June 2, 2022 7:29am
Sentiment is slippery with more than a lot of uncertainty
Pre-open indications: 10 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 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 UP +0.39% (+127 points), S&P futures are UP +0.46% (+19 points) and NASDAQ futures are UP +0.58% (+72 points) early in the pre-open – so far,
U.S. stock futures were higher on Thursday,
European markets were also higher,
Asia-Pacific markets declined with Australia’s April trade surplus coming in higher than expected while Hong Kong’s Hang Seng index led losses regionally declining -1.67%,
Yesterday, the stock market opened with solid gains, but pared losses in the afternoon, helped by the Fed's Beige Book, but then faded.
The Dow shed 176.89 points, or -0.54% while the S&P 500 fell 30.92 points or -0.75%, and the Nasdaq retreated 86.93 points or -0.72%.
Wednesday suffered modest losses for a second straight session, off intraday lows but fading again at the close while the Nasdaq continuing to find support at its 21-day moving average.
Economic Data Docket: ADP will post data from its national employment report at 8:15 a.m. ET on today, shortly before the Department of Labor releases weekly jobless claims.
RegMed Investors’ (RMi) closing bell: “The cell and gene therapy sector reminds me of Sisyphus. Condemned eternally to repeatedly roll a heavy rock up a hill only to have it roll down again as it nears the top” … https://www.regmedinvestors.com/articles/12454
Ebb and flow –
June – 1 negative close
· May - 11 positive and 10 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 - added Mesoblast (MESO)
Companies in my headlights – It’s your decision; I provide ideas and context: INDICATIONS
Showing positive indication:
Verve Therapeutics (VERV) closed down -$0.72 to $14.44 with a positive +$0.56 or +3.88% pre-open indication,
Applied Genetic Technologies (AGTC) closed down -$0.065 to $0.87 with a positive +$0.07 or +8% pre-open indication,
BioLife Solutions (BLFS) closed down -$0.36 to $13.36 after Tuesday’s +$1.60 with a positive +$0.64 or +4.79% pre-open indication,
CRISPR Therapeutics (CRSP) closed down -$0.18 to $57.87 after Tuesday’s -$0.29 with a positive +$0.23 or +0.40% pre-open indication,
Editas Medicine (EDIT) closed down -$0.42 to $10.97 after Tuesday’s -$0.29 with a positive +$0.17 or +1.55% pre-open indication,
Global Blood Therapeutics (GBT) closed down -$0.92 to $24.02 after Tuesday’s -$1.21 with a positive +$1.20 or +5% pre-market indication,
Intellia Therapeutics (NTLA) closed down -$3.28 to $42.86 with a positive +$0.14 or +0.33% pre-open indication,
Regenxbio (RGNX) closed up +$0.14 to $21.18 after Tuesday’s -$0.74 with a positive +$1.05 or +4.96% pre-open indication
Vericel (VCEL) closed down -$0.83 to $26.32 after Tuesday’s-$0.82 with a positive +$0.66 or +2.51% pre-open indications,
Voyager Therapeutics (VYGR) closed up +$0.07 to $6.13 with a positive +$0.11 or +1.88% pre-open indication,
Puff/Pump and Promote: Maintaining SELL
Biostage (OTCQB: BSTG) closed down -$0.37 to $4.75 with 100 shares traded after Tuesday’s -$0.22 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 BSTG utilizing non-U.S. Chinese investors?
The BOTTOM LINE: New month began yesterday and the end coming for Q2 – what or which went down has a potential of going up.
The cell and gene therapy sector suffered a big loss for a second straight session:
· Wednesday ended with a negative close of 6/29 and 1 flat.
· Tuesday ended with a negative close of 7/28.
· Monday was a market holiday.
· Friday ending with a positive close of 33/1 and 1 flat.
· Thursday closed positive with 27 incliner, 6 decliners and 2 flats
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.