January 23, 2023 4:51pm
There were a number of cell/gene therapy companies “popping” in today’s session – I’d be waiting UNTIL earnings (Q4) are reported – it’s coming to BUY and STAY invested, NOW take profits when can; algorithms are driving shares pricing
Pre-Open Indication: 7 Hits and 0 Miss
News: Regenxbio (RGNX -$0.34) – a trial commencement and Agenus (AGEN - $0.14) – clinical data were not GOOD news for these equities while taking on DEBT helped Cellectis SA (CLLS) – I say BAD news
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 UP +254.07 points (+0.76%), the S&P closed UP +47.20 points (+1.19%) while the Nasdaq closed UP +223.98 points (+2.01%)
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 rose Monday as investors brace for the Fed rate hike “numbers” and another week of earnings.
As of trading close, the Nasdaq is up 8% in 2023, amid optimism for a soft landing and the Federal Reserve winding down rate hikes. <IBD>
Economic Data Docket: The Index of Leading Economic Indicators fell 1% month over month in December. The Econoday consensus was a drop of 0.7%.
Friday’s … RegMed Investor’s (RMi) Pre-Open: “fear, the under-rated indicator or metric. This is why the market/sector is struggling for direction.” … https://www.regmedinvestors.com/articles/12794
Pre-Open Indications: 7 hits <Beam Therapeutics (BEAM -$0.15), Verve Therapeutics (VYGR +$1.01), Chinook Therapeutics (KDNY -$0.19), CRISPR Therapeutics (CRSP +$1.71), Ionis Pharmaceuticals (IONS -$1.34), BioLife Solutions (BLFS +$0.73), Ultragenyx (RARE +$0.41)> and 0 Miss
RegMed/Stem/Cell and Gene Therapy’s 35 covered equities’ Advance/Decline (A/D) lines: what happened – quite a difference
- Monday’s advance/decline line opened negative at 14 up/ 21 down and 1 flat, flipped positive with 19 up/ 16 down and 0 flat at the mid-day, ending with a positive close of 24/9 and 2 flats
The iShares NASDAQ Biotechnology (IBB) and the SPDR S&P ETF (XBI) indicators:
- Monday, the IBB was up +0.97% and the XBI was up +0.20%
The CBOE Volatility Index (VVIX: INDEX) tracked:
- Monday was down -0.07 points or -0.35% at 19.78
Closing Down (9 of 9):
- Ionis Pharmaceuticals (IONS -$1.34),
- uniQure NV (QURE -$0.77 after Friday’s +$0.64),
- Regenxbio (RGNX -$0.33),
- Chinook Therapeutics (KDNY -$0.19 after Friday’s +$0.79),
- Beam Therapeutics (BEAM -$0.15 after Friday’s +$2.13),
- Agenus (AGEN -$0.15 after Friday’s -$0.07),
- Adverum Biotechnologies (ADVM -$0.03)
- Brainstorm Cell Therapeutics (BCLI -$0.02),
- bluebird bio (BLUE -$0.01),
Closing Up (10 of 24):
- Intellia Therapeutics (NTLA +$2.03 after Friday’s +$0.55),
- CRISPR Therapeutics (CRSP +$1.71 after Friday’s +$1.94),
- Verve Therapeutics (VERV +$1.01 after Friday’s +$0.77),
- Alnylam Pharmaceuticals (ALNY +$0.94 after Friday’s +$1.09),
- BioLife Solutions (BLFS +$0.73 after Friday’s +$0.57),
- AxoGen (AXGN +$0.45),
- Ultragenyx (RARE +$0.41 after Thursday’s -$1.12, Wednesday’s +$0.12 and Tuesday’s -$1.05),
- Cellectis SA (CLLS +$0.32),
- Prime Medicine (PRME +$0.25),
- Bellicum Pharmaceuticals (BLCM +$0.19),
- Precigen (PGEN +$0.18),
Q1/23 – January
- Monday closed positive with 24 incliner, 9 decliners and 2 flats
The BOTTOM LINE: I try to keep it simple … and short!
I am definitely considered a contrarian depending on the session – one has to be a watcher of the ups and downs as well as measurer of sentiment. I am also a NO trust but, a validate journalist/analyst.
It’s just like counting the cards – something I WAS good at.
Upcoming Q4 earnings reporting will present challenges to share pricing.
Investors are awaiting January manufacturing and Q4 GDP data during the week!
There are VERY clear losers today … Ionis Pharmaceuticals (IONS), uniQure NV (QURE) and Regenxbio (RGNX)
With winners … Alnylam Pharmaceuticals (ALNY) - again, Intellia therapeutics (NTLA) and CRISPR Therapeutics (CRSP)
Avrobio (AVRO closed up +$0.03 with 168,831 shares traded after Friday’s -$0.001 with 234,968 shares traded, Thursday’s +$0.04 with 303,682 share traded, Wednesday’s -$0.0402 with 212,461 shares traded, Tuesday’s -$0.0098 to $0.89 with 273,903 shares traded and last Monday’s holiday. <3-month average = 340,114 shares>
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 +$0.03 with 713 shares traded (having been down most of the session) after Friday’s flat with 30 shares traded, Thursday’s $0.00 with 32 shares traded, Wednesday’s -$0.07 with 421 shares traded, Tuesday’s up +$0.60 with 3,047 shares traded and last Monday’s holiday <3-month average volume =1,309 shares>
· Review the trading pricing and volume versus the pump/promote agenda – somethings “wrong in Denmark” that’s Beijing, China for you – not following SEC 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 from the past problems are STILL in charge!
· Question; is this a Ponzi scheme as shares are bought to replace those sold??
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.