December 20, 2022 5:31pm
Many stocks experienced an upside progression today as I believe, “uncle” algorithms pumped the oversold to push to the upside.
I would be more than worried by … about the upcoming quarter earnings season.
Pre-open Indications: 2 Hits and 1 Miss
Why do I keep writing this blog/newsletter; to educate and inform investors, what others won’t say or write
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 +92.20 points (+0.28%), the S&P closed UP +3.96 points (+0.10%) while the Nasdaq closed UP +1.08 points (+0.01%)
We need to understand the macro to comprehend the micro re “our” universe of cell and gene therapy companies …
Indexes rose Tuesday as markets shook off a surprise move from the Bank of Japan that sent global bond yields up.
- The Bank of Japan moved to widen its cap on the 10-year Japanese government bond yield, catching traders around the world off guard and sending stock futures down.
Month to date, Dow is down 5.03%, the S&P 500 has shed 6.34% and the Nasdaq has lost 8.03%.
Tuesday’s … RegMed Investor’s (RMi) Pre-Open: “time to cut further back on already reduced risk exposure. Bottoms have yet to be defined, after another weak aftermarket narrows the drift of appreciation unless the algos “rule.” … https://www.regmedinvestors.com/articles/12751
Pre-open Indications: 2 Hit < BioLife Solutions (BLFS +$0.80), Verve Therapeutics (VERV +$0.54)> 1 MISS < Voyager Therapeutics (VYGR +$0.12)>
RegMed/Stem/Cell and Gene Therapy’s 35 covered equities’ Advance/Decline (A/D) lines: what happened – quite a difference
- Tuesday’s advance/decline line opened positive at 25 up/ 9 down and 1 flat, stayed positive with 23 up/11 down and 1 flat at the mid-day, ending with a positive close of 25/7 and 3 flats.
- Monday’s advance/decline line opened negative at 3 up/ 30 down and 2 flats, stayed negative with 0 up/34 down and 1 flat at the mid-day, ending with a negative close of 4/30 and 1 flat.
The iShares NASDAQ Biotechnology (IBB) and the SPDR S&P ETF (XBI) indicators:
- Tuesday, the IBB was up +1.16% and the XBI was up +1.87%
- Monday, the IBB was down -1.83% and the XBI was down -2.05%
The CBOE Volatility Index (VVIX: INDEX) tracked:
- Tuesday was down -0.94 points or -4.19% at 21.48
- Monday was down -0.30 points or -1.33% at 22.32
Closing Down (7 of 7):
- Caribou Biosciences (CRBU -$0.14),
- Fate Therapeutics (FATE -$0.12),
- Mesoblast (MESO -$0.07 after Monday’s +$0.02),
- Adverum Biotechnologies (ADVM -$0.0172),
- Editas Medicine (EDIT -$0.01 after Monday’s -$1.10),
- Solid Biosciences (SLDB -$0.01),
- Verastem (VSTM -$0.01),
Closing Up (10 of 25):
- Alnylam Pharmaceuticals (ALNY +$3.48 after Monday’s -$2.85),
- Ultragenyx (RARE +$2.20 after Monday’s -$3.93),
- Beam Therapeutics (BEAM +$1.49 after Monday’s -$2.44),
- uniQure NV (QURE +$1.08 after Monday’s -$1.16),
- Vericel (VCEL +$1.02 and Monday’s -$1.72),
- Ionis Pharmaceuticals (IONS +$0.96),
- BioLife Solutions (BLFS +$0.80 after Monday’s +$0.07),
- Regenxbio (RGNX =$0.60 after Monday’s -$1.20),
- Verve Therapeutics (VERV +$0.54 after Monday’s -$1.30),
- Sage Therapeutics (SAGE +$0.47 after Monday’s -$1.77)
Q4 – December
- Tuesday closed positive with 25 incliner, 7 decliners and 3 flats
- Monday closed negative with 4 incliner, 30 decliners and 1 flat
The BOTTOM LINE: I try to keep it simple … and short!
“Uncle “algorithms came in time to intercept the downward slide of equities – but, for how LONG.
Be prepared … just 8 trading days remain in 2022.
The cell and gene therapy sector closed higher on Tuesday after four (4) sessions of declines, but investors NEED to worry about weak holiday shopping, rising bond yields, and added pressure after the Bank of Japan's (BoJ) surprise tweak of monetary policy.
Even I have bought less this year – what after all these years do I need – nothing … yet, I bought a rower to go beside my desk – question will I use it (?) – I do like to row but I also picked another case of Cote de Rhone – placed 10 feet away. But I have forgotten that critical holiday gift for the bride – expensive jewelry – works every time!
The biggest issue for the New Year is the cloud of recession overhanging the economy, market volatility that affects and effects our universe of cell and gene therapy sector equities
Avrobio (AVRO closed barely up again +$0.0187 with753,795 shares trade – question is Cowen buying to protect their coming offering (?) on Monday -$0.0081 post Friday’s -$0.0291, Thursday’s -$0.0028, Wednesday’s -$0.0049, Tuesday’s +$0.01 and Monday’s flat $0.00 (says a lot of addressing the delisting issue) having 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
· Also, RA Capital has sold its position in the company – a sign of dissatisfaction!
· While, President, CEO and director Geoff Mackay carries home a HUGE salary of $754.39 K per year?
Biostage (OTCQB: BSTG) closed again flat $0.00 on Tuesday with 34 shares traded after Monday’s flat to $5.82 with 8,115 shares traded, Friday’s -$0.80 to $5.85 with 8,115 shares trade, Thursday’s $0.00 with only 100 shares traded, Wednesday’s $0.00 with1,100 shares traded following last Tuesday’s $6.90 with NO shares traded after the previous Monday’s $6.90 with 400 shares traded?
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.