October 12, 2022 8:44am
Wholesale prices rose 0.4% in September, a warm-up for Thursday's consumer price index (CPI)
News: Sangamo Therapeutics (SGMO +$0.20 pre-open) announced updated preliminary results from the P1/2 STAAR clinical study evaluating isaralgagene civaparvovec, or ST-920, a wholly owned gene therapy product candidate for the treatment of Fabry disease. The nine patients in the dose escalation phase exhibited elevated alpha-galactosidase A (α-Gal A) activity, sustained for up to 23 months for the patient with the longest follow-up.
Indications: 1 Negative Indications, 3 Positive Indications with 1 Pump/Promote (BSTG – the usual suspect)
My interpretation of the morning’s numbers is written to be informative; it’s built on what happened or will happen behind the headline today, not tomorrow or yesterday.
Why do I keep writing this blog/newsletter to inform investors, what they need to hear that others won’t say or write!
8:45 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 UP +0.18% or (+52 points), S&P futures are UP +0.28% or +10 points) and NASDAQ futures are UP +0.33% or (+35 points) early in the pre-open – so far,
Stock futures rose Wednesday,
European markets fluctuated,
Asia-Pacific markets were mixed as all wait for CPI report.
Henry’omics:
Indexes rose on Tuesday, reversing earlier declines, as investors, hedge funds and electronic traders looked ahead to key inflation data and earnings out later in the week that will give the Fed updated information on the state of the U.S. economy.
The Dow closed UP +36.31 points (+0.12%), the S&P closed DOWN -23.55 points (-0.65%) while the Nasdaq closed DOWN -115.91 points (-1.10%
Economic Data Docket: the producer price report - a measure of prices that U.S. businesses get for the goods and services they produce, increased 0.4% for the month, compared to the Dow Jones estimate for a 0.2% gain. On a 12-month basis, PPI rose 8.5%, which was a slight deceleration from the 8.7% in August.
RegMed Investors’ (RMi) closing bell: “an oversold bounce from nowhere to close neutral in my coverage group. After a tough morning session started with 31 of 35 down while the upside is welcomed with 31 jumping positive at approximately 12:30 p.m.; closing neutral.” … https://www.regmedinvestors.com/articles/12645
Ebb and flow:
Q4 – 1 neutral, 3 positive and 3 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:
Intellia Therapeutics (NTLA) closed down -$0.83 to $53.48 after Tuesday’s-$1.71, Friday’s -$6.67, Thursday’s +$1.77 and last Wednesday’s +$0.04 with a positive +$1.19 or +2.23% pre-open indication,
Positive Indications:
Verve Therapeutics (VERV) closed down -$0.08 to $31.81 with a positive +1.58 or +4.97% pre-open indication,
Beam Therapeutics (BEAM) closed down -$0.10 to $46.57 after Tuesday’s -$1.08, Friday’s -$2.84, Thursday’s +$0.39, and last Wednesday’s -$0.65 with a positive +$2.00 or +4.29% pre-open indication,
Sangamo Therapeutics (SGMO) closed up +$0.04 to $4.75 with a positive +$0.20 or +4.21% pre-open indication of news of a P1/2 STAAR clinical study evaluating isaralgagene civaparvovec, or ST-920, a wholly owned gene therapy product candidate for the treatment of Fabry disease.
Puff/Pump and Promote: Maintaining SELL
Biostage (OTCQB: BSTG) closed up +$0.10 with 5,591 shares traded after Tuesday’s -$0.10 with 2,689 shares traded, Friday’s +$0.15 with 10.467 shares traded, Thursday’s $0.15 with 4,500 shares traded, and last Wednesday’s -$0.45 with 2,705 shares traded <3-month average = 2,207 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: “Venimus nos emit et vendidit nos rursus” – “We have bought and sold again". That's why today's a good day for all who owned cell and gene therapy equities to reassess?
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”!
The sector is what it is, until it isn’t and even then, it doesn’t seem to be…
The RegMed sector suffers the tourist routine … most traders hear a piece of news, contemplate a pumping to buy and a dumping to sell. These same buyers/sellers can also be very fickle as their purchasing habits are often based on emotion, not sound investment strategies.
In “our’ universe of cell and gene therapy, we are betting on the hope for a cure or a treatment but, we are dependent on the management team to represent our hopes and aspirations.
Reiterating, “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!
Amid the ongoing cell and gene therapy sector volatility, “our” universe’s trend remains " in correction." That means that investors are safer on the sidelines.
WHY can’t Applied Genetic Technologies get out from under the “boulder” of share pricing compression – ask Sue Washer, CEO … she has NEVER had the right answers for the past two (2) years, time for a management change as AGTC trades at $0.25 while she pockets almost $800 K a year!!
“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.
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.
