April 19, 2023 7:37am

Investing time frames are further stunted as Q1/23 earnings cycle appears on the horizon

Pre-open indications: 2 Positive and 3 Negative Indications

Q1/23 Earnings: Sage Therapeutics (SAGE), MiMedx (MDXG) reports Tuesday - 5/2 and AxoGen (AXGN) Tuesday - 5/9

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 -0.36% or (-122 points), S&P futures are DOWN -0.51% or (-21 point) and NASDAQ futures are DOWN -0.80% or (-107points) early in the pre-open – so far

Stock futures were mostly down,

Europe stock markets were lower,

Asia Pacific markets were mixed

 

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 …

Last night, indexes pooped the bed (the S&P was barely up) dragged lower by declines from Johnson & Johnson (JNJ) and other healthcare stocks. <me> The Dow closed DOWN -10.55 points (-0.03%), the S&P closed UP +3.54 points (+0.09%) while the Nasdaq closed DOWN -4.31 points (-0.04%)

“Today’s (Tuesday) mood is about profitability concerns [which] may have been overdone for the quarter, but Fed tightening fears won’t be going away anytime soon.” <Ed Moya, senior market analyst at Oanda>

Economic Data Docket: Meeting minutes from the Federal Open Market Committee now model a mild recession beginning later this year.

 

Tuesday’s (4/18) … RegMed Investors’ (RMi) closing bell: I defined support in morning post, which was negated by resistance enhancing less willingness to buy. Resistance was identified, as pricing reached a point of sentiment confrontation, it will do one of two things: bounce away from the support levels – it did, or violate the price level and continue in its decline direction – it also did.” … https://www.regmedinvestors.com/articles/12920

 

Ebb and flow:

Q2/23 – 1 holiday, 4 positive close and 7 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:

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

Beam Therapeutics (BEAM) closed down -$0.75 after Tuesday’s -$0.97 after Friday’s +$0.82 with a positive +$0.40 or +1.29% pre-open indication,

Ionis Pharmaceuticals (IONS) closed down -$1.40 after Monday’s +$0.78, Friday’s -$0.56 and last Thursday’s +$0.97 with a positive +$0.04 or +0.11% aftermarket indication,

 

Negative Indications:

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

CRISPR Therapeutics CRSP) closed -$2.27 after Monday’s +$3.98, Friday’s -$0.25 and Thursday’s +$7.09 with a negative -$0.32 or -0.62% pre-open indication

Intellia Therapeutics (NTLA) closed down -$1.46 after Monday’s +$1.09, Friday’s -$0.95 and Thursday’s +$4.53 with a negative -$0.13 or -0.34% pre-open indication

Verve Therapeutics (VERV) closed up +$0.12 after Tuesday’s +$0.74 with a negative -$0.50 or -3.14% pre-open 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.”

I believe the cell and gene therapy sector will continue to trade sideways, spotty with some down.

Sector breadth has been less impressive on the Nasdaq; it is STILL a tug of war between sentiment and conviction

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; I can always be WRONG but, I am mostly EARLY!

At ANY time, this week, be ready to take partial profits and exit losers.

 

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.