January 25, 2023 7:53am

While the window opens to public offerings

Pre-open Indications: 5 Sell into Strength, 5 Negative Indications and 1 Positive Indication

Financings: Precigen (PGEN) - $75 M – prices $75 M (42,857,143 shares) offering at $1.75

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.

The 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 DOWN -0.69% or ( -235 points), S&P futures are DOWN -0.84% or (-33 point) and NASDAQ futures are DOWN -1.26% or (-150 points) early in the pre-open – so far

Stock futures fell in early trading on Wednesday,

European markets are lower,

Asia-Pacific markets trade mixed,

 

Henry’omics:

We need to understand the macro to comprehend the micro re “our” universe of cell and gene therapy companies …

Last night, indexes were mixed as only the Dow advanced.

  • 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%)

 

Tuesday’s (1/23) … RegMed Investors’ (RMi) closing bell: “RegMed Investors’ (RMi) closing bell: inclining positive session, yet … wait and watch. 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.” … https://www.regmedinvestors.com/articles/12799

 

Ebb and flow:

Q1/23 – 2 holiday, 9 positive and 6 negative closes

Q4

·         December – 1 holiday, 13 negative and 8 positive closes

·         November -1 holiday, 14 negative and 8 positive closes

·         October -1 neutral, 11 positive and 9 negative closes

 

Companies in my headlights – It’s your decision; I provide ideas and context: INDICATIONS

SELL into Strength:

CRISPR Therapeutics (CRSP) closed up +$0.64 to $51.96 after Monday’s +$1.71 with a negative -$0.98 or -1.89% pre-open indication.

Editas Medicine (EDIT) closed up +$0.65 to $8.83 with a negative -$0.11 or -1.25% pre-open indication

Intellia Therapeutics (NTLA) closed up +$2.65 to $38.53 with a negative -$0.11 or -1.25% pre-open indication

uniQure NV (QURE) closed up +$0.41 to $21.53 with a negative -$0.43 or -2% aftermarket indication,

Ultragenyx (RARE) closed up +$0.68 to $43.49 after Monday’s +$0.41, Friday’s +$0.90, Thursday’s -$1.12 and last Wednesday’s +$0.12 with a negative -$1.14 or -2.62% aftermarket indication,

 

Positive Indications;

Ionis Pharmaceuticals (IONS) closed up +$0.65 to $40.07 after Monday’s -$1.34 and Friday’s +$0.18 with a positive +$0.85 or +2.12% aftermarket indication,

 

Negative Indications:

Beam Therapeutics (BEAM) closed up +$0.16 to $44.55 after Monday’s -$0.15, Friday’s +$2.13, Thursday’s -$2.10 and last Wednesday’s +$0.06 with a negative -0.95 or -2.13% pre-open,

BioLife Solutions (BLFS) closed down -$0.18 to $25.00 after Monday’s -$0.15 to $25.18, Friday’s +$0.57 and Thursday’s -$0.11 with a negative -$0.75 or -3%

Precigen (PGEN) closed up +$0.02 to $2.10 with a negative -$o.31 or -14.16% pre-open indication – proposed offering.

Verastem Oncology (VSTM) closed up =$0.02 to $0.61 with a negative -$0.01 or -1.66% pre-open indication – Private Placement of Preferred

Verve Therapeutics (VYGR) closed down -$0.11 to $22.49 after Monday’s +$1.01, Friday’s -$0.77 and Thursday’s -$1.31 with a negative -$0.48 or -2.13% aftermarket indication,

 

The BOTTOM LINE: I try to keep it simple and short!

I hate to be so negative or contrarian but, this is a NO spin zone and truth is its product.

And I can always be WRONG but, mostly EARLY!

Q4 earnings are still in front of the sector, the reporting signals – I believe a downtrend is coming as weak earnings will surface and less than substantial guidance will prevail.

As I have stated, “What goes up with ceremony, goes down with disdain”.

The cell/gene therapy sector’s investors need to understand the … cycle of distress will be with us until we see a better showing of platforms not, just me-too drug development of what I define as multiple companies chasing the same indication.

A couple of companies have become … black holes … of investor sentiment; yet, some get financing to continue the chain around investors’ necks until they recognize it could be forever with “some” of these equities.

I do NOT believe there aren't a lot of cell/gene therapy companies in position yet – UNTIL earnings (Q4) are reported – any breakout is a false hope with the inevitable downside re-occurring.

My interpretation of the morning’s numbers is written to be informative; it’s built on will happen behind the headlines today, not tomorrow or yesterday …

Remember, “Don't act like the market is in an uptrend until the market is actually in an uptrend”.

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.