March 17, 2023 5:07pm

Silicon Valley Bank Group (SIVB) bankruptcy resulted in deeper cell and gene therapy sector lows … https://www.regmedinvestors.com/articles/12877

Pre-open indication Results:  5 Miss

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.

The week in review - TGIF

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 -384.57 points (-1.19%); the S&P closed DOWN -43.64 points (-1.10%) while the Nasdaq closed DOWN -86.76 points (-0.74%)

 

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 Friday as investors pulled back from positions in bank shares amid lingering concerns over the state of the sector.

This week, ended with a down session, while the S&P 500 has advanced 1.2%, the Nasdaq gained 4.1%. as the Dow was down 0.4%.

The Fed’s decision on whether to raise interest rates by 25 basis points or implement no rate hike at next week’s policy meeting … could depend on what happens in the coming days.

Economic Data Docket: The University of Michigan’s consumer sentiment index fell to 63.4 in March, from 67 last month as inflation expectations remained elevated.

 

RegMed/Stem/Cell and Gene Therapy’s 35 covered equities’ Advance/Decline (A/D) lines: what happened – differences

  • Friday’s advance/decline line opened negative at 5 up/ 28 down and 2 flats, stayed negative with 2 up/ 33 down and 0 flat at the mid-day, ending with a negative close of 7/28 and 0 flat
  • Thursday’s advance/decline line opened negative at 4 up/ 29 down and 2 flats, flipped positive with 21 up/ 13 down and 1 flat at the mid-day, ending with a positive close of 20/14 and 1 flat
  • 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
  • Tuesday’s advance/decline line opened positive at 25 up/ 9 down and 1 flat, stayed positive at the mid-day with 21 up/ 12 down and 2 flats, at approximately at 2 p.m. a negative 15 down/ 18 up and 2 flats, ending with a positive close of 18/14 and 3 flats
  • 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

 

Pre-open indication Results: 5 Miss < Ionis Pharmaceuticals (IONS +$0.18), BioLife Solutions (BLFS +$1.54), Prime Medicine (PRME -$0.92), Beam Therapeutics (BEAM -$2.29), Solid Biosciences (SLDB -$0.51)>

52-week low:

·         Prime Medicine (PRME) at $12.45

·         Precigen (PGEN) at $1.03

·         Caribou Biosciences (CRBU) at $4.84

·         Sangamo Therapeutics (SGMO) at $2.02

·         Homology Medicine (FIXX) at $0.97

·         Solid Biosciences (SLDB) at $4.55

 

RegMed Investors (RMi) Research Note: Q4 and FY22 earnings reporting … https://www.regmedinvestors.com/articles/12843 - 26 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:

  • Friday, the IBB was down -1.77% and the XBI was down -2.21%
  • Thursday, the IBB was up +0.54% and the XBI was up +0.23%
  • Wednesday, the IBB was down -0.70% and the XBI was down -1.23%
  • Tuesday, the IBB was up +1.26% and the XBI was up +1.61%
  • Monday, the IBB was up +2.79% and the XBI was up +2.92%

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Friday was up +2.52 points or +10.96% at 25.51
  • Thursday was down -2.95 points or -11.29% at 23.19
  • Wednesday was up +3.33 points or +14.03% at 27.06
  • Tuesday was down -2.86 points or -10.78% at 23.66
  • Monday was up +1.82 points or +7.34% at 26.62

 

Closing Down (10 of 28):

  • Alnylam Pharmaceuticals (ALNY -$4.21 after Thursday’s +$3.91, Wednesday’s -$1.35, Tuesday’s +$2.24 and Monday’s +$2.29),
  • Beam Therapeutics (BEAM -$2.29 after Thursday’s +$0.41, Wednesday’s +$0.96, Tuesday’s +$0.38 and Monday’s +$1.62),
  • Ultragenyx (RARE -$1.69 after Thursday’s -$0.51, Wednesday’s +$0.17, Tuesday’s -$0.32 and Monday’s +$2.12),
  • Vericel (VCEL -$1.60),
  • Regenxbio (RGNX -$0.94 after Thursday’s +$0.26),
  • Prime Medicine (PRME -$0.92 after Thursday’s +$0.23, Wednesday’s -$0.55 and Tuesday’s -$0.65),
  • Sage Therapeutics (SAGE -$0.89 after Thursday’s +$0.32, Wednesday’s -$0.72, Tuesday’s +$0.68 and Monday’s +$3.80),
  • Intellia Therapeutics (NTLA -$0.71 after Thursday’s -$0.33, Wednesday’s +$0.75, Tuesday’s +$1.82 and Monday’s +$2.49),
  • Solid Biosciences (SLDB -$0.51 after Thursday’s -$0.18),
  • Verve Therapeutics (VERV -$0.44 after Thursday’s -$0.13, Wednesday’s -$0.37, Tuesday’s -$0.43 and Monday’s -$0.77),

Closing Up (7 of 7):

  • BioLife Solutions (BLFS +$1.54 after Thursday’s -$1.50),
  • CRISPR Therapeutics (CRSP +$0.35 after Thursday’s +$0.47, Wednesday’s -$0.23, Tuesday’s -$0.57 and Monday’s +$2.50)
  • Biostage (OTSQB: BSTG +$0.22)
  • Ionis Pharmaceuticals (IONS +$0.18 after Thursday’s +$0.81 and Wednesday’s +$0.43),
  • Brainstorm Cell Therapeutics (BCLI +$0.05 after Thursday’s -$0.06 and Wednesday’s +$0.04),
  • Cellectis SA (CLLS +$0.02 after Thursday’s +$0.0068)
  • Verastem (VSTM +$0.0045)

 

Q1/23 – March

  • Friday closed negative with 7 incliner, 28 decliners and 0 flat
  • Thursday closed positive with 20 incliner, 14 decliners and 1 flat
  • Wednesday closed negative with 10 incliner, 21 decliners and 4 flats
  • Tuesday closed positive with 18 incliner, 14 decliners and 3 flats
  • Monday closed positive with 27 incliner, 7 decliners and 1 flat

 

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

A few words about the week, “fed up” – other banks should NOT consider EMPLOYING all those SVB employes that promised – SAFETY and left – everyone and themselves hanging!

WHAT risks did they take – NONE while many of my covered sector companies suffered along with myself … personally!

  • CFOs and CEOs should REJECT those realtionship managers ... If they show-up as employees of the new bank that ... cell and gene therapy sector deposits were moved to!!!!

As I stated the other day, “I am STILL of the opinion that, “Cash is more attractive than equities!”

The sector’s WHIPLASH is NOT over!

The rush of Q4 and FY22 earnings to release is on … 26 of my 35 covered have reported.

Upcoming Q4 earnings reporting will present challenges to share pricing.

·         Nine (9) more releases of my 35 covered companies

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 the volume by promoting the share price!!

Friday closed up +$0.22 with 1,590 shares traded following Thursday’s +$0.09 with 3,924 shares traded after Wednesday closed down -$0.44 with 4,166 shares traded, Tuesday closed down -$0.02 with 5,105 shares traded, Monday’s +$0.26 with 10,1190 shares traded, Friday closed up +$0.31 <3-month average volume = 1,650 shares>

·         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.