November 16, 2022 7:58am
Market dynamics are still turned by inflation reporting, October retail sales
Indications: 1 Maintaining SELL, 2 SELL into Strength, 4 Positive Indication and 1 Pump/Promote
A daily report may say little or a lot and its final judgement may be inconclusive; yet it serves as insurance that all indications are being examined, evaluated and reported.
I don’t seek fame, do podcasts or give speeches, what I do is keep writing this blog/newsletter to inform investors with facts and supporting numbers focused on what they need to hear that others won’t say or write - truth!
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 -0.03% or (-10 points), S&P futures are DOWN -0.01% or (-.75 points) and NASDAQ futures are DOWN -0.05% or (-6 points) early in the pre-open – so far,
Stock futures are slipping and falling on Wednesday,
European markets mostly lower,
Asia-Pacific markets are also mostly lower.
We need to understand the macro to comprehend the micro re “our” universe of cell and gene therapy companies …
Tuesday night, U.S. stocks stayed up yet, trimmed some gains, after a news report indicated Russian missiles crossed into Poland, a NATO member.
The Dow closed UP 57.22 points (+0.17%), the S&P closed UP +34.48 points (+0.87%) while the Nasdaq closed UP +162.19 points (+1.45%)
Economic Data Docket: Retail sales, out today could offer another look at consumer behavior amid inflation.
· Economists expect the Commerce Department to report a 1% gain, or just 0.2% excluding autos and gas.
Tuesday’s (11/15) … RegMed Investors’ (RMi) closing bell: “cell and gene therapy sector gains held fast against PPI and Poland missile strike. Stocks are wavering as inflation cools, time to continue portfolio protection selling” … https://www.regmedinvestors.com/articles/12702
Ebb and flow:
Q4 – November - 7 negative and 5 positive closes
· October -1 neutral, 11 positive and 9 negative closes
· 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
Avrobio (AVRO) closed down -$0.0218 to $0.74 after Monday’s -$0.03 with a negative -$0.04 or -4.80% pre-open indication. Still delisted on its 56th session but, has registered with a $250 million debt, stock, preferred, warrant etc. offering by Cowen … https://investors.avrobio.com/node/9116/html
Sell Into Strength:
BioLife Solutions (BLFS) closed up +$1.38 to $24.60 after Monday’s -$1.85, Friday’s +$0.37 and Thursday’s +$7.40 with a positive +1.15 or +4.67% aftermarket indication.
CRISPR Therapeutics (CRSP) closed up +$1.23 to $61.01 after Monday’s -$0.57, Friday’s +$5.66 and Thursday’s +$5.76 with a negative -$0.90 or -1.48% pre-open indication
Intellia Therapeutics (NTLA) closed down -$0.38 to $52.92 after Monday’s -$1.65 with a positive +$0.13 or +0.25% pre-open indication.
Ultragenyx Pharmaceuticals (RARE) closed up =$0.21 to $35.46 after Monday’s -$1.30, Friday’s -1.03 and Thursday’s +$3.86 with a positive +$2.26 or +6.37% pre-open indication
Sage Therapeutics (SAGE) closed down -$0.71 to $35.25 after Monday’s +$0.35 with a positive +$2.65 or +7.52% pre-open indication
uniQure NV (QURE) closed up +$0.05 to $21.90 with a positive +$0.85 or +3.88% pre-open indication
Puff/Pump and Promote: Maintaining SELL
Biostage (OTCQB: BSTG) closed down -$0.60 with 2,231 shares traded after Monday’s +$0.71 with 239 shares traded, Friday’s $0.00 with 8 shares traded to $6.19, Thursday’s -$0.58 with 160 shares traded and last Wednesday’s -$0.01 with 314 shares traded, <3-month average = 2,446 shares>
A DRAFT prospectus is filed … SEC Form S-1/A …https://app.quotemedia.com/data/downloadFiling?webmasterId=101533&ref=117017206&type=HTML&formType=S-1%2FA&dateFiled=2022-10-27&cik=0001563665&CK=1563665&symbol=0001563665&companyName=Biostage . Questions arise as to draft prospectus statement of non-reliance of past financials? Hey, CFO Joe some of us have copies of lost “payables”?
The BOTTOM LINE: Reiterating, “I try to keep it simple … and short …
Defining the terms of my written words, “An indication can be a development of almost any kind. Specifically, it may be a confirmed fact, a possible fact, or an absence of “something”, a fragment of information or even an observation. The sole provision is that it provides insight to provide some vision into a likely course of action.”
I also tend to be …EARLY in recommendations; I learned very early (military), if you weren’t 5 minutes early for a meeting, you were 10 minutes late – be early in portfolio deliberations …
Always’ remember and do NOT forget, today’s investors’ gold is a trader’s disposable tin.
We are still in earnings season; focus is on “runways” or cash positions: who’s got it, who doesn’t, and when will cash run-out. With capital markets closed or tight, companies better be conserving.
Reiterating, “Kenny Storch at BTIG, states there are 226 public biotech companies trading below cash currently; with 1 out of 5 in the Nasdaq Biotech Index trading below cash.”
What’s SAFE … “No one company is immune in the sector and this market of rolling downdrafts?”
Guidance on investing,
“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.”
CEO salaries, spending within G&A are totally OUT-OF-WHACK; these are companies in early development stages and will be for years without products in most cases not like the tech companies, whose CEOs and management teams think sector management teams should be compared to for bi-weekly cash and “beanies”!
My guide to 'good news seems to be bad news' and 'bad news is good news. 'In normal times, no one really questions whether good news in the economy is actually good.
Amid the ongoing cell and gene therapy sector volatility, “our” universe’s trend remains " in a constant correction." That means that investors are safer on the sidelines as again … earnings are coming.
If you have gains, you might want to lock-in profit (if any) … before earnings season begins!
Insight is about understanding perception and also about putting into context what is relevant to expectation fulfillment
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.