March 13, 2023 4:41pm
Along came the cell/gene therapy sector climbing back because of SVB worry and share pricing fear
in the UK, HSBC step-in and bought the U.K. subsidiary of Silicon Valley Bank
Pre-open indication Results: 4 Hits and 3 Miss
The Biostage (OTCQB: BSTG) Chronicles – still pumping! <read more>
I write this blog/newsletter to inform investors with facts and supporting numbers focused on what they need to hear that others will not say or write about - truth!
Subscription is coming, it is 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 DOWN -90.50 points (-0.28%); the S&P closed DOWN -5.83 points (-0.15%) while the Nasdaq closed UP +49.96 points (+0.45%)
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 inched up Monday as traders assessed a plan to backstop all the depositors in failed Silicon Valley Bank and make additional funding available for other banks.
The Fed also said it is creating a new Bank Term Funding Program aimed at safeguarding deposits. The facility will offer loans of up to one year to banks, saving associations, credit unions and other institutions. <CNBC>
The Cboe Volatility index (VIX) fear gauge, reached a level not seen since late 2022 and neared territory considered highly risky. It was last up about 1 point at 25.83.
Economic Data Docket: Tuesday's inflation data comes just over a week before the Fed's next policy announcement, set for March 22.
Pre-open indication Results: 4 Hits <Sage Therapeutics (SAGE +$3.80), Ultragenyx Pharmaceuticals (RARE +$2.12), uniQure NV (QURE +$0.40), Solid Biosciences (SLDB+$0.39)> and 3 Miss < Ionis Pharmaceuticals (IONS -$0.38), Caribou Biosciences (CRBU +$0.15), Compass Therapeutics (CMPX +$0.18)>
52-week low:
· Sangamo Therapeutics (SGMO) at $2.23
RegMed Investors (RMi) Research Note: Q4 and FY22 earnings reporting … https://www.regmedinvestors.com/articles/12843 - 21 of 35
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 positive at 24 up/ 8 down and 3 flats, stayed positive with 28 up/ 7 down and 0 flats at the mid-day, ending with a positive close of 27/7 and 1 flat
- Friday’s advance/decline line opened negative at 0 up/ 32 down and 3 flats, stayed negative at the mid-day with 2 up/ 32 down and 1 flat, ending with a negative close of 1/34 and 0 flats
Key Metrics:
The iShares NASDAQ Biotechnology (IBB) and the SPDR S&P ETF (XBI) indicators:
- Monday, the IBB was up +2.79% and the XBI was up +2.92%
The CBOE Volatility Index (VVIX: INDEX) tracked:
- Monday was up +1.82 points or +7.34% at 26.62
Closing Down (7 of 7):
- Ionis Pharmaceuticals (IONS -$0.38),
- Homology Medicine (FIXX -$0.14),
- Mesoblast (MESO -$0.09),
- Brainstorm cell Therapeutics (BCLI -$0.07),
- Cellectis SA (CLLS -$0.05),
- AxoGen (AXGN -$0.05),
- Sangamo Therapeutics (SGMO -$0.01).
Flat (1)
- Precigen (PGEN)
Closing Up (10 of 27):
- Sage Therapeutics (SAGE +$3.80 after Friday’s -$3.51),
- CRISPR Therapeutics (CRSP +$2.50 after Friday’s -$2.57)
- Intellia Therapeutics (NTLA +$2.49 after Friday’s -$1.60),
- Alnylam Pharmaceuticals (ALNY +$2.29 after Friday’s -$3.29),
- Ultragenyx (RARE +$2.12 after Friday’s -$1.16),
- Beam Therapeutics (BEAM +$1.62 after Friday’s -$2.67),
- BioLife Solutions (BLFS +$1.27 after Friday’s -$3.00)
- Verve Therapeutics (VERV -$0.77),
- Chinook Therapeutics (KDNY +$0.73 after Friday’s -$1.46),
- Editas Medicine (EDIT +$0.60).
Q1/23 – March
- Monday closed positive with 27 incliner, 7 decliners and 1 flat
- Friday closed negative with 1 incliner, 34 decliners and 0 flat
The BOTTOM LINE: I try to keep it simple … and short!
From this a.m.’s post: If economic data releases were hard enough to hurdle i.e.; share pricing deep dives in the new month’s eight (8) sessions contributes, following the collapse of Silicon Valley Bank (SVB) that effected not just investors and companies but, employee’s payrolls contributing to the last week’s conflagration
Cell and gene therapy sector weakness should stimulate BUYING after selling had become extreme enough to possibly … generate the oversold to bounce skyward.
Luck, luck and luckier …
After … Bad, bad day at Silicon Valley Bank (SVB) which has supported, financed and banked many cell and gene therapy companies -- NOW -- All SVB depositors will have access to their money starting Monday, according to a joint statement from the Treasury Department, Federal Reserve and the FDIC. <Bloomberg>
Recent pullbacks (7 out of 8 sessions) in cell and gene therapy equities were overdone; setting-up electronic trading/algorithms to reap benefit … helping shareholders.
The rush of Q4 and FY22 earnings to release is on … 21 of my 35 covered have reported.
Upcoming Q4 earnings reporting will present challenges to share pricing.
· Agenus (AGEN) 3/14 -Tuesday
· AxoGen (AXGN) 3/14 Tuesday
· BioLife Solutions (BLFS) 3/16 - Thursday
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.
As I have stated, “What goes up with ceremony, goes down with disdain followed by the opposite effect.”
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.
The NO spin zone!
Biostage (OTCQB: BSTG) – still pumping!!
Monday closed up +$0.26 with 10.1190 shares traded after Friday closed up +$0.31 after Thursday -$0.02 with 13,252 shares traded after Wednesday’s +$0.02 with 2,700 shares traded Tuesday -$0.10 with 510 shares traded after Monday closed flat with 0 shares traded <3-month average volume = 1,4.37 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.
· 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!
· 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??
· Let’s also welcome a NEW accounting firm – the fourth (4th) in five (5) years. When will they resign …??
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.
