March 6, 2023 4:47pm
Markets grid for testimony from Powell on Tuesday and Wednesday.
Pre-open indication Results: 9 Hits and 1 Miss
Earnings: Precigen (PGEN)
News: Voyager Therapeutics (VYGR +$0.65 or +8.89%) announced that Novartis AG (NYSE: NVS) has exercised its options to license novel capsids generated from Voyager’s TRACER™ capsid discovery platform for use in gene therapy programs against two undisclosed neurologic disease targets.
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 +40.47 points (+0.12%); the S&P closed UP +2.78 points (+0.07%) while the Nasdaq closed DOWN -13.27 points (-0.11%)
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 …
Two indexes (Dow and S&P) rose Monday while the Nasdaq pooped the bed, building on last week’s gains after its pains.
Traders seem to be betting on two or three more quarter-point rate rises going forward. A meaningful rally or a painful drawdown could lie ahead.
Economic Data Docket: Investors are awaiting Federal Reserve Chair Jerome Powell congressional testimony slated for Tuesday and Wednesday. The remarks will guide investors and lawmakers on how the central bank is thinking about inflation and its rate-hiking campaign, and determine the market goes from here. <CNBC>
Pre-open indication Results: 9 Hits < Compass Therapeutics (CMPX -$0.12), Sell into Strength: Alnylam Pharmaceuticals (ALNY -$2.88), BioLife Solutions (BLFS -$1.17), Chinook Therapeutics (KDNY -$0.55), CRISPR Therapeutics (CRSP -$1.51), Caribou Biosciences (CRBU -$0.31), Prime Medicine (PRME -$0.68), Ionis Pharmaceuticals (IONS -$0.35), MiMedx (MDXG -$0.16)> and 1 Miss <Beam Therapeutics (BEAM -$0.97)>
RegMed Investors (RMi) Research Note: Q4 and FY22 earnings reporting … https://www.regmedinvestors.com/articles/12843
RegMed Investors (RMi) Research Note: Upcoming Q4 earnings reporting dates … https://www.regmedinvestors.com/articles/12830
RegMed/Stem/Cell and Gene Therapy’s 35 covered equities’ Advance/Decline (A/D) lines: what happened – differences
- Monday’s advance/decline line opened negative at 7 up/ 26 down and 2 flats, stayed negative with 5 up/ 28 down and 2 flats at the mid-day, ending with a negative close of 6/27 and 2 flats
- Friday’s advance/decline line opened positive at 24 up/ 9 down and 2 flats, stayed positive with 23 up/ 10 down and 0 flats at the mid-day, ending with a positive close of 22/13 and 0 flat
Key Metrics:
The iShares NASDAQ Biotechnology (IBB) and the SPDR S&P ETF (XBI) indicators:
- Monday, the IBB was down -0.93% and the XBI was down -1.75%
- Friday, the IBB was up +1.68% and the XBI was up +1.42%
The CBOE Volatility Index (VVIX: INDEX) tracked:
- Monday was up +0.22 points or +1.19% at 18.71
- Friday was down -1.08 points or -5.51% at 18.51
Closing Down (10 of 27):
- Intellia Therapeutics (NTLA -$3.31 after Friday’s -$0.60)
- Alnylam Pharmaceuticals (ALNY -$2.88 after Friday’s +$8.14),
- Ultragenyx (RARE -$1.54 after Friday’s +$0.65),
- CRISPR Therapeutics (CRSP -$1.51 after Friday’s +$1.65)
- Regenxbio (RGNX -$1.46 after Friday’s +$0.85)
- Vericel (VCEL -$1.30 after Friday’s +$1.10),
- BioLife Solutions (BLFS -$1.17 after Friday’s +$0.64),
- Beam Therapeutics (BEAM -$0.97),
- Prime Medicine (PRME -$0.68 after Friday’s +$0.57),
- Verve Therapeutics (VERV -$0.66 after Friday’s -$0.69),
Flat (2):
- Biostage (OTCQB: BSTG
- Homology Medicine (FIXX)
Closing Up (6 of 6):
- Voyager Therapeutics (VYGR +$0.65),
- Sage Therapeutics (SAGE +$0.30 after Friday’s -$0.14),
- Mesoblast (MESO +$0.03),
- Cellectis SA (CLLS +$0.03 after Friday’s -$0.005)
- Adverum Biotechnologies (ADVM +$0.0061),
- Bellicum Pharmaceuticals (BLCM +$0.021 after Friday’s -$0.0218),
Q1/23 – March
- Monday closed negative with 6 incliner, 27 decliners and 2 flats
- Friday closed positive with 22 incliner, 13 decliners and 0 flat
- Thursday closed negative with 12 incliner, 19 decliners and 4 flats
- Wednesday closed negative with 12 incliner, 22 decliners and 1 flat
The BOTTOM LINE: I try to keep it simple … and short!
Today’s dip below Friday’s upside closing range that could signal more selling ahead as the Nasdaq saw its early gains fade and was practically flat in afternoon trading.
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 and verify journalist/analyst.
Trading has been choppy this month after economic data; as risk assets faced headwinds from inflation data and tightening monetary policy
The rush of Q4 and FY22 earnings to release is on … 16 of my 35 covered have reported.
Upcoming Q4 earnings reporting will present challenges to share pricing.
- Pregen (PGEN) 3/6 - Monday
- Voyager Therapeutics (VYGR) 3/7 – Tuesday
- Cellectis SA (CLLS) 3/9 - Thursday
- Agenus (AGEN) 3/14 -Tuesday
- AxoGen (AXGN) 3/14 Tuesday
WHY (?) do I keep posting, so investors can get a daily update of the sector's share pricing and some individual companies TRUTHS while electronic trading chews on our portfolio edges.
Remember, there are four (4) phases of the stock cycle: accumulation; markup; distribution; and markdown.
My advice: open that portfolio envelope and think of a game of monopoly and follow RMi’s moves to recoup losses. As I have stated, “What goes up with ceremony, goes down with disdain followed by the opposite effect.”
There are clear losers today … Intellia therapeutics (NTLA), Alnylam Pharmaceuticals (ALNY) and Ultragenyx (RARE)
With winners … Voyager Therapeutics (VYGR) on news of $25 m infusion from collaboration, Sage Therapeutics (SAGE), and Mesoblast (MESO)
Biostage (OTCQB: BSTG)
Monday closed flat with 2,320 shares traded <3-month average volume = 1,098 shares> after Friday’s down -$0.20 with 2,270 shares traded after being flat on Thursday with 0 shares traded after Wednesday flat with 71 shares traded after Tuesday’s flat 5,601 shares traded on Tuesday and Monday’s -$0.20 with 382 shares traded. Yet another CEO and chairman, Jerry He – what changes to the ill-fated story will ONLY be relieved by TRULY reviewing the past and communicating with those who have something to say – to right-size this company!
· Leaving by his own hand or replaced -David Green, CEO and Chairman of Board did accomplish ONE THING – he was able to shift LIABILITY of $5 M death suit (enabled Paolo Macchiarini artificial organ lawsuit) after he made the decision and were PERSONALLY LIABLE to SHAREHOLDERS …???
· 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: Review the number of shares traded … is OTCQB: BSTG a Ponzi scheme (with their pump/promote buy and sell agenda) as shares are bought to replace those sold??
· The past management team is and was disconnected with US investors and I-Banks; so it behooves the new CEO to connect with a more solid story and reduce those who have brought the company to its toes!
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.
