November 21, 2022 7:58am
Thanksgiving week isn't necessarily a great time for any market move; volume will also be light throughout the short and holiday interrupted week.
Indications: 1 Maintaining SELL, 1 Maintaining Sell into Strength, 1 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 write 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 about - 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 -0.19% or (-64 points), S&P futures are DOWN -0.52% or (-20 points) and NASDAQ futures are DOWN 0.81% or (-94 points) early in the pre-open – so far,
Futures were down on this Monday of Thanksgiving holiday week,
European markets slightly lower,
Asia-Pacific markets mostly fell amid growing Covid concerns in China.
We need to understand the macro to comprehend the micro re “our” universe of cell and gene therapy companies …
Friday,” Indexes flipped in the daily session closing positive … after wavering over the flat line for much of the day” after a tumultuous week.
The Dow closed UP +199.37 points (+0.59%), the S&P closed UP +18.78 points (+0.48%) while the Nasdaq closed UP +1.11 points (+0.01%).
All three indexes are down two of the past three weeks.
Economic Data Docket: reports will be released on Wednesday - the University of Michigan’s final consumer sentiment index for November, initial jobless claims, durable goods data and new home sales for October and the minutes from the Fed’s Nov. 1-2 policy meeting.
Friday’s (11/18) … RegMed Investors’ (RMi) closing bell: “this week the cell and gene therapy sector equities got “whacked’ on the knuckles, today it got a pat on the back! Who is feeding your portfolio profits - electronic trading and algorithms; unfortunately, investors crave more certainty” … https://www.regmedinvestors.com/articles/12708
Ebb and flow:
Q4 – November - 9 negative and 6 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 up +$0.0045 to $0.79 on Friday after Thursday’s +$0.04, Wednesday’s +$0.0016 to $0.74, Tuesday’s -$0.0218 and last Monday’s -$0.03 with a negative -$0.04 or -4.71% pre-open indication. Still delisted on its 59th (Friday) session but, has registered with a $250 million debt, stock, preferred, warrant etc. offering by Cowen … https://investors.avrobio.com/node/9116/html
Solid Biosciences (SLDB) closed up +$0.21 to $6.86 with a negative -$0.36 or -5.25% pre-open indication.
Maintaining Sell into Strength:
Prime Medicine (PRME) closed down -0.40 to $19.40 after Thursday’s +$1.58, Wednesday’s -$1.98 with a negative -$0.80 or -4.12% pre-open indication,
Regenxbio (RGNX) closed up +$0.38 to $21.71 with a positive +$0.52 or +2.40% pre-open indication.
Puff/Pump and Promote: Maintaining SELL
Biostage (OTCQB: BSTG) closed down -$0.37 to $6.13 with 802 shares traded after Thursday’s +$0.35 with 2,947 shares traded, Wednesday’s -$0.15 with 228 shares traded, Tuesday’s -$0.60 with 2,231 shares traded and last Monday’s +$0.71 with 239 shares traded <3-month average = 2,484 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: It’s Thanksgiving Week – supposedly a week to say “thanks”.
But, to WHOM?
Amid the ongoing cell and gene therapy sector volatility, “our” universe’s trend remains " in a constant correction." That means that … lately we are investors are safer on the sidelines.
Thanks …to CEO Sue Washer and president (currently) of Applied Genetic Technologies (AGTC) for her “mistakes in management and judgement” during her tenure (let’s NOT forget her “bored” of directors) – who let her get away with such “mis-judgements” to have to sell-out the company for pennies as she executes her “exit package” of $1.5+ million having been paid $1.5 million to “wreck” the company this year.
NO thank you here!
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.