June 30, 2022 8:47am
Sentiment and confidence have suffered with more to follow as June ends with jobless claims and inflation data to be disclosed
Pre-open indications: 5 Negative Indications, 1 Positive Indications and 1 Puff/Pump/Promote
News: Inflation held at stubbornly high levels in May, though the monthly increase was slightly less than expected, according to a gauge closely watched by the Federal Reserve. Core personal consumption expenditures prices rose 4.7% from a year ago, 0.2% points less than the previous month
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 8:45 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 -1.09% (- 293 points), S&P futures are DOWN -1.07% (-40 points) and NASDAQ futures are DOWN -1.11% (-129 points) early in the pre-open – so far,
U.S. stock index futures were falling on Thursday,
European indexes were trading lower,
Asia-Pacific indexes fell
Economic Data Docket: Inflation held at stubbornly high levels in May, though the monthly increase was slightly less than expected, according to a gauge closely watched by the Federal Reserve. Core personal consumption expenditures prices rose 4.7% from a year ago, 0.2 percentage points less than the previous month
Henry’omics:
Indexes ended a seesaw session mixed Wednesday spending much of the session wavering between red and green, with the focus on prospects of a looming recession.
The Nasdaq joined the S&P 500, closing nominally lower, while the blue-chip Dow posted a modest gain. The Nasdaq was on its way to its worst-ever first-half performance, while the Dow appeared on track for its biggest January-June percentage drop since the financial crisis.
Much of that concern is linked to the impact central bank rate hikes, designed to fight the fastest inflation in a generation, will have on both consumer demand and broader economic growth.
RegMed Investors’ (RMi) closing bell: “cell and gene therapy sector trended upward with the pathway was percentage mixed” … https://www.regmedinvestors.com/articles/12494
Ebb and flow –
Q2/22 –
June – 1 holiday, 9 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
Negative Indications:
bluebird bio (BLUE) closed up +$0.54 to $4.58 <52-week low of $2.87> with a negative -$0.17 or -3.69% pre-open indication. Just waiting for an offering announcement.
Chinook Therapeutics (KDNY) closed up +$0.02 to $18.01 <52-week low of $10.48 and a high of $19.59> after Tuesday’s -$0.73 after Monday’s +$0.67 with a negative -$0.23 or -1.28% pre-open indication,
Global Blood Therapeutics (GBT) closed up +$2.44 to $32.28 <52-weeekof $21.65> with a negative -$0.21 or -0.65% pre-open indication,
Intellia Therapeutics (NTLA) closed up +$0.40 to $52.43 <52-week low of $37.08> after Tuesday’s -$1.37 with a negative -$1.43 or -2.73% pre-open indication,
Vericel (VCEL) closed up +$0.96 to $25.32 <52-week low of $22.42> with a negative -$0.32 or -1.26% pre-open indication,
Positive Indication:
Beam Therapeutics (BEAM) closed up +$0.02 to $40.42 <52-week low of $27.77> after Tuesday’s -$2.69, Monday’s +$0.58 and last Friday’s +$0.94 with a positive +$0.77 or +1.90% pre-open indication,
Puff/Pump and Promote: Maintaining SELL
Biostage (OTCQB: BSTG) closed up +$0.15 to $4.65 with 1,015 shares traded after Tuesday’s +$0.20 with 372 shares traded, Monday’s $0.00 again, Friday’s flat to $4.30 with 0 shares traded and last Thursday’s -$0.09 with 100 shares traded.
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: the cell and gene therapy sector bounced back from Tuesday, Monday and last Friday’s losses.
The sector is being searched for direction; but I believe will show further weakness, with winners getting “PacManed” by electronic and algorithmic trading.
Thursday is full of economic indications …
With the uptrend under pressure, it's not a good time to be making new buys or holding more than token exposure.
The past eight (8) sessions have basically been a wash:
· Wednesday closed positive with 20 incliners, 14 decliners and 1 flat
· 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 … key word ...
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.
