March 15, 2023 4:47pm
A fear of banking abandonment, investor panic attacks and shareholder traumatic event
Pre-open indication Results: 3 Hits and 3 Miss
Earnings: Compass Therapeutics (CMPX)
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, operating executive, adjunct (MBA) business school professor 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 -280.83 points (-0.87%); the S&P closed DOWN -27.36 points (-0.70%) while the Nasdaq closed UP +5.90 points (+0.05%)
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 Wednesday as pressure on the financial and cell and gene therapy sectors increased.
This crisis in the financial sector has centered around regional banks as Silicon Valley Bank (SVB) and Signature Bank collapsed, while Credit Suisse hit an all-time low - each a casualty of poor management in the face of eight interest rate hikes by the Fed in the last 12 months.
Economic Data Docket: data showed retail sales fell 0.4% last month from a growth of 3.2% in January, while economists polled by Reuters had expected a contraction of 0.3%. A separate report showed U.S. producer prices unexpectedly fell in February and the rise in prices in January was not as large as initially thought.
RegMed/Stem/Cell and Gene Therapy’s 35 covered equities’ Advance/Decline (A/D) lines: what happened – differences
- Wednesday’s advance/decline line opened negative at 9 up/ 24 down and 2 flats, stayed negative with 7 up/ 27 down and 1 flat at the mid-day, ending with a negative close of 10/21 and 4 flats
Pre-open indication Results: 3 Hits < BioLife Solutions (BLFS -$0.09), Bellicum Pharmaceuticals (BLCM -$0.43), uniQure NV (QURE -$0.61)> and 3 Miss < Beam Therapeutics (BEAM +$0.96), Ultragenyx (RARE +$0.17), MiMedx (MDXG -$0.19)>
RegMed Investors (RMi) Research Note: Q4 and FY22 earnings reporting … https://www.regmedinvestors.com/articles/12843 - 25 of 35
RegMed Investors (RMi) Research Note: Upcoming Q4 earnings reporting dates … https://www.regmedinvestors.com/articles/12830
Key Metrics:
The iShares NASDAQ Biotechnology (IBB) and the SPDR S&P ETF (XBI) indicators:
- Wednesday, the IBB was down -0.70% and the XBI was down -1.23%
The CBOE Volatility Index (VVIX: INDEX) tracked:
- Wednesday was up +3.33 points or +14.03% at 27.06
Closing Down (10 of 21):
- Alnylam Pharmaceuticals (ALNY -$1.35 after Tuesday’s +$2.24 and Monday’s +$2.29),
- Sage Therapeutics (SAGE -$0.72 after Tuesday’s +$0.68 and Monday’s +$3.80),
- uniQure NV (QURE -$0.58 after Tuesday’s +$0.32),
- Chinook Therapeutics (KDNY -$0.58),
- Prime Medicine (PRME -$0.55 after Tuesday’s -$0.65),
- Biostage (OTCQB: BSTG -$0.44),
- Bellicum Pharmaceuticals (BLCM -$0.43 after Tuesday’s -$0.09),
- Verve Therapeutics (VERV -$0.37 after Tuesday’s -$0.43 and Monday’s -$0.77),
- Voyager Therapeutics (VYGR -$0.27 after Tuesday’s +$0.42),
- CRISPR Therapeutics (CRSP -$0.23 after Tuesday’s -$0.57 and Monday’s +$2.50)
FLAT:
- Verastem (VSTM)
- Sangamo Therapeutics (SGMO)
- Editas Medicine (EDIT)
- Precigen (PGEN)
Closing Up (10 of 10):
- Beam Therapeutics (BEAM +$0.96 after Tuesday’s +$0.38 and Monday’s +$1.62),
- Intellia Therapeutics (NTLA +$0.75 after Tuesday’s +$1.82 and Monday’s +$2.49),
- Ionis Pharmaceuticals (IONS +$0.43),
- Ultragenyx (RARE +$0.17 after Tuesday’s -$0.32 and Monday’s +$2.12),
- Agenus (AGEN +$0.10),
- Fate Therapeutics (FATE +$0.08),
- Brainstorm Cell therapeutics (BCLI +$0.040,
- Adverum Biotechnologies (ADVM +$0.0288),
- Avrobio (AVRO +$0.02),
Q1/23 – March
- Wednesday closed negative with 10 incliner, 21 decliners and 4 flats
The BOTTOM LINE: I try to keep it simple … and short! From the sick bed, I came slowly today …
Liquidity has been POOR today as the sector stared into the abyss of wreckage post the SVB “debacle” as “Black Lives Matter” got $73 M while depositors all but had heart attacks (over past days) over their accounts until the FDIC, FED and Justice Department with the Comptroller of the Currency are investigating.
· <Markets are said to have liquidity when their participants are able to quickly buy and sell securities without significantly affecting the prices of those securities. Liquidity declines when it becomes more difficult to trade an investment due to an imbalance in the number of buyers and sellers, or because of price volatility. A security that cannot be bought or sold without a major change in price may be described as illiquid.>
Volumes are higher, which tells me a lot of investors feel their share pricing and holdings are being abandoned by traders seeking to diminish any exposure.
As I stated this a.m., “Cash is more attractive than equities!”
The sector’s WHIPLASH is NOT over!
The rush of Q4 and FY22 earnings to release is on … 23 of my 35 covered have reported.
· Compass Therapeutics (CMPX) - today
Upcoming Q4 earnings reporting will present challenges to share pricing.
· 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!!
Wednesday closed down -$0.44 with 4,166 shares traded after Tuesday closed down -$0.02 with 5,105 shares traded after Monday’s +$0.26 with 10,1190 shares traded, Friday closed up +$0.31 after Thursday -$0.02 with 13,252 shares traded, Wednesday’s +$0.02 with 2,700 shares traded and last Tuesday -$0.10 with 510 shares traded <3-month average volume = 1,591 shares>
· 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 …??
· Where is the SEC??
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.
