January 17, 2023 4:56pm
As I stated this a.m., “sentiment is positioned on thin ice”
The Biostage (OTCQB: BSTG) Chronicles: the pump the share price and volume are back as OTCQB: BSTG closed up +$0.69 with 3,047 shares traded after Monday’s holiday and Friday’s flat with 0 shares traded, Thursday’s +$0.08 with 671 shares traded, Wednesday’s -$0.21 with 100 shares trade and last Tuesday with 0 shares traded, <3-month average volume =1,354 shares> Question, is this a Ponzi scheme – review the trading as shares bought replace those sold?
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! Subscription is coming, it’s not conscription but, an offer to join our collective of like-minded investors! Join me … in the NO spin zone.
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 portfolio are largely tied to your knowledge of price movements and questioning pricing targets.
The Dow closed DOWN -391.76 points (-1.14%), the S&P closed DOWN -8.12 points (-0.20%) while the Nasdaq closed UP +15.96 points (+0.14%)
We need to more than consider the recessionary environment - rising rates and high inflation to comprehend the micro re “our” universe of cell and gene therapy companies
Indexes fell Tuesday as session struggled to maintain momentum and weighed-down by the latest earnings results.
Year-to-date, the Nasdaq is up +6.01%, S&P 500 +3.95% and Dow +2.30%.
Economic Data Docket: The New York Federal Reserve's Empire State Manufacturing Survey for January showed another big contraction, with a -32.9 reading, much lower than the -8.1 estimate vs. an 11.2% decline for December.
Monday’s … RegMed Investor’s (RMi) Pre-Open: “sentiment is positioned on thin ice. Post market holiday, positive session closes as gains came on the back of inflation-related data and upcoming Q4 earnings reporting.” … https://www.regmedinvestors.com/articles/12787
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 21 up/ 13 down and 1 flat, flipped negative with 14 up/ 19 down and 2 flats at the mid-day, ending with a negative close of 14/20 and 1 flat
- Monday was a market holiday
- Friday’s advance/decline line opened positive at 25 up/ 8 down and 2 flats, stayed positive with 18 up/ 16 down and 1 flat at the mid-day, ending with a positive close of 19/14 and 2 flat
The iShares NASDAQ Biotechnology (IBB) and the SPDR S&P ETF (XBI) indicators:
- Monday, the IBB was up +0.05% and the XBI was down -1.16%
The CBOE Volatility Index (VVIX: INDEX) tracked:
- Monday was down -0.13 points or -0.67% at 19.36
Closing Down (10 of 20):
- Alnylam Pharmaceuticals (ALNY -$1.80 after Monday’s holiday and Friday’s +$5.69),
- Voyager Therapeutics (VYGR -$1.57 after Friday’s +1.49),
- Sage Therapeutics -$1.54 after Friday’s +$0.27),
- Regenxbio (RGNX -$1.08),
- Ultragenyx (RARE -$1.05 after Monday’s holiday and Friday’s +$0.36),
- bluebird bio (BLUE -$0.61 after Friday’s -$0.33),
- Intellia Therapeutics (NTLA -$0.59 after Friday’s -$0.57),
- uniQure NV (QURE -$0.55 after Monday's holiday and Friday’s +$0.82),
- Cellectis SA (CLLS -$0.46),
- AxoGen (AXGN -$0.21 after Monday’s holiday and Friday’s +$1.13),
- Caribou Biosciences (CRBU),
Closing Up (10 of 14):
- CRISPR Therapeutics (CRSP +$1.83 after Monday’s holiday and Friday’s +$0.28),
- BioLife Solutions (BLFS +$1.41),
- Beam Therapeutics (BEAM +$1.21 after Monday’s holiday and Friday’s -$0.13),
- Vericel (VCEL +$1.05 after Monday’s holiday and Friday’s -$1.13),
- Biostage (OTCQB: BASTG +$0.69),
- Solid Biosciences (SLDB +$0.40 after Monday’s holiday and Friday’s +$0.24),
- Fate Therapeutics (FATE +$0.32 after Friday’s -$0.46),
- Verve Therapeutics (VERV +$0.32 and Friday’s -$0.16),
- Chinook Therapeutics (KDNY +$0.27 after Monday's holiday and Friday’s -$0.82),
- MiMedx (MDXG +$0.11),
Q1/23 – January
- Tuesday closed negative with 14 incliner, 20 decliners and 1 flat
- Monday was a market holiday
The BOTTOM LINE: I try to keep it simple … and short!
The cell and gene therapy sector is coming off a positive spin of four (4) upside sessions.
Reiterating, what STILL makes me NERVOUS and ANXIOUS about 2023 is short-term momentum as Q4 earnings are due to be released mid-January and into February which will out share pricing into a gauntlet.
· Investors should wait for clear signs of upward or forward motion before making new buys.
· Be wary of buying stocks on the first "blip" of strength. It's still time to be cautious about any new buys.
· Buy signals and breakouts could quickly fizzle if the market falls back again.
There are VERY clear losers today … Alnylam Pharmaceuticals (ALNY), Sage Therapeutics (SAGE) and Voyager Therapeutics (VYGR)
… With winners … CRISPR Therapeutics (CRSP), BioLife solutions (BLFS) and Beam Therapeutics (BEAM)
Reiterating, “The biggest issue for the New Year will be the cloud of economic data release possibly contributing to a recession which overhanging the economy, market volatility the affects and effects of our universe of cell and gene therapy sector equities.”
Avrobio (AVRO closed down -$0.0098 to $0.89 with 273,903 shares traded after Monday’s holiday and Friday’s +$0.0251 to $0.92 with 139,678 shares traded, Thursday’s+$0.0447 with 71,210 shares traded, Wednesday’s - $0.0198 with 95,425 shares traded and last Tuesday’s +$0.02 with 170,669 shares traded.
The many sessions since acknowledging the de-listing “issue” say a lot of addressing the NASDAQ issue <is their investment bank buying the shares?> as AVRO 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 de-listing 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 up +$0.60 with 3,047 shares traded after Monday’s holiday and Friday’s flat with 0 shares traded, Thursday’s +$0.08 with 671 shares traded, Wednesday’s -$0.21 with 100 shares trade and last Tuesday with 0 shares traded, <3-month average volume =1,354 shares>
· Review the trading pricing and volume versus the pump/promote agenda – somethings “wrong in Denmark” that’s Beijing, China for you – not following USA rules!!
· This IND – now almost 4 years old without a clinical trial that will last 3-5 years for ADULT patients before BSTG can EVEN consider a pediatric venue!!
· They hired a CRO; hope they PAY them after all the difficulties the previous CRO went through and the same individuals are in charge!
My question that resounds, 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.