April 6, 2023 4:58pm

Although what’s in store as weakening labor market fuels fears of an economic downturn on the horizon?

Pre-open Indications: 3 Hits and 0 Miss

Happy Easter and Chag Pesach Sameach extended weekends

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 +2.57 points (+0.01%), the S&P closed UP +14.64 points (+0.36%) while the Nasdaq closed UP +91.10 points (+0.76%)

 

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 drown in the downside wrapping-up a difficult and short trading week as weak job data fuels recession fears:

An illuminating quote, “The market remained volatile as the latest weekly jobless claims came in higher than expected, adding to recent signals that pointed to slowing job growth. The expansion in private payrolls was well below expectations in March, ADP said earlier this week. Meanwhile, the number of available positions fell below 10 million in February — a first in almost two years. Job cuts have also soared by nearly fivefold so far this year from a year ago.” <CNBC>

Economic Data Docket: The expansion in private payrolls was well below expectations in March, ADP said earlier this week. Meanwhile, the number of available positions fell below 10 million in February — a first in almost two years. Job cuts have also soared by nearly fivefold so far this year from a year ago.

·         Investors will still closely monitor March jobs report Friday morning. Nonfarm payrolls have been showing solid growth despite layoffs across tech and financial sectors, but many believe the trend is poised to reverse soon.

 

RegMed Investors’ (RMi) pre-open: “Thursday will cap off a shortened trading week with the market closed for Good Friday. The market seems to be more hung-up with macro-economic data concern than with healthcare equities.” …  https://www.regmedinvestors.com/articles/12905

 

Pre-open Indications: 3 Hits < Alnylam Pharmaceuticals (ALNY +$10.97), Beam Therapeutics (BEAM +$0.42), Voyager Therapeutics (VYGR +$0.29)> and 0 Miss

 

RegMed/Stem/Cell and Gene Therapy’s 35 covered equities’ Advance/Decline (A/D) lines: what happened – differences

  • Thursday’s advance/decline line opened negative at 13 up/ 17 down and 4 flats, turned positive at 11 a.m. with 20 up/ 14 down and 1 flat, stayed positive with 22 up/ 11 down and 2 flats at the mid-day, ending with a positive close of 27/7 and 1 flat
  • 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
  • Tuesday’s advance/decline line opened negative at 5 up/ 28 down and 2 flats, stayed negative with 5 up/ 28 down and 2 flats at the mid-day, ending with a negative close of 5/28 and 2 flat
  •  
  • Monday’s advance/decline line opened negative at 16 up/ 19 down and 1 flat, stayed negative with 14 up/ 21 down and 0 flat at the mid-day, ending with a negative close of 16/19 and 0 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:

  • Thursday, the IBB was up +1.19% and the XBI was up +2.01%
  • Wednesday, the IBB was up +0.50% and the XBI was down -0.21%
  • Tuesday, the IBB was down -0.70% and the XBI was down -1.91%
  • Monday, the IBB was up +0.47% and the XBI was up +1.13%

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Thursday was down -0.63 points or =-3.30% at 18.45
  • Wednesday was up +0.03 points or +0.16% at 19.03
  • Tuesday was up+0.58 points or +3.13% at 19.13
  • Monday was down -0.07 points or -0.37% at 18.63

 

Closing Down (7 of 7):

  • Chinook Therapeutics (KDNY -$0.17),
  • Biostage (OTCQB: BSTG -$0.05 after Wednesday’s+$0.02, Tuesday’s $0.00 and Monday’s -$0.27)
  • Adverum Biotechnologies (ADVM -$0.041 after Wednesday’s +$0.022 and Tuesday’s +$0.0072)
  • Caribou Therapeutics (CRBU -$0.04 after Wednesday’s +$0.12),
  • Sangamo Therapeutics (SGMO -$0.04 after Wednesday’s +$0.03 and Tuesday’s +$0.005)
  • Verastem (VSTM -$0.0259 after Wednesday’s +$0.073),
  • Brainstorm Cell Therapeutics (BCLI -$0.01 after Wednesday’s +$0.15),

FLAT (1):

  • Cellectis SA (CLLS)

Closing Up (10 of 27):

  • Alnylam Pharmaceuticals (ALNY +$10.17 after Wednesday’s -$1.88, Tuesday’s +$2.00 and Monday’s +$0.38)
  • Vericel VCEL +$1.08),
  • Ultragenyx (RARE +$0.87 after Wednesday’s -$1.40),
  • Sage Therapeutics (SAGE +$0.82 after Wednesday’s +$0.02, Tuesday’s -$1.54 and Monday’s +$0.23),
  • Ionis Pharmaceuticals (IONS +$ after Wednesday’s +$1.24
  • CRISPR Therapeutics (CRSP +$ after Wednesday’s +$1.09 and Tuesday’s -$1.57),
  • Prime Medicine (PRME +$0.57 after Wednesday’s -$0.23, Tuesday’s -$0.35 and Monday’s -$0.31),
  • Beam therapeutics (BEAM +$0.42)
  • BioLife Solutions (BLFS +$0.36 after Wednesday’s -$0.44 and Tuesday’s +$0.08),
  • Fate Therapeutics (FATE +$),

 

Q2/23 – April

  • Friday – market will be closed for Good Friday
  • Thursday closed positive with 27 incliner, 7 decliners and 1 flat
  • Wednesday closed negative with 13 incliner, 21 decliners and 1 flat
  • Tuesday closed negative with 5 incliner, 28 decliners and 2 flats
  • Monday closed negative with 16 incliner, 19 decliners and 0 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.”

The SAVE came in, as the algos and electronic trader added some share pricing upside without much volume expenditure.

The cell and gene therapy sector – I-Bank ANALTSTS - need 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 (accepted as a development company in most cases) and pessimism about future growth."

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!!

·         Did FINANCE happen with US investors – NO mention, possibly ALL …. Beijing, China money. What analysts are following the company? - NONE

·         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??

 

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.