February 6, 2023 5:15pm
Or at least some appreciation that’s sustainable; the only value realization is to Sell into Strength for profit-taking depending on entry buy
Pre-open Indications: 3 Hits and 3 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 DOWN -34.99 points (-0.10%), the S&P closed DOWN -25.41 points (-0.61%) while the Nasdaq closed DOWN -119.50 points (-1%)
Henry’omics:
We need to more than consider the economic environment - rising rates and inflation to comprehend the micro re “our” universe of cell and gene therapy companies
Indexes fell Monday as investors grew increasingly cautious of rising bond yields.
“Investors were taking some profits after the stock market’s hot start to the year. The S&P 500 is up more than 7% for 2023, while the Nasdaq has advanced for the last five weeks, a streak not seen since November 2021.” <CNBC>
Pre-open Indications: 3 Hits < Sage Therapeutics (SAGE +$1.56), Alnylam Pharmaceuticals (ALNY -$9.23), Verve Therapeutics (VERV -$ 0.72)> and 3 Miss <Beam Therapeutics (BEAM -$0.54), Intellia Therapeutics (NTLA +$0.62), CRISPR Therapeutics (CRSP +$0.24)
Monday’s … RegMed Investor’s (RMi) Pre-Open: “tred cautiously. Don't be surprised to see a market pullback and the resulting sector dynamic.” … https://www.regmedinvestors.com/articles/12819
RegMed/Stem/Cell and Gene Therapy’s 35 covered equities’ Advance/Decline (A/D) lines: what happened – differences
- Monday’s advance/decline line opened neutral at 17 up/ 17 down and 1 flat, flipped negative with 1 up/ 25 down and 1 flat at the mid-day, ending with a negative close of 11/23 and 1 flat
- Friday’s advance/decline line opened negative at 9 up/ 23 down and 3 flats, flipped positive with 18 up/ 15 down and 2 flats at the mid-day, ending with a negative close of 15/19 and 1 flat
Key Metrics:
The iShares NASDAQ Biotechnology (IBB) and the SPDR S&P ETF (XBI) indicators:
- Monday, the IBB was down -0.72% and the XBI was down -0.76%
The CBOE Volatility Index (VVIX: INDEX) tracked:
- Monday was up +1.10 points or +6% at 19.43
Closing Down (10 of 23):
- Alnylam Pharmaceuticals (ALNY -$9.23 after Friday’s +$3.62),
- Prime Medicine (PRME -$0.82 after Friday’s +$1.11),
- Verve Therapeutics (VERV -$0.72 after Friday’s -$0.72),
- AxoGen (AXGN -$0.58 after Friday’s +$0.18),
- Beam Therapeutics (BEAM -$0.54 after Friday’s -$0.34),
- Regenxbio (RGNX -$0.49 after Friday’s -$0.31),
- Vericel (VCEL -$0.46),
- Ionis Pharmaceuticals (IONS -$0.42 after Friday’s -$0.40),
- Caribou Biosciences (CRBU -$0.16),
- Editas Medicine (EDIT -$0.14),
Flat:
- Biostage (OTCQB: BSTG $0.00),
Closing Up (11 of 11):
- Sage Therapeutics (SAGE +$1.56 after Friday’s -$0.43),
- Intellia Therapeutics (NTLA +$0.62 after Friday’s -$1.37),
- MiMedx (MDXG +$0.43),
- Mesoblast (MESO +$0.31 after Friday’s +$0.02),
- CRISPR Therapeutics (CRSP +$0.24 after Friday’s -$0.85),
- Ultragenyx (RARE +$0.21 after Friday’s -$1.61),
- Solid Biosciences (SLDB +$0.12 after Friday’s +$0.13),
- Bellicum Pharmaceuticals (BLCM +$0.12),
- Precigen (PGEN +$0.10 after Friday’s +$0.01),
- Chinook Therapeutics (KDNY +$0.05 after Friday’s -$1.27),
- bluebird bio (BLUE +$0.01 after Friday’s +$0.02),
Q1/23 – February
- Monday closed negative with 11 incliner, 23 decliners and 1 flat
The BOTTOM LINE: I try to keep it simple … and short!
A decline had been fore-shadowed as the past upsides were profited upon.
Upcoming Q4 earnings reporting will present challenges to share pricing.
· Sage Therapeutics (SAGE) 2/16 - Thursday
· Alnylam Pharmaceuticals (ALNY) 2/23 - Thursday
If you thought of buying on weakness, you might be jumping onto a sinking ship.
Attention remains… laser-focused on week’s busy economic calendar; there’s still a bit of hesitation in front of inflation data to really see the reality of the markets and cell and gene therapy sector ability or capacity to move upward.
Avrobio (AVRO) closed down -$0.02 after friday's -$0.01 after Thursday’s +$0.01 to $0.94 with 638,562 shares traded, Wednesday’s +$0.02, Tuesday’s +$0.01, Monday’s +$0.01 with 206,848 shares traded and last Friday’s +$0.02 to $0.88 with 144,019 shares <3-month average = 354,039 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?
STILL, 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)
Tuesday closed flat agaon on Monday with 2 shares traded after Friday with 90 shares traded after Thursday’s flat with 0 shares traded, Wednesday’s +$0.28 with 467 shares traded, Tuesday’s -$0.73 with 3,710 shares traded after Monday closed down -$0.03 with772 shares traded and last Friday’s flat with 1,695 shares traded. <3-month average volume = 1,285 shares>
· BSTG has “pulled” its proposed offering … “Withdrawal of Registration Statement on Form S-1 (File No. 333-265741)”
· 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!
Question; is OTCQB: BSTG a Ponzi scheme (the pump/promote buy and sell agenda) 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.
