biosciences (SLDB) is the 16th Massachusetts-based life sciences company to conduct layoffs this year. Most of the workforce reductions have been due to clinical trial misses, but they come amid a down market for the industry as a whole. Nearly 1,000 local biopharma workers have lost their jobs in 2022. <Business Journal research>

Economic data Docket: The U.S. Commerce Department said gross domestic product fell 1.4% in Q1, the first contraction in the U.S. economy since the Q1-Q2 2020 declines during the worst of the pandemic. It also marked a sharp slowdown from the previous quarter's 6.9% burst. Economists had expected a 1.1% increase. The largest drag on the economy was the large trade deficit, which hurt headline growth by over 3% points.

Also, claims for jobless benefits fell to 180,000 from 185,000 the previous week, basically in line with forecasts.

 

52-week lows: increasing …

  • Beam Therapeutics (BEAM) at $38.84,
  • IBB at 117.40,
  • XBI at 74.86,
  • Caribou Biosciences (CRBU) at $7.06,
  • CRISPR Therapeutics (CRSP) at $50.03,
  • Editas Medicine (EDIT) at $13.11,
  • Adverum Biotechnologies (ADVM) at $1.06,
  • Sangamo Therapeutics (SGMO) at $4.27,
  • Applied Genetic Technologies (AGTC) at $0.92,
  • bluebird bio (BLUE) at $3.61,
  • AVROBIO (AVRO) at $0.93,
  • Homology Medicine (FIXX) at $1.59,
  • Solid Biosciences (SLDB) at $0.62,
  • Intellia Therapeutics (NTLA) at $47.54
  • Precigen (PGEN) at $1.37,

 

RegMed Investors’ (RMi) pre-open: “after being down for so long this month, it’s time for an upside/oversold bump. GDP release – today and Personal Income and Outlays on Friday” … https://www.regmedinvestors.com/articles/12410

 

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

  • Thursday opened negative at 10 up/22 downs and 3 flats, dived to 1/32 and 1 flat at 11:30a.m., flipped positive at the mid-day at 20/13 and 2 flats, ending with a positive close of 21/13 and 1 flat,

 

Pre-open Indications: 5 HITs < Agenus (AGEN +$0.01), Biostage (BSTG -$0.00 with 1,905 shares traded, Editas Medicine (EDIT +$0.05), Intellia Therapeutics (NTLA +$0.98), Alnylam Pharmaceuticals (ALNY -$14.68)> 3 MISS < AVROBIO (AVRO -$0.0048), Beam Therapeutics (BEAM -$0.26), Fate Therapeutics (FATE -$0.22)>

 

Key Metrics:

  • Thursday - Sector volume was LOW with 7 of the 21-upside having higher than the 3-month average volume with LOW volume of 7 of 13-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 flat 0.00% and the XBI was up +0.36%

  • Thursday, the IBB was flat 0.00% and the XBI was up +0.36%

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Thursday was down -1.61 points or -5.09% at 29.99

 

Jumping with share pricing momentum (10 of 21):

  • Intellia Therapeutics (NTLA +$0.95 after Wednesday’s -$0.51, Tuesday’s -$3.74 and Monday’s +$2.93),
  • Sage Therapeutics (SAGE +$0.73 after Wednesday’s +$0.24 and Tuesday’s -$1.77),
  • Regenxbio (RGNX +$0.53),
  • Chinook therapeutics (KDNY +$0.49),
  • Editas Medicine (EDIT +$0.37 after Wednesday’s -$0.40, Tuesday’s -$1.03 and Monday’s +$0.40),
  • uniQure NV (QURE +$0.31 after Wednesday’s -$0.26 and Tuesday’s -$0.92),
  • BioLife Solutions (BLFS +$0.28 after Wednesday’s -$0.46, Tuesday’s -$0.60 and Monday’s +$1.20),
  • AxoGen (AXGN +$0.21 after Wednesday’s +$0.08),
  • Ultragenyx (RARE +$0.19 after Wednesday’s +$0.24, Tuesday’s -$4.92 and Monday’s +$0.60),
  • Caribou Biosciences (CRBU +$0.16),

Hammered in today’s market (13 of 13):

  • Alnylam Pharmaceuticals (ALNY -$11.76),
  • Vericel (VCEL -$0.58 after Wednesday’s-$0.63 and Tuesday’s -$1.73),
  • CRISPR Therapeutics (CRSP -$0.34 after Wednesday’s -$0.84, Tuesday’s -$4.47 and Monday’s +$1.59),
  • Global Blood Therapeutics (GBT -$0.31 after Wednesday’s -$0.41, Tuesday’s -$2.09 and Monday’s +$1.50),
  • Ionis Pharmaceuticals (IONS -$0.31),
  • Beam Therapeutics (BEAM -$0.26 after Wednesday’s -$0.34, Tuesday’s -$4.06 and Monday’s +$2.09),
  • Fate Therapeutics (FATE -$0.22 after Wednesday’s -$0.57, Tuesday’s -$3.01 and Monday’s +$0.82),
  • Cellectis SA (CLLS -$0.19 after Wednesday’s +$0.13),
  • Bellicum Pharmaceuticals (BLCM -$0.10),
  • Brainstorm Cell Therapeutics (BCLI -$0.06 after Wednesday’s +$0.06),
  • Solid Biosciences (SLDB -$0.055),
  • Sangamo Therapeutics (SGMO -$0.04),
  • AVROBIO (AVRO -$0.048),

Flat:

  • Biostage (BSTG)

 

April, Q2/2022:

  • Thursday closed positive with 21 incliners, 13 decliners and 1 flat

 

The BOTTOM LINE: Cell and gene therapy sector investors are weathering yet another volatile trading sessions this week as equities struggled to the upside by the close of the session.

Two (2) sector earnings (ALNY and SLDB) from my covered list and they are BOTH charging their equity pricing into the ground.

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>

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 Sage Therapeutics (SAGE) will report 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) and Intellia therapeutics (NTLA) 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.