April 12, 2023 4:41pm
Tight ranges, stunted sentiment, lethargic direction and wanting confidence inhabit the cell and gene therapy sector triggering the sector’s trip and fall
Pre-open Indications: 4 Hits and 1 Miss
Avrobio (AVRO) closed down Wednesday -$0.06 to $0.89 after Tuesday’s +$0.04 on low volume – still under Nasdaq minimum rule of $1.00; will it revisit the de-listing status after seven (7) downside sessions?
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.
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 DOWN -38.29 points (-0.11%), the S&P closed DOWN -16.99 points (-0.41%) while the Nasdaq closed DOWN -102.54 points (-0.85%)
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 rose and then split to the downside on Wednesday after the release of cooler-than-expected CPI data.
Inflation is still running well above the Fed's 2% target, causing market angst while the Fed looks at hiking to slow inflation.
“U.S. consumer prices barely rose as the cost of gasoline declined 4.6%, but stubbornly high rents kept underlying inflation simmering, likely ensuring that the Fed will raise interest rates after policymakers meet on May 2-3. <Reuters>
Economic Data Docket: The March consumer price index showed a rise of 0.1% in March. Economists were expecting CPI to rise by 0.2% month over month.
· Core CPI, which excludes volatile food and energy components, rising 5.6% after a 5.5% rise in February, markets were leaning towards further tightening.
Wednesday (4/12) … RegMed Investors’ (RMi) pre-open: “CPI, or should we consider it crisis prevention and intervention. Actually, a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.” … https://www.regmedinvestors.com/articles/12911
Pre-open Indications: 4 Hits <Avrobio (AVRO -$0.06), Beam Therapeutics (BEAM -$0.34), BioLife Solutions (BLFS +$0.52), Ultragenyx (RARE -$0.94)> and 1 Miss < Prime Medicine (PRME -$0.26),
RegMed/Stem/Cell and Gene Therapy’s 35 covered equities’ Advance/Decline (A/D) lines: what happened – differences
- Wednesday’s advance/decline line opened positive at 18 up/ 15 down and 2 flats, flipped neutral with 17 up/ 17 down and 1 flat at the mid-day, ending with a negative close of 7/27 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 down -0.11% and the XBI was down -1.08%
The CBOE Volatility Index (VVIX: INDEX) tracked:
- Wednesday was up +0.13 points or +0.68% at 19.23
Closing Down (10 of 27):
- CRISPR Therapeutics (CRSP -$1.94 after Tuesday’s +$0.32),
- Ultragenyx (RARE -$0.94 after Tuesday’s +$1.08 after Monday’s -$2.26),
- Intellia Therapeutics (NTLA -$0.73 after Tuesday’s +$0.35 after Monday’s -$1.00),
- Ionis Pharmaceuticals (IONS -$0.64 after Tuesday’s +$0.32 after Monday’s -$0.36),
- Sage Therapeutics (SAGE -$0.51 after Tuesday’s +$1.90),
- Vericel (VCEL -$0.49 after Tuesday’s +$0.23 after Monday’s +$0.42),
- Editas Medicine (EDIT -$0.35),
- Beam Therapeutics (BEAM -$0.34),
- Verve Therapeutics (VERV -$0.30 after Tuesday’s +$0.35 after Monday’s +$0.05),
- uniQure NV (QURE -$0.29 after Tuesday’s -$0.20 after Monday’s -$0.60),
Flat (1):
- Adverum Biotechnologies (ADVM)
Closing Up (7 of 7):
- Chinook Therapeutics (KDNY +$0.57 after Tuesday’s -$1.22 after Monday’s -$0.52),
- BioLife Solutions (BLFS +$0.52),
- Solid Biosciences (SLDB +$0.41),
- Alnylam Pharmaceuticals (ALNY +$0.08 after Tuesday’s -$2.63 after Monday’s -$5.45),
- Cellectis SA (CLLS +$0.04),
- Bellicum Pharmaceuticals (BLCM +$0.0061 after Tuesday’s -$0.005)
Q2/23 – April
- Wednesday closed negative with 7 incliner, 27 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.”
It seems investors are hesitant to add to positions re concerns of persisted inflation.
Minutes from the Fed’s March policy meeting are also due out today, and slated to offer further clues into the mindset behind the central bank’s 25 basis point hike in the wake of Silicon Valley Bank’s (SVB) collapse and depositor turmoil that flustered the banking sector.
April is typically a good month as investors look to the Q2 and move past tax season, among other reasons. It has 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.
· 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!!
OTCQB: BSTG closed Wednesday -$0.05 with 101 shares traded after Tuesday $0.00 with 108 shares traded and Monday’s down -$0.07 with 200 shares traded <3-month average =1,821 shares>
· 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??
· Notice the new director, Ron Packard, MATCH his background to the new Chairman and CEO – education buddies (different companies each in ed field – independent director?
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.
