April 5, 2023 7:25am

A quick sweep of the oversold could rebalance the sector post Silicon Valley Bank’s (SVB) shook and awe demise; then look to bolt the dramatic upside or those considered overbought

Pre-open Indications: 3 Positive Indications and 2 Negative Indications

Avrobio (AVRO) continues to dive (-$0.034 after Monday’s -$0.02) with a more than possible return of being de-listed (Nasdaq’s $1.00 minimum rule)

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 DOWN -0.05% or (-17 points), S&P futures are Down -0.10% or (-4 point) and NASDAQ futures are DOWN -0.10% or (-13 points) early in the pre-open – so far

U.S. stock futures were lower and weak on Wednesday,

European markets lower,

Asia Pacific markets mixed; New Zealand hikes interest rate by 50 basis points in a surprise move.

 

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 …

Tuesday, the Dow dived -198.77 points (-0.59%), the S&P 500 fell -23.91 (-0.58%), and the Nasdaq dropped -63.13 (-0.52%).

Economic Data Docket: ADP private payrolls report, economists are expecting a rise of 210,000 jobs in March, down from an increase of 242,000 in the previous month. The ISM Services Index will also be released, economists are forecasting a reading of 54.3, down from 55.1 in the previous release.

 

Tuesday’s (4/4) … RegMed Investors’ (RMi) closing bell: “the pain trade. It’s nice to be RIGHT, yet again about the direction of the sector as I DEVOTE a HUGE amount of time to discern the geography of my coverage group. A big outflow of share pricing as slowing economy, JOLTS and weak factory orders help to crash indexes.” …  https://www.regmedinvestors.com/articles/12902

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 --- 31 of 35 (my coverage group) added BLUE, BCLI, OTCQB: BSTG and ADVM

 

Ebb and flow:

Q2/23 – 2 negative closes

Q1/23 –

·         March – ended with 10 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

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

CRISPR Therapeutics (CRSP) closed down -$1.57 with a positive +$0.28 or +0.64% pre-open indication.

Intellia Therapeutics (NTLA) closed down -$0.91 after Monday’s -$0.18, Friday’s +$1.25 and Thursday’s -$1.54 with a positive +0.54 or +1.49% pre-open indication.

Prime Medicine (PRME) closed down -$0.35 after Monday’s -$0.31 with a positive +$0.05 or +1.55% aftermarket indication.

 

Negative indications:

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

Cellectis SA (CLLS) closed down -$0.04 with a post news of entering into warrant agreement with the European Investment Bank (EIB) for up to €40 M euros related to credit facility agreement and announces the drawdown of the first tranche of €20 M with NO pre-open indication.

Voyager Therapeutics (VYGR) closed down -$0.41 after Monday’s +$0.41 with a negative -$0.05 or -0.65% aftermarket indication

 

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

Recessionary scares have been depriving the cell and gene therapy sector of appreciation.

Electronic trading and algorithms will be lusting for the oversold, maybe not immediately.

Reiterating, “A SUSTAINABLE uptrend is needed to get credibility BACK into the sector’s investment”

April showers did NOT quite bring... a strong sector first trading session advance as remnants of fear continue to inhabit markets; although, expectation is still up in the air hoping to appear within new sessions of April

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 …

·         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.