October 10, 2022 7:55am
What’s discoverable on Columbus Day, the bond market is closed
Indications: 4 Negative Indications, 2 Positive Indications, 2 BUYs on any dip, with 1 Pump/Promote (BSTG – the usual suspect)
No tunnel vision here, this analyst/journalist gets into the weeds of daily share pricing and root causes
Why do I keep writing this blog/newsletter to inform investors, what they need to hear that others won’t say or write!
8:00 a.m. 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 -0.10% or (-28 points), S&P futures are DOWN -0.16% or (-8 points) and NASDAQ futures are DOWN -0.28% or (-31 points) early in the pre-open – so far,
Stock futures were lower and falling on Monday morning,
European markets were lower,
Asia Pacific markets dropped as Chinese chip stocks listed in the city plunged following new export rules from the U.S. (new curbs on high-end tech)
Henry’omics:
Monday is Columbus Day and the bond market will be closed.
U.S. stocks tumbled on Friday after the government's monthly employment report, which showed labor conditions remained tight in September, despite a slowdown in hiring. As a sell-off accelerated in the final hour of the Friday session.
Friday’s losses trimmed the gains for what started out as a big comeback week for stocks. The major averages are still on pace to end the week higher but have given back most of the gains from the rally that kicked off the week.
Economic Data Docket: The Consumer Price Index (CPI) on Thursday tops the INTEREST OF THE WEEK with Q3 financials from the country’s largest banks – JPMorgan (JPM), Citi (C), and Wells Fargo (WFC) – following suit in the line of importance.
- And possible dictate how much more aggressive the Fed will get with its interest rate hiking plans, which are already the most combative in decades.
The Caixin services purchasing managers’ index In China came in at 49.3 in September, according to a report published Saturday, a steep drop from 55 in August.
RegMed Investors’ (RMi) closing bell: “negative reaction. There are clear winners and losers since the start of October.” … https://www.regmedinvestors.com/articles/12640
Ebb and flow:
Q4 – 3 positive and 2 negative closes
Q3/22 –
· September – 1 holiday, 10 positive and 11 negative closes
· August – 1 neutral, 11 positive and 11 negative closes
· July - 1 holiday, 10 negative and 10 positive closes
Companies in my headlights – It’s your decision; I provide ideas and context: INDICATIONS
Negative Indications:
bluebird bio (BLUE) closed down -$0.62 to $6.92 with a negative -$0.22 or -3.18% pre-open indication,
Beam Therapeutics (BEAM) closed down -$2.84 to $33.50 after Thursday’s +$0.39, Wednesday’s -$0.65, Tuesday’s +$3.71 and last Monday’s +$0.25 with a negative -$0.51 or -1.07% pre-open indication,
Chinook Therapeutics (KDNY) closed down -$0.47 to $19.41 with a negative -$0.97 or -5% pre-open indication,
CRISPR Therapeutics (CRSP) closed down -$3.61 to $61.65 with a negative -0.10 or -0.16% pre-open indication,
Positive:
Sage Therapeutics (SAGE) closed down -$3.04 to $39.62 after Thursday’s +$1.29, Wednesday’s +$0.14, Tuesday’s +$1.64 and last Monday’s +$0.43 with a positive +$1.53 or +3.86% pre-open indication
Maintaining BUY of Dips:
Agenus (AGEN) closed down -$0.12 to $2.68 after Thursday’s +$0.43, Wednesday’s +$0.16, Tuesday’s +$0.12, Monday’s +$0.04 and last Friday’s -$0.01 with a negative -$0.01 or -0.37% pre-open indication,
Solid Biosciences (SLDB) closed down -$0.003 to $0.48 after Thursday’s -$0.0041, Wednesday’s -$0.022, Tuesday’s +$0.015 and last Monday’s +$0.0284 with a negative -$0.02 or +5% pre-open indication after merger/acquisition of AvantiBio and a $75 million Bain financing
Puff/Pump and Promote: Maintaining SELL
Biostage (OTCQB: BSTG) closed up +$0.15 with 10.467 shares traded after Thursday’s $0.15 with 4,500 shares traded after Wednesday’s -$0.45 with 2,705 shares traded, Tuesday’s -$0.39 with 2,300 shares traded, Monday’s -$0.71 with 2,700 shares traded, Friday’s +$0.10 with 2,300 shares traded and last Thursday closed FLAT with 2,900 shares traded <3-month average = 2,165 shares>,
Questions need to be answered and they NEVER are for shareholders; as the First Amendment of the U.S. Constitution does guarantee the “freedom of speech, or of the press” … but I guess NOT to respond?
- Who, WHAT and WHERE are pumping and promoting the “spikes” in volume and share price … coming from?
- What is DST Capital? Is DST Capital really managed by Mrs. bin Zhao of Weston, Mass and Hong Yu, president of BSTG? Is LIU Dong-hai chairman of D. Phone, one of the largest smartphone retailers in China and Dixintong Technology group; the ultimate funder of DST Capital?
- Are Chinese communist bureaucrats from Beijing, China directing the company’s activities with BSTG being their corporate “concubine”?
The BOTTOM LINE: Reiterating, “I try to keep it simple … and short as I love my coverage list – yet, the truth will set investors free from electronic and algorithm control”!
I believe the sector is showing mixed signals, some BUYs more SELLs – yet I also believe we should review the new bottoming of Agenus (AGEN) and Solid Biosciences (SLDB) while DISPOSING of Avrobio (AVRO) who just experiences a de-listing Notice while the management DID NOTHING to AVOID this dilemma!
- Will AVRO have to commission" of a stock reverse to address delisting?
“There is STILL many a concern of sentiment and conviction in the cell and gene therapy sector”.
I STILL believe the sector is headed into “correction” which means that investors should remain cautious.
THYE Nasdaq IS back near bear market lows and Investors need to be extremely cautious and don't take their cue from Treasury yields – the bond market is closed today.
If you have gains, you might want to lock-in profit if any …!
The final Q4 is HERE … and then back to earnings season which could be a minefield!
As I continually write, “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!”
When it comes time to invest or even hold onto an investment; I’d say … focus on what percentage ownership of stock … NOT options CEOs and management teams own versus their salary and bonus.
As I have written, “I devote a lot of time to the direction of the sector to reckon the geography of my coverage group.” That doesn't mean you should flee entirely to cash, but investors make sure gains don't evaporate thus … be quick to IDENTIFY the coming “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.
