June 9, 2022 7:57am
After two (2) positive sessions after a negative follows two (2) positive closes
“Do you know the … companies names? I’m not asking you – I am telling you” <Abbott & Costello”
Pre-open indications: 5 Upside Indications, 3 Downside Indications and 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 +0.43% (+141 points), S&P futures are UP +0.48% (+19 points) and NASDAQ futures are UP +0.52% (+66 points) early in the pre-open – so far,
Stock futures were slightly higher Thursday,
European stocks slid lower,
Asia-Pacific stocks were mixed.
The Dow closed DOWN -269.96 points (-0.81%); the S&P closed DOWN -44.93 points (-1.08%) while the Nasdaq closed DOWN -88.96 points (-0.73%)
Investors on Wednesday continued to look for signs of slowing economic growth ahead of May’s consumer price index reading slated for Friday. The data is expected to come in slightly below April’s numbers and could indicate that inflation has reached its peak. <CNBC>
Economic Data Docket: Initial jobless claims
RegMed Investors’ (RMi) closing bell: “cell and gene therapy sector rockets altitude. As I wrote this a.m., “the market giveth, palms it or takes it away just as fast” … https://www.regmedinvestors.com/articles/12465
Ebb and flow –
June – 4 positive and 2 negative closes
· 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
Companies in my headlights – It’s your decision; I provide ideas and context: INDICATIONS
Exhibiting negative indications:
Regenxbio (RGNX) closed down -$0.56 to $22.66 after Tuesday’s +$1.20 <52-week low of $18.69> after Monday’s -$0.81 with a negative -$0.56 or -2.74% pre-open indication,
Beam Therapeutics (BEAM) closed up +$1.66 to $40.18 after Tuesday’s +$2.63 and Monday’s -$1.39 with a negative -$0.03 or -0.07% pre-open indication,
Ultragenyx (RARE) closed up +$1.16 to $54.39 after Tuesday’s +$3.97 and Monday’s -$2.15 with a negative -$1.64 or -3.02% pre-open indication,
Exhibiting positive indication:
Editas Medicine (EDIT) closed up +$0.38 to $12.87 after Tuesday’s +$0.90, Monday’s -$0.32, Friday’s +$0.37 and last Thursday’s +$0.57 with a positive +$0.17 or +1.32% pre-open indication,
Chinook Therapeutics (KDNY) closed up +$0.44 to $17.69 after Tuesday’s +$0.87, Monday’s -$1.05, Friday’s +$1.41 and last Thursday’s -$1.41 with positive +$0.026 or +1.47% pre-open indication,
Caribou Biosciences (CRBU) closed up +$0.15 to $9.07 after Tuesday’s +$0.64 <52-week low of $6.41> after Monday’s -$0.46 with a positive +$0.42 or +4.63% pre-open indication,
Intellia Therapeutics (NTLA) closed up +$3.90 to $52.00 after Tuesday’s +$2.91) and Monday’s -$0.12 with a positive +0.75 or +1.44% pre-open indication,
Mesoblast (MESO) closed down -$0.12 to $2.94 after Tuesday’s flat after Monday’s -$0.26 <52-week low of $3.03> after Friday’s -$0.09 with a positive +$0.08 or +2.72% pre-open indication,
Puff/Pump and Promote: Maintaining SELL
Biostage (OTCQB: BSTG) closed flat again with 2 shares traded after Tuesday’s $0.00 at $4.68 with 65 shares traded, Monday’s +$0.23 with 3,575 shares traded, Friday’s -$0.33 with 250 shares traded and last Thursday’s flat with 1 share traded.
- 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?
· So, Has BSTG filed its Annual Report to the FDA, isn’t it a “Material Fact”?
The BOTTOM LINE: I see a few positive upsiders with negative pre-open indications.
I don’t hear the bugle sound of an advance or rally … rising rates and slowing economic growth are not a supportive environment for investors.
“The major indexes continue to show sideways action, finding support at their 21-day moving averages. However, the Russell 2000 dropped back below its 50-day and 10-week lines. Further sideways action could be constructive for the market rally, letting more bases and handles form. But with the 21-day the lone line trending higher, and the 50-day and 10-week lines coming down steadily, the major indexes could come under pressure to break higher or lower.” <IBD>
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” …
This continuing state of volatility confirms fears that I have been expressing in these daily and weekly posts.
What changes …
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!
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.