December 8, 2022 7:59am
December’s rolls, 4 negative and 1 positive close, with another weak aftermarket
Indications: 3 Positive Indication and 3 Negative Indication
News: REGENXBIO (RGNX closed down-$0.11 with NO pre-open indication) has completed dosing in the expanded Cohort 2 of the P1/2 trial of RGX-111 for the treatment of severe Mucopolysaccharidosis Type I (MPS I). The trial has now completed dosing, with eight (8) patients enrolled across two dose cohorts. As previously reported, RGX-111 has also been administered to a patient with MPS I through a single-patient IND.
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 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 UP +0.18% or (+61 points), S&P futures are UP +0.24% or +9 point) and NASDAQ futures are UP +0.23% or (+26 points) early in the pre-open – so far,
Stock futures are skittishly up on Thursday, December 8, 2022
European markets were slightly lower,
Asia Pacific markets were mixed as China indexes popped while others were lower
Henry’omics:
We need to understand the macro to comprehend the micro re “our” universe of cell and gene therapy companies …
Indexes fell in a choppy session Wednesday as traders weighed the possibility of a recession, and the likelihood of a longer-than-expected hiking cycle from the Fed.
- The Dow closed UP +1.58 points (+0.00%), the S&P close DOWN -7.34 points (-0.19%) while the Nasdaq closed DOWN -56.34 points (-0.51%)
An on-target quote,” “U.S. equity futures are trying to stabilize, and Treasuries are witnessing tiny profit taking, but the mood is still gloomy. The problem for domestic stocks is the absence of catalysts – two inflation figures come Fri (PPI and Michigan expectations), but the real fireworks arrive next week.” <Adam Crisafulli, Vital Knowledge>
Economic Data Docket: weekly jobless claims; economists are anticipating claims to come in at 230,000, up slightly from the prior week’s total of 225,000.
Tuesday’s (12/6) … RegMed Investors’ (RMi) closing bell: “time to gain that which is to get, and a time to lose; a time to keep, and a time to cast away – the Byrds who flew away.” … https://www.regmedinvestors.com/articles/12734
Ebb and flow:
Q4 – December – 4 negative and 1 positive close
· November -1 holiday, 14 negative and 8 positive closes
· October -1 neutral, 11 positive and 9 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
Positive indication:
CRISPR Therapeutics (CRSP) closed down -$0.17 to $50.61 with a positive +$0.89 or +0.77% pre-open indication,
Intellia therapeutics (NTLA)closed down -$0.93 to $38.05 with a positive +$1.11 or +2.92% pre-open indication,
Sage Therapeutics (SAGE) closed down again -$1.91 to $41.61 after Monday’s -$0.09 with a positive -$1.22 or -3% pre-open indication.
Negative Indication:
Verve Therapeutics (VERV) closed down -$0.35 to $21.07 with a positive +$1.02 or +4.75% pre-open indication,
Beam Therapeutics (BEAM) closed up +$0.92 to $44.10 after Tuesday’s -$1.19 Monday’s -$2.45, Friday’s +$0.99, Thursday’s -$0.36 and last Wednesday’s +$2.58 with a negative -$0.94 or -2.13% pre-open indication.
Chinook Therapeutics (KDNY) closed up +$0.98 to $23.54 with a negative -$0.84 or -3.47% pre-open indication,
The BOTTOM LINE: I try to keep it simple and short!
Another session to do less, it’s better to watch than act … by the way, the major indexes and Russell 2000 are essentially where they were in early November or late October.
Indecision of any moves in this sector is STILL wrapped with pessimism in a less than impressive start of December to date.
Sideways markets are among the most dangerous for investors, especially when there is volatility up and down. There's just enough strength on the upside to lure buyers in, but then the market swings lower for a time. That forces investors to either cut losses when they're small — with a good chance that stocks will rebound — or risk a much-bigger decline. <IBD>
The current choppy market rally has an added hurdle. Most of the advance has come on a handful of one-day sessions, so it's hard to have even mini-uptrends to build gains in new positions.
In the very short term until December 31, investors may want to be cautious about making new buys. The market and sector face a big technical test with inflation and jobs reports likely to play a key role in how that plays out.
I’d be calculating selling for tax purposes.
Reiterating, “While it's fine putting money to work in the current stock market, keep your exposure on the conservative side with small positions to start. Just because the stock market is in a confirmed uptrend doesn't mean you have to be 100% invested. And don't be afraid to take a 10% gain if you have it, given the choppy nature of the market.” <IBD>
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.
Reiterating, “The real question that should be asked is how many companies are at the end of sentiments … leash?
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.
