June 29, 2022 7:57am
As the Q2 comes to an end on Thursday, there are rising fears for “our” cell and gene therapy sector
Pre-open indications: 1 News flow, 3 Negative Indications, 3 Noticeable Low Indications and 1 Puff/Pump/Promote
News: Agenus (AGEN pre-open +$0.16 or +8.70%) expanded data from the P1b study of botensilimab (Fc-enhanced anti-CTLA-4) and balstilimab (anti-PD-1) in patients with microsatellite stable colorectal cancer (MSS CRC). The data demonstrate that the combination offers strong durability and superior efficacy than what has been reported in separate trials for standard of care and other investigational therapies in 2L+ MSS CRC.
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 +0.05% (+15 points), S&P futures are DOWN -0.03% (-1 points) and NASDAQ futures are DOWN -0.12% (-14 points) early in the pre-open – so far,
Stock futures are weak and falling on Wednesday,
European markets are down and pulling back,
Asia-Pacific markets fell as multiple countries experience falling consumer confidence and sentiment
Henry’omics:
On Monday, the Dow fell -62.42 points or -0.2%, the S&P 500 lost -11.63 points or -0.3% and the Nasdaq dropped -93.05 points or -0.7%; on Tuesday, the Dow closed DOWN -491.27 points (-1.56%); the S&P closed DOWN -78.56 points (-2.01%) while the Nasdaq closed DOWN -343.01 points (-2.98%) – that’s a whole lot of a gap downward to make-up.
The Nasdaq is headed toward its worst three (3) month period (quarter)since 2008.
Economic Data Docket: investors need to be aware of comments from Fed Chair Powell at the European Central Bank forum
RegMed Investors’ (RMi) closing bell: “wrestling with the algorithmic alligators. They keep turning and turning the share price to devour any upside “… https://www.regmedinvestors.com/articles/12492
Ebb and flow –
Q2/22 –
June – 1 holiday, 8 positive and 10 negative closes
· May - 11 positive and 10 negative closes
· April - 1 holiday, 6 positive and 13 negative closes
Q1/22:
· 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
News Flow:
Agenus (AGEN) closed down -$0.04 to $1.84 with a positive indication of +$0.16 or +8.70% pre-open indication,
Noticeable lows and Potential upside Indications:
BioLife Solutions (BLFS) closed down -$0.26 to $14.66 <52-week low of $10.40 and a high of $60.67> after Monday’s -$0.80 with a positive +$0.73 or +4.98% pre-open indication.
Verve Therapeutics (VERV) closed down -$0.69 to $15.67 <52-week low of $10.70 and a high of $78.00> with a positive +$0.78 or +4.98% pre-open indication.
Chinook Therapeutics (KDNY) closed -$0.73 to $17.99 <52-week low of $10.48 and a high of $19.59> after Monday’s +$0.67 with a positive +$0.30 or +1.67% pre-open indication,
Negative Indications:
Intellia Therapeutics (NTLA) closed down -$1.37 to $52.03 <52-week low of $37.08> with a negative -$0.78 or -$1.50% pre-open indication,
Beam Therapeutics (BEAM) closed down -$2.69 to $40.40 <52-week low of $27.77> after Monday’s +$0.58 and Friday’s +$0.94 with a negative -$0.68 or -1.68% pre-open indication,
Editas Medicine (EDIT) closed down -$0.59 to $12.45 <52-week low of $9.59> with a negative -$0.34 or -2.73% pre-open indication,
Puff/Pump and Promote: Maintaining SELL
Biostage (OTCQB: BSTG) closed up +$0.20 to $4.50 with 372 shares traded after Monday’s $0.00 again after Friday’s flat to $4.30 with 0 shares traded, Thursday’s -$0.09 with 100 shares traded following last Wednesday $0.00.
WARNING: “Earnings” will represent a VERY SAD picture of a company’s status without U.S investors and reliance on non-U.S. Chinese investors.
- BSTG seems to always finagling a finagle and NOTHING is CLEAN and STRAIGHTFORWARD; is it the ONLY avenue to finance to utilize non-U.S. Chinese investors?
- WATCH and be ready for a BIG reverse of shares to enable offering from multiple private placements
The BOTTOM LINE: from last night’s post, Tuesday was a wipe-out, after a drubbing from two (2) sessions of losses on Monday, that followed two (2) positive closes; the sector resume its downward trend Tuesday as the Nasdaq climbed as much as 1% but reversed lower to a loss of 0.6%.
The past seven (7) sessions have basically been a wash:
· Tuesday closed negative with 8 incliner and 27 decliners
· Monday (6/27) closed negative with 11 incliner, 22 decliners and 2 flats
· Friday closed negative with 13 incliner, 18 decliners and 4 flats
· Thursday closed positive with 32 incliner and 3 decliners
· Wednesday closed positive with 27 incliner, 7 decliners and 1 flat
· Tuesday closed positive with 26 incliner, 7 decliners and 2 flats
· Monday (6/20) was market holiday
At some point this aggressive selling is going to dissipate but it doesn't seem like it's going to be anytime soon.
Cell and gene therapy equity investors remain closely attuned to deceleration of share pricing with inflation continuing to run at multi-decade highs and monetary policymakers maintaining a firm stance that their priority remains bringing down prices even at the expense of some growth.
Question, BUY the dips or put gas in the car to overpay at the supermarket!
With quarterly corporate earnings season set the pick-up in the next few weeks, the focus will soon shift to how companies have been “dimed” (i.e., 10%) percentage down navigating persistent conviction issues alongside softening sentiment.
Expectation …
U.S. equity futures traded mixed on Wednesday; potentially inciting more than a mild response to an oversold sector – a usual state of events.
There will be a few pick-up stocks – remember, the month and quarter are coming to a close – earnings are coming …
Investors may want to at least consider taking partial profits – when they can; we are approaching earnings season, no sooner did we finish than we start again.
I STILL haven’t heard the bugle sound of a sustainable advance or rally … rising rates and slowing economic growth are not a supportive environment for investors.
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 investments by ANY CEOs and their management teams – WHY NOT?
I try to keep it simple … and short!
There is VALUE out there however, it’s about playing or betting the timing of the sector.
We are left with choosing to hang on to “our” portfolio position as it is a given that the sector shifts from fierce, sudden sell-offs to gaining altitude or ascending not to its value but, better than it was.
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.
