April 20, 2023 7:26am
Sector share pricing is being kept in a paddock while some equites are being exercised
Pre-open indications: 2 Positive and 6 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.
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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 -0.41% or (-137 points), S&P futures are DOWN -0.66% or (-27 point) and NASDAQ futures are DOWN -0.90% or (-118 points) early in the pre-open – so far
Stock futures are falling on Thursday,
European stock markets are lower;
Asia Pacific markets are 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 closed mixed after closing “barely” being down and up while hopscotching back and forth. The Dow closed DOWN -79.62 points (-0.23%), the S&P closed DOWN -0.35 points (-0.01%) while the Nasdaq closed UP +3.81 points (+0.03%)”. <me>
Economic Data Docket: jobless claims and existing home sales. Federal Reserve Governor Christopher Waller, Atlanta Fed President Bostic and Cleveland Fed President Mester are among central bank speakers slated to give remarks on the economy around in the country in the afternoon and evening.
Wednesday’s (4/19) … RegMed Investors’ (RMi) closing bell: “algorithms recognized the oversold; but, what about investors who I believe sit on the sidelines or sell?” … https://www.regmedinvestors.com/articles/12922
Ebb and flow:
Q2/23 – 1 holiday, 5 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:
Wednesday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Ionis Pharmaceuticals (IONS) closed up +$0.35 after Tuesday’s -$1.40, Monday’s +$0.78, Friday’s -$0.56 and last Thursday’s +$0.97 with a positive +$0.50 or +1.36% aftermarket indication,
Voyager Therapeutics (VYGR) closed up +$0.09 with a positive +$0.31 or +3.92% aftermarket indication
Negative Indications:
Wednesday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Verve Therapeutics (VERV) closed up +$0.21 after Tuesday’s +$0.12 after Monday’s +$0.74 with a negative -$0.30 or -1.86% aftermarket indication,
Beam Therapeutics (BEAM) closed up +$0.34 after Tuesday’s -$0.75 after Monday’s -$0.97 and Friday’s +$0.82 with a negative -$0.33 or -1.05% aftermarket indication,
CRISPR Therapeutics CRSP) closed up +$1.56 after Tuesday’s -$2.27, Monday’s +$3.98, Friday’s -$0.25 and last Thursday’s +$7.09 with a negative -$1.48 or -2.77% pre-open indication,
Intellia Therapeutics (NTLA) closed down -$0.13 after Tuesday’s -$1.46, Monday’s +$1.09, Friday’s -$0.95 and last Thursday’s +$4.53 with a negative -$0.30 or -0.80% pre-open indication,
Ultragenyx (RARE) closed up =$0.91 with a negative -$0.14 or -0.33% aftermarket indication,
Vericel (VCEL) closed up +$0.63 with a negative -$0.44 or -1.40% 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.”
Investor focus will now shift to Q1 earnings season. Investors are hesitant to add to positions re concerns of persisted inflation while electronic trading i.e., algorithms are the only ones to lead the upside.
· Upside potential and sustainability of pricing changes followed by upcoming earnings LPS (loss-per-share) expectation will mostly depend on macroeconomic business conditions, it's NOT worth handicapping the probability of ANY positive EPS surprise.
· Investor focus will now shift to Q1 earnings season. Investors are hesitant to add to positions re concerns of persisted inflation while electronic trading i.e., algorithms are the only ones to lead the upside.
I STILL 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 ... CURRENT 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.
