August 4, 2022 7:49am
Substitute algorithms for the apple, another warning
Earnings today: Intellia Therapeutics (NTLA) and Sangamo Therapeutics (SGMO)
Pre-open indications: 3 earnings shots-in-the-dark, 6 Negative Indications, 2 Positive Indications, 1 Sell into Strength 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.
I DEVOTE a HUGE amount of time to “reckoning” the geography of my coverage group - 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 +0.12% or (+40 points), S&P futures are UP +0.19% (+8 points) and NASDAQ futures are UP +0.23% (+41 points) early in the pre-open – so far,
Stock futures were slightly up Thursday,
European stocks were seemingly flat,
Asia-Pacific shares traded higher.
Indexes rallied Wednesday led by better-than-expected economic data. The Dow closed UP +416.33 points (+1.28%); the S&P closed UP +63.98 points (+1.56%) while the Nasdaq closed UP +319.40 points (+2.59%).
Earnings’ Update: Regenxbio (RGNX) reported a net loss of -$68.2 M or -$1.58 per share with a cash position of $682 M and a runway until 2025
Economic Data Docket: weekly jobless claims
RegMed Investors’ (RMi) closing bell: “the sector parties to the upside, the question is what happens when the music ends. Hate to be a kill-joy, the “algos” are salivating” … https://www.regmedinvestors.com/articles/12547
Ebb and flow –
Q3/22 – August – 2 positive and 1 negative close
July -1 holiday, 10 negative and 10 positive closes
June – 1 holiday, 9 positive and 11 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
Expectation from those companies’ releasing earnings today… the shots-in-the dark …
· Agenus (AGEN) pre-open -$0.04 or -1.53%
· Intellia Therapeutics (NTLA) - pre-open -$170 or -2.37%
· Sangamo Therapeutics (SGMO) - none
Maintaining Sell into Strength:
· Verve Therapeutics (VERV) closed up +$2.83 with a flat +$0.00 pre-open indication,
Pre-open Negative Indications:
· Alnylam Pharmaceuticals (ALNY) -$3.60 or -1.70% post earnings
· AxoGen AXGN) -$0.43 or -4.11% post earnings
· Caribou Biosciences (CRBU) -$0.05 or -0.58%
· Editas medicine (EDIT) -$0.01 or -0.05% post earnings
· Ions Pharmaceuticals (IONS) -$0.72 or -1.76%
· Ultragenyx (RARE) -$1.85 or -3.45%
Global Blood Therapeutics (GBT) closed up +$1.00 to $33.93 with a positive +$8.87 or +26.14% pre-open indication
CRISPR Therapeutics (CRSP) closed up +$2.24 to $78.58 with a positive +$2.41 or +3.07% pre-open indication
Puff/Pump and Promote: Maintaining SELL
Biostage (OTCQB: BSTG) closed flat yet again with 0 shares after Wednesday, Tuesday and Monday’s flat traded 0 flats after Friday’s $0.00 with 0 shares traded, Thursday’s up +$0.50 with 600 shares traded and last Wednesday’s -$0.05 with 545 shares traded <3 mo. Average = 1,206 shares>
· Its BOD approved on 7/28 amending and restating their Certificate of Incorporation to affect a reverse split of the issued and outstanding common stock at a ratio of not less than 1-for-1.25 and not greater than 1-for-5. What about all those PPM (private placements) as an offering follows?
· BSTG seems to have the ONLY avenue to finance to utilize non-U.S. Chinese investors? Are we in favor of Beijing funding and continue to control BSTG in our own country? Another question, makes one wonder, Newbridge Securities?
· How much lipstick is a lot on this pig with an almost 4-year-old IND and NO clinical trial initiation?
- WATCH and be ready for a BIG reverse of shares to enable offering from multiple private placements as it tries to facilitate an offering with Newbridge Securities
The BOTTOM LINE: I try to keep it simple … and short!
Earnings, earnings and earnings continue t0 ramp-up so far this week …
Sector equity pricing are trending in a roller coaster fashion. Also, consensus expectations are low.
We always need a … villain and they are multiplying – low volume as “Earnings’ season is here and now, investors NEED to focus on LPS (loss-per-share), trial status, product revenues, collaboration revenues and cash positions i.e., runways”.
This week: Precigen (PGEN) and Global Blood Therapeutics (GBT) on 8/8 followed by Agenus (AGEN), BioLife Solutions (BLFS) and Ionis Pharmaceuticals (IONS) on 8/9, Brainstorm Cell Therapeutics on 8/15, Monday … to date.
As I have written, “It’s STILL nice to be RIGHT” about the direction of the sector having “DEVOTED a HUGE amount of time to “reckoning” the geography of my coverage group.”
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.