August 29, 2022 4:43pm
From this a.m.’s post, Applied Genetic Technologies (AGTC) 8-K on CEO Sue Washer’s bonus of $185,055.00 <salary of $575,00.00>. The stock closed -$0.00 to $0.42 with 866,956 shares traded which defines dissatisfaction – KEEP selling, more shareholders need to STEP-UP to NOTICE this board of directors (BOD) and show non-support of this CEO!
The Biostage (BSTG) Chronicles: they’re back TRYING to reverse their PUMPING the volume and pricing but, today got hammered <-$1.75 with 17,027 shares traded <opened -$0.70 with 2,145 shares traded> after Friday’s +$0.15 with 300 shares traded, Thursday’s -$0.40 with 7,900 shares traded, Wednesday’s +$2.20 (+44% - out of nowhere) with 13,900 shares traded, Tuesday’s +$0.45 with 1,200 shares traded and last Monday’s flat with 0 shares traded. Is Mrs. Bin Zhou of Weston, Mass., head of DST (BSTG’s funder) getting DESPARATE as a BIG stock reverse begins execution?
Pre-open indications: 4 HITs and 4 MISS
WHY and HOW is this market affecting the cell and gene therapy sector … “The Bottom Line”
If I have learned one thing as a former research analyst, venture and public fund investor now a journalist; it is that your life and your bank account are largely tied to your knowledge of price movements and questioning pricing targets.
The Dow closed DOWN -184.41 points (-0.57%); the S&P closed DOWN -27.05 points (-0.67%) while the Nasdaq closed DOWN -124.04 points (-1.02%)
Indexes slipped on Monday but bounced back from their earlier losses; yet, still down.
Monday’s moves came after Wall Street suffered a sharp sell-off on Friday, when Fed Chair Powell’s short and blunt remarks in Jackson Hole, Wyoming, appeared to extinguish hopes of the central bank changing its aggressive course of rate hikes in the months ahead. <CNBC>
Economic Data Docket: August’s nonfarm payrolls report on Friday
RegMed Investor’s (RMi) Pre-Open: “Ripping-off shareholders as share pricing declines, inclines and degenerates.” … https://www.regmedinvestors.com/articles/12582
RegMed/Stem/Cell and Gene Therapy’s 35 covered equities’ Advance/Decline (A/D) lines: what happened …
- Monday’s advance/decline line opened negative at 16 up/ 18 down and 0 flat, stayed negative with 14 up/21 down at the mid-day, ending with a negative close of 7/27 and 1 flat.
Pre-open Indications: 4 HITs <Biostage (BSTG -$1.34 with 15,054 shares traded), Beam Therapeutics (BEAM -$1.22), CRISPR Therapeutics (CRSP -$1.60), uniQure NV (QURE -$0.26)> 4 MISS < BioLife Solutions (BLFS -$0.12), Voyager Therapeutics (VYGR -$0.28), Ultragenyx (RARE -$0.39), Intellia Therapeutics (NTLA +$0.31)>
Key Metrics: low volume pervades …
- Monday - Sector volume was NADA with 0 of the 7-upside having higher than the 3-month average volume with LOW volume of 2 of 28-downside having higher than the 3-month average volume;
The iShares NASDAQ Biotechnology (IBB) and the SPDR S&P ETF (XBI) indicators:
- Monday, the IBB was down -0.69% and the XBI was down -1.22%
The CBOE Volatility Index (VVIX: INDEX) tracked:
- Monday was up +0.41 points or +1.60% at 25.97
Jumping with share pricing momentum (7 of 7):
- Sage Therapeutics (SAGE +$0.37 after Friday’s -$1.79),
- Global Blood Therapeutics (GBT +$0.34),
- Chinook Therapeutics (KDNY +$0.33),
- Intellia Therapeutics (NTLA +$0.31 after Friday’s -$4.75),
- Cellectis SA (CLLS +$0.19),
- Editas Medicine (EDIT +$0.05),
- Bellicum Pharmaceuticals (BLCM +$0.01),
- Applied Genetic Technologies (AGTC)
Closing down (10 of 28):
- Alnylam Pharmaceuticals (ALNY -$1.91 after Friday’s -$2.98),
- CRISPR Therapeutics (CRSP -$1.60 after Friday’s -$5.07),
- Biostage (BSTG -$1.34 after Friday’s +$0.15),
- Verve Therapeutics (VERE -$1.25 after Friday’s -$2.09),
- Vericel (VCEL -$0.73 after Friday’s -$2.09),
- Regenxbio (RGNX -$0.71 after Friday’s -$2.68),
- Fate Therapeutics (FATE -$0.59 after Friday’s -$3.34),
- Ultragenyx (RARE -$9.39 after Friday’s -$1.96),
- Ionis Pharmaceuticals (IONS -$0.35),
- AxoGen (AXGN -$0.33),
- Monday closed negative with 7 incliner, 27 decliners and 1 flat
The BOTTOM LINE: I try to keep it simple … and short!
Cell and gene therapy stocks sank lower to start the week, extending a sell-off that began Friday.
The most significant risk to stocks is weakness in earnings. As a result, equity investors should be laser focused on this risk.
The earnings season is nearing an end; Applied Genetic Technologies (AGTC) has NOT released. The tale end as it ends its fiscal year after a lousy offering and an award of $185 bonus to its CEO after a depreciating share pricing year and it wasn’t the first, second or even third year!
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 real question is how recently have CEOs bought-into their depreciated share pricing such as three: AVRO, SLDB and AGTC and let’s NOT forget BCLI who is all but, OUT of CASH.
As I have “noticed” yet again from to date reporting, “Most reporting sector companies … to date have reported net losses, lagging revenue estimates … although AXGN, FATE, RGNX, FIXX and NTLA beat on revenues generating forward motion while ATM use is up.”
I find it very interesting to evaluate share price over earnings and a shortage of revenue reporting as a proxy for share pricing performance?
I stick to my view of anticipating the risks – as my careers focus has been “warning analysis”.
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.
Whether information or intelligence is good, bad or somewhere in between; I put into context what is relevant and useful for investors. All investments are subject to risks. Investors should consider investment objectives.
Henry McCusker, the editor and publisher of RegMed Investors does not hold or have positions in securities referred to in this publication.
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.