April 5, 2023 4:44pm
I am contemplating a share pricing ascension due to being grossly oversold as weakening economics reign
Pre-open Indications: 2 Hits and 3 Miss <no rhyme or reason>
The De-listing Continuum: Avrobio (AVRO) closed down again -$0.0409 after Tuesday’s -$0.034 and Monday’s -$0.02 with a more than possible return of being de-listed (Nasdaq’s $1.00 minimum rule)
indexes have been volatile while breadth has narrowed and sector appeared absent of sentiment and conviction
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 +80.34 points (+0.24%), the S&P closed DOWN -10.22 points (-0.25%) while the Nasdaq closed DOWN -129.46 points (-1.07%)
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 …
The Dow pops, the S&P and Nasdaq dump on Wednesday and headed for a third-straight losing session as investors identify that the U.S. economy is weakening.
Equities rose during the first quarter but remain well below their all-time highs.
Economic Data Docket: Weak economic data deepened worries that the rapid interest rate hikes by the Federal Reserve may tip the U.S. economy into a recession.
· U.S. service sector slows in March; inflation cools showing the services sector slowed more than expected last month on cooling demand, while a measure of prices paid by services businesses fell to a near three-year low.
· March private payrolls miss estimates showing U.S. private employers hired far fewer workers than expected in March, adding to signs of a cooling labor market, following Tuesday's weak job openings data.
RegMed Investors’ (RMi) pre-open: “lookin’ for love, the cell and gene therapy sector even welcomes any algos. 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.” … https://www.regmedinvestors.com/articles/12903
Pre-open Indications: 2 Hits < CRISPR Therapeutics (CRSP +$1.09), Cellectis SA (CLLS +$0.00)> and 3 Miss < Voyager Therapeutics (VYGR $0.01, Intellia Therapeutics (NTLA -$0.39), Prime Medicine (PRME -$0.23)>
RegMed/Stem/Cell and Gene Therapy’s 35 covered equities’ Advance/Decline (A/D) lines: what happened – differences
- Wednesday’s advance/decline line opened negative at 11 up/ 22 down and 2 flats, stayed negative with 10 up/ 22 down and 3 flats at the mid-day, ending with a negative close of 13/21 and 1 flat
RegMed Investors (RMi) Research Note: Q4 and FY22 earnings reporting … https://www.regmedinvestors.com/articles/12843 - 31 of 35 – added BCLI, ADVM, BLUE and BSTG
Key Metrics:
The iShares NASDAQ Biotechnology (IBB) and the SPDR S&P ETF (XBI) indicators:
- Wednesday, the IBB was up +0.50% and the XBI was down -0.21%
The CBOE Volatility Index (VVIX: INDEX) tracked:
- Wednesday was up +0.03 points or +0.16% at 19.03
Closing Down (10 of 21):
- Alnylam Pharmaceuticals (ALNY -$1.88 after Tuesday’s +$2.00 and Monday’s +$0.38),
- Ultragenyx (RARE -$1.40),
- Regenxbio (+$0.95),
- BioLife Solutions (BLFS -$0.44 after Tuesday’s +$0.08),
- uniQure NV (QURE -$0.43 after Tuesday’s -$0.35),
- Intellia Therapeutics (NTLA -$0.39 after Tuesday’s -$0.91 and Monday’s -$0.18),
- Beam Therapeutics (BEAM -$0.25 after Tuesday’s -$0.56 and Monday’s -$0.49),
- Prime Medicine (PRME -$0.23 after Tuesday’s -$0.35 and Monday’s -$0.31),
- Editas Medicine (EDIT -$0.12),
- Solid Biosciences (SLDB -$0.09),
Flat (1):
- Cellectis SA (CLLS)
Closing Up (13 of 13):
- Ionis Pharmaceuticals (IONS +$1.24),
- CRISPR Therapeutics (CRSP+$1.09 after Tuesday’s -$1.57),
- Compass Therapeutics (CMPX +$0.15),
- Brainstorm Cell Therapeutics (BCLI +$0.15),
- Caribou Therapeutics (CRBU +$0.12),
- Verastem (VSTM +$0.073),
- MiMedx (MDXG +$0.06),
- Mesoblast (MESO +$0.04),
- Sangamo Therapeutics (SGMO +$0.03 after Tuesday’s +$0.005)
- Adverum Biotechnologies (ADVM +$0.022 after Tuesday’s +$0.0072)
- Sage Therapeutics (SAGE +$0.02 after Tuesday’s -$1.54 and Monday’s +$0.23),
- Biostage (OTCQB: BSTG +$0.02 after Tuesday’s $0.00 and Monday’s -$0.27)
- AxoGen (AXGN +$0.01 after Tuesday’s +$0.29),
Q2/23 – April
- Wednesday closed negative with 13 incliner, 21 decliners and 1 flat
The BOTTOM LINE: I try to keep it simple … and short!
I follow the dictum, quoting Churchill that “short words are best, and the old words when short are best of all.”
Persistent weakness encompasses the sector …
The cell and gene therapy sector – I-Bank ANALTSTS - needs to re-jigger valuation models, that's what I have saying ... we need analysts to get back to “current” reality when it comes to share pricing dismal earnings and pessimism about future growth."
The Nasdaq recorded 23 new highs and 185 new lows with the timing of share pricing advances has been inopportune since the Silicon Valley Bank (SVB) decline and follow-on depositor turmoil.
The news does not leave the headlines of yesterday was more focused on X-President Trump’s Day in court in NYC, NY – a BAD joke of infinite proportion!
April is typically a good month as investors look to the Q2 and move past tax season, among other reasons. It’s historically been the second-best month of the year for the S&P 500 and fourth best for the Nasdaq.
The rush of Q4 and FY22 earnings to release has slowed as … 31 of my 35 covered have reported.
· Brainstorm Cell Therapeutics (BCLI – FY22 only), Adverum Biotechnologies (ADVM Q4 and FY22) and Biostage (OTCQB: BSTG – FY22 only) reported losses last week,
· Four (4) more releases forthcoming 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.
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 to promote the share price!!
Wednesday closed up +$0.02 with 608 shares traded after Tuesday closed flat with 88 shares traded, Monday closed down -$0.27 with 2,148 shares traded, Friday closed up +$0.30 with 1,583 shares traded, Thursday closed up +$0.05 with 2,298 shares traded and last Wednesday closed up +$0.16 with 1,200 shares traded <3-month average volume = 1,767 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??
· Where is the SEC??
· NEW Auditors STILL DETERMINED there is substantial doubt about the company’s ability to continue, an assessment of the company’s viability over the next year.
· As OTCQB: BSTG continues as an “going concern”!
· In the title, says it all: loss, losses and more losses – with NO capacity to FINANCE with US investors – example, what analysts are following the company? - NONE
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.
