March 31, 2023 7:13am

The country’s economy is being pulled apart are being pulled apart, recessionary fears, Fed rate increases, political party derision, Trump indictment, bank crisis re failures and inflation and the list could go on. Sooner not later, all these issues are going to collide and create a ripple effect in the capital markets.

Pre-open Indications: 5 Positive Indications and 2 Negative Indications

Earnings: Biostage (OTCQB: BSTG) a FY/22 net loss of -$6.073 M or -$0.54 per share, cash position $1.21 M at year-end and runway until Q2/2023 unless funder in Beijing, China pours in new monies creating a security risk to U.S. <a question>?

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 what will happen behind the headlines today, not tomorrow or yesterday …

 

Dow futures are UP +0.27% or (+88 points), S&P futures are UP +0.18% or (+7 point) and NASDAQ futures are DOWN -0.07% or (-9 points) early in the pre-open – so far

Stock futures rose slightly Friday as traders awaited a key inflation print and got ready to wrap up the Q1/23,

European stock markets were slightly higher,

Asia-Pacific markets traded higher.

 

Henry’omics:

Thursday, indexes rolled, weekly jobless claims increased as investors and depositors tried to forget the collapse of Silicon Valley Bank (SVB) most having “got” their money -- OUT. The Dow closed UP +141.43 points (+0.43%), the S&P closed UP +23.02 points (+0.57%) while the Nasdaq closed UP +87.24 points (+0.73%)

So far, a positive week, the Dow is up 1.93%, the S&P 500 has a 2% gain and the Nasdaq is up 1.6%.

Economic Data Docket: Personal consumption expenditures index, is due to be released at 8:30 a.m. ET on Friday. Economists polled by Dow Jones expect that the core PCE, which excludes energy and food costs, gained 0.4% in February from the prior month and added 4.7% on an annualized basis. Personal income data and consumer spending will also be issued Friday morning. The final March reading of the University of Michigan’s consumer sentiment index is due at 10 a.m. ET.

 

Thursday’s (3/30) … RegMed Investors’ (RMi) closing bell: “the wall of worry has been greased and unable to be climbed. Wednesday’s upside was wiped clean Thursday by diminishing sentiment; as I have stated, “What goes up with ceremony, goes down with disdain” as Q1 comes to a close on Friday (3/31). Is Avrobio (AVRO -$0.0333 to $0.93 after Wednesday’s -$0.08 headed to be de-listed (below the $1.00 requirement of Nasdaq) – again?” … https://www.regmedinvestors.com/articles/12896

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 --- 29 of 35 (my coverage group) added BLUE, BCLI and ADVM

 

Ebb and flow:

Q1/23 –

March – 9 positive and 13 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: trying to be an optimist

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

Beam Therapeutics (BEAM) closed down -$0.87 after Wednesday’s +$0.86, Tuesday’s -$0.38 and Monday’s +$0.15 with a positive +$0.15 or +4.70% aftermarket indication.

Compass Therapeutics (CMPX) closed down -$0.01 with a positive +$0.15 or +4.70% aftermarket indication.

CRISPR Therapeutics (CRSP) closed down -$1.02 after Wednesday’s +$1.33, Tuesday’s -$0.50, Monday’s +$0.92 and last Friday’s +$0.29, with a positive +$0.63 or +1.43% pre-open indication

Intellia Therapeutics (NTLA) closed down -$1.54 with a +$0.76 or +2.11% pre-open indication.

Prime Medicine (PRME) closed down -$0.25 with a positive +$0.59 or 4.80% aftermarket indication.

 

Negative indications:

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

Alnylam Pharmaceuticals (ALNY) closed down -$0.79 with a negative -$6.88 or -3.53% aftermarket indication.

uniQure NV (QURE) closed down -$0.41 with a negative -$0.40 or -2.02% aftermarket indication

 

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

I hate economic releases, especially those (February PCE price index) that have crippled markets re inflation …

·         There is an expectation the PCE inflation rate will <possibly> cool slightly to 5.1% from January's 5.4%. But core PCE inflation is likely to hold at 4.7%.

·         The PCE inflation data is part of the monthly income and spending report. Personal income should rise 0.3% after January's 0.6% gain. Spending should edge up 0.2% after jumping 1.8% in January. <IBD>

·         The Fed has long favored the PCE inflation data over the consumer price index.

After a hard hit, it’s time to step up as there are some short-term share pricing BOUNCE plays (some last a session or even two).

I believe investors could PLAY some sector equities as algorithms will want to trounce but, there is NO surety.

A SUSTAINABLE uptrend is needed to get credibility BACK into the sector’s investment.

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 …

·         ADVM, BCLI and Biostage (OTCQB: BSTG) reported on Thursday

·         31 of my 35 covered have reported - 4 remaining

·         Waiting for remaining release 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.