November 30, 2022 5:51pm

News, Financing: Intellia Therapeutics (NTLA) has commenced an underwritten public offering of $250 million of shares of its common stock. NTLA closed up +$3.46 or 7.21% at $51.46 with an aftermarket pricing of -$2.72 or -5.29%.

No tunnel vision here, this analyst/journalist gets into the weeds of daily share pricing and root causes.

Pre-open Indications: 1 Hit and 2 Miss

Why do I keep writing this blog/newsletter; to inform investors, what others won’t say or write

Your portfolio should be profiting from RMi’s analysis; subscription is coming, it’s not conscription but, an offer to join our collective of like-minded investors! 

 

If I have learned one thing as a former research analyst in a venture and public fund 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 UP +737.24 points (+2.18%), the S&P close UP +122.48 points (+3.09%) while the Nasdaq closed UP +484.22 points (+4.41%)

 

Henry’omics:

We need to understand the macro to comprehend the micro re “our” universe of cell and gene therapy companies …

Indexes experienced gains Wednesday after Fed Chair Powell confirmed that the central bank will … slow the pace of its aggressive rate-hiking campaign that has weighed on markets.

“Powell’s comments bolstered growing optimism among some investors that the Fed will deliver a smaller, half percentage point rate hike at its next meeting on Dec. 14 after four straight increases of three quarters of a point to tame high inflation.” <CNBC>

On Thursday, investors will get the October PCE price index at 8:30 a.m., with the November jobs report due Friday morning.

Economic Data Docket: U.S. private payrolls increased far less than expected in November, suggesting demand for labor was cooling amid high interest rates.

  • Companies added just 127,000 positions for the month, a notable drop from the 239,000 the firm reported for October and the smallest gain since January. That came in below the Dow Jones estimate of 190,000 for the month.
  • The Bureau of Economic Analysis also said Wednesday that Q3  GDP increased at a 2.9% annual rate, according to its second estimate. That was revised higher from the 2.6% first estimate, showing the economy is stronger than previously expected.

 

Wednesday’s … RegMed Investor’s (RMi) Pre-Open: “forget Waiting for Godot, I’m waiting for Jerome” … https://www.regmedinvestors.com/articles/12721

 

RegMed/Stem/Cell and Gene Therapy’s 35 covered equities’ Advance/Decline (A/D) lines: what happened

  • Wednesday’s advance/decline line opened positive at 24 up/ 9 down and 2 flats, slipped neutral with 16 up/ 16 down and 2 flats at the mid-day, with a positive close of 30/4 and 1 flat.

 

Pre-open indication results: 1 Hit <bluebird bio (BLUE +$0.14)> and 2 Miss < Intellia Therapeutics (NTLA +$3.46), Ultragenyx RARE +$0.63)>  

 

Key Metrics:

The iShares NASDAQ Biotechnology (IBB) and the SPDR S&P ETF (XBI) indicators:

  • Wednesday, the IBB was up +3.22% and the XBI was up +4.55%

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Wednesday was down -1.31 points or -5.98% at 20.58

 

Closing Down (4 or 4):

  • Compass Therapeutics (CMPX -$0.14 after Tuesday’s +$0.19),
  • Prime Therapeutics (PRME-$0.14 after Tuesday’s -$0.11 and Monday’s -$3.27),
  • Bellicum Pharmaceuticals (BLCM -$0.03),
  • Adverum Biotechnologies (ADVM -$0.01),

Flat (1):

  • Biostage (OTCQB: BSTG)

Closing Up (10 of 30):

  • Alnylam Pharmaceuticals (ALNY +$15.80 after Tuesday’s -$4.41 after Monday’s -$3.52),
  • Intellia Therapeutics (NTLA +$3.46 after Tuesday’s -$0.26 and Monday’s -$1.42),
  • Beam Therapeutics (BEAM +$2.58 after Tuesday’s +$0.43 and Monday’s -$1.10),
  • Sage Therapeutics (SAGE +$2.56 after Tuesday’s +$0.56 and Monday’s +$0.13),
  • Chinook Therapeutics (KDNY +$2.39),
  • Ionis Pharmaceuticals (IONS +$2.03 after Tuesday’s -$1.57 and Monday’s -$1.23),
  • Crisper Therapeutics (CRSP +$1.91 after Tuesday’s -$0.46 and Monday’s -$1.65),
  • Vericel (VCEL +$1.62 after Tuesday’s +$0.12 and Monday’s -$0.46),
  • Verve Therapeutics (VERV +$1.49 after Tuesday’s -$0.10),
  • Regenxbio (RGNX +$1.34 after Tuesday’s -$0.13 and Monday’s -$0.08),

 

Q4 – November

  • Wednesday closed positive with 30 incliner, 4 decliners and 1 flat
  • Tuesday closed negative with 15 incliner, 17 decliners and 2 flats
  • Monday closed negative with 7 incliner, 27 decliners and 1 flat
  • Friday closed negative with 14 incliner, 21 decliners and 0 flat
  • Thursday was market holiday
  • Wednesday closed positive with 22 incliner, 12 decliners and 1 flat
  • Tuesday closed positive with 26 incliner, 7 decliners and 2 flats
  • Monday closed negative with 4 incliner, 31 decliners and 0 flats
  • Friday closed negative with 14 incliner, 19 decliners and 2 flats
  • Thursday closed negative with 9 incliner, 24 decliners and 2 flats
  • Wednesday closed negative with 5 incliner, 29 decliners and 1 flat
  • Tuesday closed positive with 21 incliner, 14 decliners and 0 flat
  • Monday closed negative with 13 incliner, 21 decliners and 1 flat
  • Friday closed positive with 29 incliner, 5 decliners and 1 flat
  • Thursday closed positive with 31 incliner, 4 decliners and 0 flat
  • Wednesday closed negative with 4 incliner, 31 decliners and 0 flat
  • Tuesday closed positive with 22 incliner, 12 decliners and 1 flat
  • Monday closed negative with 10 incliner, 24 decliners and 1 flat
  • Friday closed negative with 10 incliner, 25 decliners and 0 flat
  • Thursday closed negative with 12 incliner, 23 decliners and 0 flat
  • Wednesday closed negative with 7 incliner, 28 decliners and 0 flat
  • Tuesday closed negative with 7 incliner, 28 decliners and 0 flat
  • Monday closed positive with 26 incliner, 5 decliners and 4 flats

 

The BOTTOM LINE: I try to keep it simple … and short!

There are still reasons to be cautious about the current market. The sector got a stiff upward move to close positive at the close!

Investors should be “playing” this market, but not for all the marbles.

Just 22 trading days remain in 2022.

At any given time, not many stocks are flashing buy signals, while shakeouts and sector rotations can make holding onto positions difficult.

Avrobio (AVRO +$0.03 to $0.90) filed a S-3 for $250 million common stock, preferred stock, debt securities, warrants and unit offering within draft prospectus by Cowen as stock sinks while delisting continues? Just another “screw-job” of investors! < Read, SELL and Weep - see hyperlink below> Avrobio (AVRO) files S-3 (Registration Statement) for offering with draft prospectus by Cowen … https://investors.avrobio.com/node/9116/html

As I continually question, “The real question that should be asked is how many companies are at the end of sentiments …  leash?

 

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.