March 23, 2023 4:46pm
What “effects” were we wading through – fear, uncertainty and volatility
Pre-open indication Results: 1 Hits and 5 Miss
Share pricing past: Avrobio (AVRO) closed down -$0.34 to $0.89 – repeating its not-so-long-ago past of being below Nasdaq’s $1.00 bid price requirement
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 UP +74.12 points (+0.23%), the S&P closed UP +11.53 points (+0.29%) while the Nasdaq closed UP +117.44 points (+1.01%)
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 rebounded Thursday from a 500-point loss in the Dow as investors bet the Fed was done hiking interest rates.
The Fed … “raised rates by 25 basis points, as expected. It also hinted that its inflation-fighting tightening campaign could be nearing the end, with the removal of the phrase “ongoing increases” from its statement. While Powell said that “rate cuts are not in our base case” for the remainder of 2023, traders priced in expectations of the central bank lowering rates this year”. <CNBC>
Economic Data Docket: Jobless claims unexpectedly nudged lower last week, pointing to a labor market that remains extremely tight. Initial filings for unemployment insurance totaled 191,000 for the week ended March 18, below the estimate for 198,000. That was a decline of 1,000 from the previous period. Continuing claims, which run a week behind, rose by 14,000 to 1.694 million.
RegMed/Stem/Cell and Gene Therapy’s 35 covered equities’ Advance/Decline (A/D) lines: what happened – differences
- Thursday’s advance/decline line opened positive at 24 up/ 8 down and 3 flats, flipped negative with 11 up/ 23 down and 1 flat at the mid-day, ending with a positive close of 20/15 and 0 flat
Pre-open indication Results: 1 Hits <Sage Therapeutics (SAGE +$0.42)> and 5 Miss <BioLife Solutions (BLFS +$0.56), CRISPR Therapeutics (CRSP -$0.40), Verve Therapeutics (VERV -$0.87), Intellia Therapeutics (NTLA -$0.33), Ultragenyx (RARE -$0.29)
52-week low:
· Avrobio (AVRO) at $0.89 – back under $1.00 repeating the past
· Prime Medicine (PRME) at $11.58
· Precigen (PGEN) at $0.93
· Sangamo Therapeutics (SGMO) at $1.70
RegMed Investors (RMi) Research Note: Q4 and FY22 earnings reporting … https://www.regmedinvestors.com/articles/12843 - 28 of 35
Key Metrics:
The iShares NASDAQ Biotechnology (IBB) and the SPDR S&P ETF (XBI) indicators:
- Thursday, the IBB was UP +0.90% and the XBI was up +0.78%
The CBOE Volatility Index (VVIX: INDEX) tracked:
- Thursday was up +0.17 points or +0.76% at 22.43
Closing Down (10 of 15):
- Ionis Pharmaceuticals (IONS -$1.67),
- Verve Therapeutics (VERV -$0.87 after Wednesday’s -$1.47 and Tuesday’s +$0.34),
- Prime Medicine (PRME -$0.82 after Wednesday’s -$0.88, Tuesday’s +$0.38 and Monday’s +$0.61),
- CRISPR Therapeutics (CRSP -$0.40 after Wednesday’s +$1.52, Tuesday’s +$0.60 and Monday’s -$1.28)
- Avrobio (AVRO -$0.34),
- Beam Therapeutics (BEAM -$0.33 after Wednesday’s -$0.27, Tuesday’s +$0.17 and Monday’s -$0.99),
- Ultragenyx (RARE -$0.29 after Wednesday’s -$1.06, Tuesday’s -$0.66 and Monday’s +$0.47),
- Precigen (PGEN -$0.07),
- Sangamo Therapeutics (SGMO -$0.06),
- Mesoblast (MESO -$0.05 after Wednesday’s +$0.12 and Tuesday’s +$0.20),
Flat (1):
- AxoGen (AXGN)
Closing Up (10 of 20):
- uniQure NV (QURE +$1.25),
- Alnylam Pharmaceuticals (ALNY +$0.73),
- Chinook Therapeutics (KDNY +$0.73),
- BioLife Solutions (BLFS +$0.56 after Wednesday’s -$1.09, Tuesday’s +$1.29 and Monday’s -$0.54),
- Vericel (VCEL +$0.52 after Wednesday’s -$2.11, Tuesday’s +$0.46 and Monday’s +$0.63),
- Sage Therapeutics (SAGE +$0.42 after Wednesday’s -$1.26, Tuesday’s -$0.69 and Monday’s +$1.23),
- Regenxbio (RGNX +$0.25 after Wednesday’s -$1.23),
- Biostage (OTCQB: BSTG +$0.21 after Wednesday’s +$0.24 and Tuesday’s $0.00),
- Editas Medicine (EDIT +$0.12),
- Cellectis SA (CLLS +$0.12),
Q1/23 – March
- Thursday closed positive with 20 incliner, 15 decliners and 0 flat
The BOTTOM LINE: I try to keep it simple … and short!
The cell and gene therapy sector got whipped down in late trading Thursday after opening to the upside and to the mid-day.
The rush of Q4 and FY22 earnings to release is on … 28 of my 35 covered have reported.
Upcoming Q4 earnings reporting will present challenges to share pricing.
· 2 – today – Avrobio (AVRO) and Solid Biosciences (SLDB)
· Seven (7) more releases forthcoming of my 35 covered companies
· Brainstorm Cell Therapeutics (BCLI) 3/30 - 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 the volume and TRYING to promote the share price!!
Thursday closed up =$0.21 with 331 shares traded after Wednesday's +$0.24 post Tuesday closed flat with 2,085 shares traded after Monday closed down -$0.10 with 498 shares traded, Friday closed up +$0.45 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 and last Tuesday closed down -$0.02 with 5,105 shares traded <3-month average volume = 1,710 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??
· NEW Auditors must consider whether there is substantial doubt about a company’s ability to continue as a going concern, an assessment of the company’s viability over the next year.
· Continuing as an “going concern”!
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.
