March 1, 2023 7:57am

An uptrend will be pressured with key short-term resistance

Pre-open Indications: 6 Positive 2 Sell into Strength and 2 Negative

A daily report may say little or a lot and its final judgement may be inconclusive; yet it serves as insurance that all indications are being examined, evaluated and reported.

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. 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 …

 

Dow futures are UP +0.23% or (+74 points), S&P futures are UP +0.28% or (+11 point) and NASDAQ futures are UP +0.43% or (+51 points) early in the pre-open – so far

Stock futures rose Wednesday, the first day of March

European markets higher,

Asia-Pacific markets mostly rose with Australia being down.

 

Henry’omics:

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

The Dow closed DOWN -232.39 points (-0.71%); the S&P closed DOWN -12.09 points (-0.30%) while the Nasdaq closed DOWN -11.44 points (-0.10%)

On the last session of February, indexes were among the fallen as the Dow, the S&P and the Nasdaq felt subdued.

February’s slide dragged the Dow into negative territory for the year, while the S&P and Nasdaq held onto their gains.

The major indexes faded from intraday highs for a second straight session.

Economic Data Docket: construction and manufacturing data

 

Tuesday’s (2/28) … RegMed Investors’ (RMi) closing bell: “a volatile February comes to an end as Q4 and FY22 keep rolling out after a month of stumbles, cell/gene therapy equities retreated in February with economic data roiling direction.” … https://www.regmedinvestors.com/articles/12848

RegMed Investors (RMi) Research Note: Upcoming Q4 earnings reporting dates … https://www.regmedinvestors.com/articles/12830

RegMed Investors (RMi) Research Note: Q4 and FY22 earnings reporting … “The cell and gene therapy sector fluctuates in revenues, collaboration, regulatory submissions and expenses, but the changes may alarm investors who prefer to see expectation and consensus stability and share pricing growth” … https://www.regmedinvestors.com/articles/12843

 

Ebb and flow:

Q1/23 –

March – first session

·         February – 1 holiday, 2 vacation, 7 negative and 8 positive closes

·         January – 2 holidays, 11 positive and 9 negative closes

 

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

Positive indications:

·         Chinook Therapeutics (KDNY) +$1.09

·         CRISPR Therapeutics (CRSP) +$0.39

·         Fate Therapeutics (FATE) +$0.13

·         Ionis Pharmaceuticals (IONS) +$0.25

·         Prime Medicine (PRME) +$0.82

·         MiMedx (MDXG) +$0.19

Sell into Strength:

·         Ultragenyx (RGNX) +$0.14

·         Beam Therapeutics (BEAM) +$0.75

Negative Indications:

·         Sage Therapeutics (SAGE) -$1.21

·         Mesoblast (MESO) -$0.20

 

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

The rush of Q4 and FY22 earnings to release is on … I do NOT believe there aren't a lot of cell/gene therapy companies in position yet – UNTIL earnings (Q4 and FY22) are reported – any breakout is a false hope with the inevitable downside re-occurring.

I also 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!

Upcoming Q4 earnings reporting will present challenges to share pricing.

·         Voyager Therapeutics (VYGR) 3/7 - Tuesday

·         Agenus (AGEN) -3/14 – Tuesday

 

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.