March 16, 2023 7:46am

As most CEOs and CFOs take deposits to safety everywhere but, there - Silicon Valley Bank (SVB)

Earnings: BioLife Solutions (BLFS)

Pre-open Indications: 3 Positive and 3 Negative Indications

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 DOWN -0.40% or (-129 points), S&P futures are DOWN -0.28% or (-11 point) and NASDAQ futures are UP +0.14% or (+16 points) early in the pre-open – so far

U.S. stock futures are mixed and fluctuating on Thursday,

European markets higher,

Asia-Pacific markets fall on bank fears.

 

Henry’omics:

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

Wednesday, indexes fell as pressure on the financial and cell and gene therapy sectors increased. 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%)

Economic Data Docket: latest jobless claims report. Housing starts data from the U.S. Census Bureau

 

Tuesday’s (3/15) … RegMed Investors’ (RMi) closing bell: “cell and gene therapy sector suffers from Autophobia. A fear of banking abandonment, investor panic attacks and shareholder traumatic event.” … https://www.regmedinvestors.com/articles/12873

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 --- 25 of 35 (my coverage group)

 

Ebb and flow:

Q1/23 –

March – 3 positive and 8 negative closes

·         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

Negative indications:

Wednesday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)

·         Beam Therapeutics (BEAM) closed up +$0.96 after Tuesday’s +$0.38 and Monday’s +$1.62 with a negative -$1.35 or -3.85% pre-open indication.

·         Ionis Pharmaceuticals (IONS) closed up +$0.43 with a negative -$0.38 or -1.11% aftermarket indication

·         BioLife Solutions (BLFS) closed down -$0.09 after Tuesday’s +$0.80 with a negative -$0.65 or +3.03% pre-open indication and earnings today while also “handling” its Silicon Valley bank (SVB) deposit “issue”

Positive Indications:

Wednesday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)

·         Ultragenyx (RARE) closed up +$0.17 after Tuesday’s -$0.32 and Monday’s +$2.12 with a positive +$0.81 or +1.99% aftermarket indication.

·         uniQure NV (QURE) closed down -$0.61 after Tuesday’s +$0.32 with a positive +$0.39 or +2.02% aftermarket indication.

·         Verve Therapeutics (VERV) closed down -$0.37 with a positive +0.37 or +2.17% aftermarket indication.

 

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

The roller-coaster ride is NOT over.

“A potential global financial crisis is, to put it mildly, far more important than whether, say, a jobs report is too strong or weak. So even minor shifts in positive or negative sentiment can trigger massive market swings. And huge swings in one market, such as Treasuries, will ripple through stocks, commodities and currencies.” <IBD>

Reiterating, “The forever lingering question weighs… the sector’s financial stability as related to economic data, inflation affecting share pricing and capital markets, risks compounded by the Silicon Valley Bank’s (SVB) “fall out” and shifting Fed expectations.”

Cash as more attractive than equities …!

Also, the rush of Q4 and FY22 earnings to release is STILL on … I do NOT believe there are not 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.

25 of my 35 covered have reported – 1 yesterday.

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, I am mostly EARLY!

Upcoming Q4 earnings reporting will present challenges to share pricing.

·         There are more coming – waiting for announcements

 

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.