April 11, 2023 7:23am

March inflation reports are a’comin

Pre-open Indications: 1 Positive and 4 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 what will happen behind the headlines today, not tomorrow or yesterday …

 

Dow futures are UP +0.13% or (+43 points), S&P futures are UP +0.18% or (+7 point) and NASDAQ futures are UP +0.14% or (+18 points) early in the pre-open – so far

U.S. stock futures are up on Tuesday,

European markets are higher

Asia-Pacific markets mostly rose

 

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 rose and S&P barely moved although rose on Monday followed by the Nasdaq as the Dow closed up +101.23 points (+0.30%), the S&P closed UP +4.09 points (+0.10%) while the Nasdaq closed DOWN -3.60 points (-0.03%).

Markets are likely to key on tomorrow's March CPI data following a surprise jump in inflation expectations, reported as part of the New York Fed's monthly survey, during yesterday's session. <The Street>

Economic Data Docket: The National Federation of Independent Business will be issuing the latest results of its small business index before the market opens

 

Monday’s (4/10) … RegMed Investors’ (RMi) closing bell: “sector hops back on the spinning tea cup amusement rides; but I am not entertained. The week ahead, uncertainty around economic data which seems to strike conviction from sector share pricing.” … https://www.regmedinvestors.com/articles/12908

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)

 

Ebb and flow:

Q2/23 – 1 holiday, 1 positive close and 4 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 Indication:

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

Avrobio (AVRO) closed down -$0.06 with a positive +$0.14 or +15.38% aftermarket indication,

 

Negative indications:

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

Fate Therapeutics (FATE) closed down -$0.37 after Thursday’s +$0.35 with a negative -$0.16 or -2.92% pre-open indication.

AxoGen (AXGN) closed up +$0.17 with a negative -$0.20 or -1.99% aftermarket indication.

Beam Therapeutics (BEAM) closed up +$0.35 after Thursday’s +$0.42 and Wednesday’s -$0.25 with a negative -$0.09 or -0.30% pre-open indication.

Chinook Therapeutics (KDNY) closed down -$0.52 with a negative -$0.45 or -2.08% aftermarket indication

 

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.”

It is just not working for cell and gene therapy equities.

Investors seemed to be preparing by dumping equities for the March readings of the consumer price index, due Wednesday, and the producer price index, out Thursday.

Reiterating, “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 …

·         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.