March 29, 2023 7:14am
Is Avrobio (AVRO) headed to be de-listed (below the $1.00 requirement of Nasdaq) – again?
Pre-open Indications: 2 Positive Indications and 2 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 UP +0.75% or (+245 points), S&P futures are UP +0.89% or (+35 point) and NASDAQ futures are UP +0.86% or (+109 points) early in the pre-open – so far
U.S. stock futures rose Wednesday,
European stock markets were higher,
Asia-Pacific markets were mostly higher.
Henry’omics:
“U.S. stock index futures climbed on Wednesday as easing worries about a banking crisis lifted risk sentiment, while investors awaited economic data to assess the Federal Reserve's monetary policy path.” <Reuters>
Indexes had floated down as the session wore on as worries about the crisis among U.S. regional banks; while the Dow closed DOWN -37.83 points (-0.12%), the S&P closed DOWN -6.26 points (-0.16%) while the Nasdaq closed DOWN -52.76 points (-0.45%)
Telling quote, “When you dig beneath the headline, it’s a little weaker than the headline suggests. So, for instance, if you break up the Nasdaq into quintiles, only the top quintile is up; all four of the other quintiles are down.” <Solus Alternative Asset Management’s Dan Greenhau >
Economic Data Docket: pending home sales data
Thursday’s (3/27) … RegMed Investors’ (RMi) closing bell: “RegMed Investors’ (RMi) closing bell: a betrayal of the cell and gene therapy sector’s loyalty from Silicon Valley Bank (SVB) affected its depositors, what warning was there? Fed Vice-Chair Michael Barr addressed the House Financial Services Committee about the Silicon Valley Bank (SVB) bank failure in prepared comments. "The bank waited too long to address its problems, and ironically, the overdue actions it finally took to strengthen its balance sheet sparked the uninsured depositor run that led to the bank's failure. Who has taken responsibility; accountability is the responsibility of executives and relationship bankers … were they all automatons, robots, androids or just drinking the in-house Kool-Aid?” … https://www.regmedinvestors.com/articles/12892
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 --- 28 of 35 (my coverage group)
Ebb and flow:
Q1/23 –
March – 8 positive and 12 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
Positive indications:
Tuesday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)
CRISPR Therapeutics (CRSP) closed down -$0.50 after Monday’s +$0.92 after Friday’s +$0.29, Thursday’s -$0.40, Wednesday’s +$1.52 and last Tuesday’s +$0.60 with a positive +$0.65 or +1.48% pre-open indication
Beam Therapeutics (BEAM) closed down -$0.38 after Monday’s +$0.15 with a positive +$0.56 or +1.86% aftermarket indication
Negative indications:
Tuesday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Ultragenyx (RARE) closed up +$0.33 with a negative -$1.13 or -3% aftermarket indication.
Ionis Pharmaceuticals (IONS) closed up +$0.57 after Monday’s -$0.23 with a negative -$0.04 or -0.12% aftermarket indication
The BOTTOM LINE: I try to keep it simple and short!
Reiterating, “We are in … for a volatile ride until … up and down … as the cell and gene therapy companies who banked with SVB have exited or gained control … of their own deposits/monies.”
The market and sector are in correction, even though the sector was up on Monday, then down on Tuesday; investors should be on the sidelines (for any NEW buys) until a follow-through session (Friday was Thursday follow-through) while Monday broke the chain.
I do NOT – it might come but, will it last … I believe half-hearty that there is a down side trigger to yet another … SUSTAINABLE uptrend.
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!
Also, the rush of Q4 and FY22 earnings to release is slowing …
· 28 of my 35 covered have reported - 7 remaining
Waiting for announcements …
· Brainstorm Cell Therapeutics (BCLI) 3/30 - Thursday
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.
