August 29, 2022 7:49am
News: Applied Genetic Technologies (AGTC) closed down Friday -$0.006 to $0.42, following 1/3/22’s $2.06 and 8/30/21’s $3.54. An utter CEO share pricing failure, while Sue Washer, CEO and President gets a 2022 $185,055 bonus to her salary of $575,000.00 <8-K dated 8/26/22>. Looking back at share pricing history WHY does she deserve a bonus? Investors are co-owners; she needs and MUST step-down or be replaced. Also, investors should know about the toll of those exiting, and severe problems with recruiting qualified management due to her management – serious investors won’t touch this PIG!
Pre-open indications: 4 Negative Indications, 3 Positive 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.
More frequently right than consequentially wrong; there is VALUE out there. What I provide is an intelligence daily.
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 DOWN -0.84% or (-272 points), S&P futures are DOWN -0.99% (-40 points) and NASDAQ futures are DOWN -1.26% (-159 points) early in the pre-open – so far,
Stock futures fell Monday as worries over rising rates and tighter monetary policy added fuel to a rout that began in the previous session,
European markets lower after Powell’s interest rate warning,
Asia Pacific markets are also down.
Indexes sold off as the selloff intensifying Friday afternoon following Fed Chair Powell's “pithy” speech at Jackson Hole vowing to fight inflation until the battle has been won by bringing the annual cost of living back down to the central banks’ 2% target.
The Dow closed DOWN -1,008.38 points (3.03%); the S&P closed DOWN -141.46 points (-3.37%) while the Nasdaq closed DOWN -497.55 points (-3.94%).
Indexes mark its worst daily percentage decline since June.
RegMed Investors’ (RMi) closing bell: “back to bottom dragging with share pricing as weight sinkers. Feeding the algos instead of investors.” … https://www.regmedinvestors.com/articles/12581
Ebb and flow –
Q3/22 – August – 11 positive and 9 negative closes
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
Beam Therapeutics (BEAM) closed down -$5.89 to $56.26 after Thursday’s +$2.31, Wednesday’s +$5.60, Tuesday’s +$2.83 and last Monday’s -$1.88), with a negative -$1.27 or -2.26% preopen indication,
CRISPR Therapeutics (CRSP) closed down -$5.07 to $67.37 after Thursday’s +$0.47, Wednesday’s +$3.27, Tuesday’s +$2.35 and Monday’s -$2.25 with a negative -$0.76 or -1.13% pre-open indication,
Intellia Therapeutics (NTLA) closed down -$4.75 to $58.75 after Thursday’s +$1.12, Wednesday’s +$1.82, Tuesday’s +$6.31 and last Monday’s -$2.05 with a negative -$1.75 or -2.98% pre-open indication,
uniQure NV (QURE) closed down -$0.98 to $19.84 with a negative -$0.60 or -3.02% pre-open indication,
BioLife Solutions (BLFS) closed up +$1.21 to $23.09 after Thursday’s +$0.94 with a positive +$1.15 or +4.98% pre-open indication,
Voyager Therapeutics (VYGR) closed down -$0.31 to $6.05 after Thursday’s +$0.22 with a positive +$0.11 or +1.82% pre-open indication,
Ultragenyx (RARE) closed down -$1.96 to $49.50 with a Positive +$2.47 or +4.99% pre-open indication,
Puff/Pump and Promote: Maintaining SELL
Biostage (OTCQB: BSTG) closed up =$0.15 to $6.95 after Thursday’s -$0.40 (was -$2.20) trading 7,913 shares <3-month average = 1,343>, Wednesday’s +$2.20 to $7.20 with 13,882 shares traded, Tuesday’s +$0.45 with 1,249 shares traded and last Monday’s flat following the previous Friday’s $0.00 with 37 shares traded,
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?
· New CFO, number #7 for the chute?
· 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!
How many companies are LOSING the investment high ground?
TOO MANY …!!!
Sector’s fundamentals have NOT improved since the beginning of the year – they roll up, down and round.
Short and near-term factors should be directing investors’ portfolios in this economic environment
Also, investors can’t afford the outsized valuation price targets by I-Banks research and believe that CEOs are “accomplices” to over-estimating expectation and guidance in regard to valuation
January lows are being standardized by AUGUST lows, the sector’s technical indicators have become <in many cases> awful that investors have HELD positions hoping for clinical results before or about to throw in the towel – think Avrobio (AVRO) and Applied Genetic Technologies (AGTC).
The only thing investors will be able to hang have their hat on at that point is HOPE – which is not a technical or fundamental indicator. Keep your eyes on historical pricings that, haven’t responded to I-Bank research price targets.
In this time, a focus on valuation is evidence of submission, the surrender that accompanies end-of-an investment misery.
I’d say … focus on what percentage ownership of stock … NOT options CEOs and management teams own versus their salary and bonus with “perks” not only on what the out-of-reality valuation, as investors are beginning to paying RAPT attention.
As I have written, “I devote a lot of time to the direction of the sector to reckon the geography of my coverage group.”
As I continually question, “As I have further questioned, “The real question that should be asked is how many companies are at the end of sentiments leash? Start by looking at cell and gene therapy companies trading below cash!”
The cell and gene therapy sector is STILL experiencing the “flight of Icarus” … since “our” universe have oscillated between gains and losses since the first of the year!
There are really three camps, electronic algorithms, traders versus investors who STILL don’t comprehend if the worst is behind us and those “entities” that continue to focus on tailwinds and not headwinds?
With the cell and gene therapy sector shows more signs of drama of upside movement alternating to continued weakness, investors should be playing more defense with existing positions.
That doesn't mean you should flee entirely to cash, but investors make sure gains don't evaporate thus … be quick to drop losing positions.
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.