June 1, 2022 7:58am
Depends on which index the algorithms “rule” first?
News: Sage Therapeutics (SAGE +$0.73) and Biogen's (BIIB) experimental drug to treat postpartum depression met the main goal of a late-stage study. The drug, zuranolone, showed improvement in depressive symptoms among women with postpartum depression at day 15. It also met its secondary goals, leading to improvement in symptoms as early as the third day of treatment compared with placebo.
Pre-open indications: 9 - Upside Indications, 1 - Puff/Pump/Promote
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 8:00 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 UP +0.39% (+130 points), S&P futures are UP +0.18% (+7 points) and NASDAQ futures are UP +0.04% (+5 points) early in the pre-open – so far,
Stock futures were headed to a slightly positive open on Wednesday,
European markets were variable,
Asia-Pacific markets were mixed
For the month of May, the Dow and S&P 500 eked out small gains, after last week’s strong rally chipped away at long losing streaks for the indexes while the Nasdaq shed more than 2%.
With Q1 earnings season nearly complete and the Fed having strongly signaled its rate hike intentions for its next two meetings; the cell and gene therapy sector could struggle for direction over the summer.
Economic Data Docket:
investors will get an updated look at manufacturing and construction spending data.
- The first day of June also marks the start of the Fed’s plan to reduce its balance sheet, which ballooned to nearly $9 trillion during the Covid pandemic.
Mortgage demand falls to the lowest level since the end of 2018, even as interest rates ease a bit
- Applications for a mortgage to purchase a home fell 1% last week compared with the previous week, according to the Mortgage Bankers Association.
- Volume was 14% lower than the same week one year ago.
RegMed Investors’ (RMi) closing bell: “difficult to navigate as volatility dives the sector at the month of May ends. More than frequently right as I watch the sector, so investors can find the answers to portfolio questions asked” … https://www.regmedinvestors.com/articles/12452
Ebb and flow –
June – first day
· May - 1 holiday, 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
One news flow and positive indication:
Sage Therapeutics (SAGE) closed down -$0.97 to $31.27 but, has news of that zuranolone, showed improvement in depressive symptoms among women with postpartum depression at day 15 with a positive +$0.73 or +2.33% pre-open indication.
Beam Therapeutics (BEAM) closed down -0.89 to $35.18 with a positive +$0.02 or +0.06% pre-open indication,
BioLife Solutions (BLFS) closed down -$1.01 to $13.72 after Tuesday’s +$1.60 with a positive +$0.48 or +3.50% pre-open indication,
CRISPR Therapeutics (CRSP) closed down -$0.29 to $58.05 after Tuesday’s +$3.11 with a positive +$0.58 or +1% pre-open indication,
Editas Medicine (EDIT) closed down -$0.29 to $11.39 after Tuesday’s +$0.82 with a positive +$0.54 or +4.74% pre-open indication,
Fate Therapeutics (FATE) closed down -$0.48 to $23.10 after Tuesday’s +$1.15 with a positive +$0.14 or +0.61% pre-open indication,
Global Blood Therapeutics (GBT) closed down -$1.21 to $24.94 after Tuesday’s +$0.69 with a positive +$0.31 or +1.24% pre-market indication,
Regenxbio (RGNX) closed down-$0.74 to $211.04 with a positive +$0.41 or +1.95% pre-open indication
Caribou Biosciences (CRBU) closed down -$0.22 to $8.33 with a positive +$0.05 or +0.60% pre-open indication,
Puff/Pump and Promote: Maintaining SELL
Biostage (OTCQB: BSTG) closed down -$0.22 to $5.12 with 330 shares traded after having 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: New month and the end coming for Q2 - shuffle the cards.
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 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.
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.