May 31, 2022 7:30am
A short week, the last session of May and a jobs report as we head into the summer doldrums and recessionary pressures
Pre-open indications: 7 Downside Indications,1 Puff/Pump/Promote and 6 Watch-Outs
RMi outlines a daily bell ringing 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 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.
The 7:30 A.M., ET edition
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 DOWN -0.32% (-98 points), S&P futures are DOWN -0.22% (-9 points) and NASDAQ futures are UP +0.16% (+19 points) early in the pre-open – so far,
Futures are mixed in early Tuesday morning trading, following last week’s bounce,
European stocks slip as investors digest inflation data of 8.1% in May; Oil prices rose after EU leaders agreed to ban 90% of Russian crude.
Asia-Pacific stocks were mixed as investors watched for market reaction to the release of official Chinese factory activity data for May.
Futures fell in early Tuesday morning trade, following last week’s bounce …
All three of the major indexes closed last week higher. The Dow finished up 6.2% snapping its longest losing streak of eight weeks. Last week, the S&P 500 is 6.5% higher and the Nasdaq is up 6.8%.
An appropriate quote to be “lifted”, “we could get some sharp snapbacks in stocks that won’t represent a true turning point for the market,” Strategas investment strategist Ryan Grabinski said in a Friday report. “The building of a bear market is a process, and we could still decline further.”
RegMed Investors’ (RMi) closing bell: “RegMed Investors’ (RMi) closing bell: cell and gene therapy sector Ups-the-Ante on Friday after a dismal week” … https://www.regmedinvestors.com/articles/12450
Ebb and flow –
May - 11 positive and 9 negative closes
· April - 1 holiday, 6 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
RegMed Investors (RMi) - Q1/22 Cell and Gene Therapy Earnings Scorecard Results … https://www.regmedinvestors.com/articles/11628
Companies in my headlights – It’s your decision; I provide ideas and context: INDICATIONS
The downslide is coming and upon us – so I am NOT saying SELL into a downdraft nor am I espousing BUYs.
- Agenus (AGEN) closed UP +$0.11 to $1.61 with a negative -$0.01 or -0.762% aftermarket (Friday) indication,
- Avrobio (AVRO) closed UP +$0.058 to $1.61 with a negative -$0.01 or -0.89% pre-open indication,
- Beam Therapeutics (BEAM) closed up +$3.51 with a negative -$0.07 or -0.19% pre-open indication,
- BioLife Solutions (BLFS) closed up +$1.60 To $14.73 with a negative -$0.45 or -3.05% aftermarket (Friday) indication,
- CRISPR Therapeutics (CRSP) closed up +$3.11 to $58.34 with a negative -$0.58 or -0.99% pre-open indication,
- Fate Therapeutics (FATE) closed up +$1.15 to $23.58 with a negative -$0.02 or -0.08% pre-open indication,
- Global Blood therapeutics (GBT) closed up+$0.69 to $26.15 with a negative -$0.15 or -0.57% aftermarket (Friday) indication,
Showing “some” positive indication that could/would likely change to a DELL into Strength:
- Applied Genetic Technologies (AGTC) closed down -$0.0236 to $0.84 with a positive +$0.03 or +3.32% aftermarket (Friday) indication.
- AxoGen (AXGN) closed up +$0.14 to $9.972 with a positive +$0.13 or +1.34% aftermarket (Friday) indication,
- Caribou Biosciences (CRBU) with a positive +$0.11 or +1.29% pre-open indication,
- Editas Medicine (EDIT) closed up+$0.82 to $11.68 with a positive -$0.07 or +0.60% pre-open indication,
- Homology Medicine (FIXX) closed up +$0.06 to $1.51 with a positive +$0.10 or +6.62% aftermarket (Friday) indication,
- Sangamo (SGMO) closed up +$0.14 to $3.68 with a positive +$0.08 or +2.17% aftermarket (Friday) indication
Puff/Pump and Promote: Maintaining SELL
Biostage (OTCQB: BSTG) closed flat again with 15 shares traded with six (6 – May 20 to May 27) sessions being flat.
- WARNING: Earnings reported a VERY SAD picture of a company’s status without U.S investors and reliance on non-U.S. Chinese investors. Another PPM -private placement – this one for $5.1 M without a price per share notification. Also, the terminal death lawsuit just got settled (4/28) for $6 M with a PPM – a preferred convertible debt financing. is it the ONLY avenue to finance utilizing non-U.S. Chinese investors?
The BOTTOM LINE: I am concerned, after last week’s moves after three (3) upside sector inclines following Monday and Tuesday’s declines…
Sustainability is the issue of this week’s, was last week ... a relief bounce but, I do NOT think … it marks A bottom.
The Sector’s rally started off shaky with but, “our” universe of cell and gene therapy equities rebounded strongly the rest of the week, delivering strong weekly gains.
I am not always right but, more than frequently not wrong … I just DO NOT trust this market … too much fear and panic. This continuing state of volatility confirms fears that I have been expressing in these daily and weekly posts.
Again, as have I written (repeatedly), “There's a battle in the cell and gene therapy sector between which or what breaks first: share pricing resilience or tumbling into yet another downturn as fear remains beneath the strength of any positive close” …
I have NOT seen ANY step-up of declining company investment by ANY CEOs and their management teams – WHY NOT?
I try to keep it simple … and short!
I caution investors that the severe share pricing’s – technical and fundamental damage has been suffered these past several months which will take longer than a few good sessions to repair.
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.