January 24, 2023 4:51pm
I am STILL of the opinion that the cell/gene therapy sector is “A glass half full or a value trap”. The cell/gene therapy sector churns with a bounce … three (3) positive closes after three (3) negative closes.
The Biostage Chronicles (OTCQB: BSTG) back to the pump for more volume to cease the decline in share pricing <-$0.09 with 2,375 shares traded (average 3-month volume =1,272 shares traded). Is this a company investor should finance in? – NO
News: Precigen (PGEN closed +$0.02 to $2.19 with -$0.33 aftermarket) proposes $75 M offering plus additional $11.5 M option
Pre-Open Indication: 7 Hits and 0 Miss
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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 +104.40 points (+0.31%), the S&P closed DOWN -2.86 points (-0.07%) while the Nasdaq closed DOWN -30.14 points (-0.27%)
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 were mixed as only the Dow advanced.
Tuesday’s market moves come after a solid start to the week, with all the major averages coming off of back-to-back gains.
Tuesday’s … RegMed Investor’s (RMi) Pre-Open: “a wavering sector. A glass half full or a value trap.” … https://www.regmedinvestors.com/articles/12798
Pre-Open Indications: 7 hits <Sell into Strength: Beam Therapeutics (BEAM +$0.16), BioLife Solutions (BLFS -$0.18), Verve Therapeutics (VERV -$0.11), Cellectis SA (CLLS -$0.04), CRISPR Therapeutics (CRSP +$0.64), Ultragenyx (RARE +$0.68); Positive Indication: Ionis Pharmaceuticals (IONS +$0.65)> and 0 Miss
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 26 up/ 8 down and 1 flat, stayed positive with 20 up/ 14 down and 1 flat at the mid-day, ending with a positive close of 20/13 and 0 flat.
- 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:
- Tuesday, the IBB was down -0.01% and the XBI was up +1.90%
- Monday, the IBB was up +0.97% and the XBI was up +0.20%
The CBOE Volatility Index (VVIX: INDEX) tracked:
- Tuesday was down -0.63 points or -3.18% at 19.18
- Monday was down -0.07 points or -0.35% at 19.78
Closing Down (13 of 13):
- Chinook Therapeutics (KDNY -$0.58 after Monday’s -$0.19),
- Alnylam Pharmaceuticals (ALNY -$2.48 after Monday’s +$0.94)
- Vericel (VCEL -$0.36),
- BioLife Solutions (BLFS -$0.18 after Monday’s +$0.73),
- Fate Therapeutics (FATE -$0.12),
- AxoGen (AXGN -$0.12 after Monday’s +$0.45),
- Verve Therapeutics (VERV -$0.11 after Monday’s +$1.01),
- Bellicum Pharmaceuticals (BLCM -$0.0987 after Monday’s +$0.19),
- Biostage (OTCQB: BSTG -$0.09),
- Solid Biosciences (SLDB -$0.06),
- Brainstorm Cell Therapeutics (BCLI -$0.05 after Monday’s -$0.02),
- Cellectis SA (CLLS -$0.04 after Monday’s +$0.32),
- Homology Medicine (FIXX -$0.03),
Closing Up (10 of 21):
- Intellia Therapeutics (NTLA +$2.65 after Monday’s +$2.03),
- Sage Therapeutics (SAGE +$2.38),
- Regenxbio (RGNX +$0.87 after Monday’s -$0.33),
- Ionis Pharmaceuticals (IONS +$0.65 after Monday’s -$1.34),
- Editas Medicine (EDIT +$0.65),
- CRISPR Therapeutics (CRSP +$0.64 after Monday’s +$1.71),
- uniQure NV (QURE +$0.41 after Monday’s -$0.77),
- Compass Therapeutics (CMPX +$0.40,
- bluebird bio (BLUE +$0.34 after Monday’s -$0.01),
- Voyager Therapeutics (VYGR +$0.320,
Q1/23 – January
- Tuesday closed positive with 21 incliner, 13 decliners and 0 flats
- Monday closed positive with 24 incliner, 9 decliners and 2 flats
The BOTTOM LINE: I try to keep it simple … and short!
The cell/gene therapy sector churns in a bounce … three (3) positive closes after three (3) negative closes.
What’s the bet on which side Wednesday will close …?
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 investor but, a validate first 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 … Alnylam Pharmaceuticals (ALNY) after yesterday’s positive, Chinook Therapeutics (KDNY), Vericel (VCEL)
With winners … Sage Therapeutics (SAGE), Intellia Therapeutics (NTLA) – again, and Regenxbio (RGNX)
Avrobio (AVRO closed up +$0.01 to $0.91 with 233,056 shares traded after Monday’s +$0.03 with 168,831 shares traded, 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 and last Tuesday’s -$0.0098 to $0.89 with 273,903 shares traded. <3-month average = 337,972 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 down -$0.09 with 2,275 shares traded after Monday’s +$0.03 with 713 shares traded (having been down most of the session), Friday’s flat with 30 shares traded, Thursday’s $0.00 with 32 shares traded, Wednesday’s -$0.07 with 421 shares traded and last Tuesday’s up +$0.60 with 3,047 shares traded <3-month average volume =1,272 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.