April 26, 2023 7:41am
A bounce is needed and due
Q1/23 earnings release today: Sangamo Therapeutics (SGMO) reports
News: Ionis Pharmaceuticals (IONS closed +$0.16 with an aftermarket of +$2.12 or +5.91%) announced that its partner Biogen (BIIB) has received FDA approval of QALSODY™ (tofersen) 100 mg/15mL injection for the treatment of amyotrophic lateral sclerosis (ALS) in adults who have a mutation in the superoxide dismutase 1 (SOD1) gene. Mesoblast Limited (MESO; ASX: MSB) has completed a global private placement primarily to its existing major US, UK, and Australian shareholders raising approximately US$40 million, net of transaction costs, at A$0.85 per share.
Pre-open indications: 6 Positive and 2 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 +0.15% or (+54 points), S&P futures are UP +0.17% or (+7 point) and NASDAQ futures are UP +0.88% or (+111 points) early in the pre-open – so far
U.S. stock futures are fluctuating and then up on Wednesday,
European markets lower,
Asia-Pacific markets were trading 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 …
Indexes slipped Tuesday as the Dow closed DOWN -344.57 points (-1.02%), the S&P closed DOWN -65.41 points (-1.58%) while the Nasdaq closed DOWN -238.05 points (-1.98%)
The Nasdaq is off -3.5%. However, yet the index is up 12.7% in 2023.
Economic Data Docket: durable goods and mortgage purchase data, before getting the latest GDP update Thursday and the Personal Consumption Expenditures Price Index on Friday.
Tuesday’s (4/25) … RegMed Investors’ (RMi) closing bell: “cell and gene therapy sector shillyshallies and then quivers in the worst month in a while.” … https://www.regmedinvestors.com/articles/12931
Ebb and flow:
Q2/23 – 1 holiday, 6 positive close and 10 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 (%)
AxoGen (AXGN) closed down -$0.14 with a positive +$0.36 or +3.90% aftermarket indication.
BioLife Solutions (BLFS) closed down-$1.21 with a positive +$0.87 or +4.80% aftermarket indication.
Compass Therapeutics (CMPX) closed down -$0.27 with a positive +$0.14 or +5.68% pre-open indication.
Intellia Therapeutics (NTLA) closed down -$0.24 with a positive +$0.65 or +1.79% pre-open indication
Ionis Pharmaceuticals (IONS) closed +$0.16 with a positive +$2.12 or +5.91% aftermarket indication that its partner Biogen (BIIB) has received FDA approval of QALSODY™ (tofersen) for the treatment of amyotrophic lateral sclerosis (ALS) in adults
Sage Therapeutics (SAGE) closed up +$0.14 with a positive +$2.06 or +4.35% aftermarket indication.
Negative Indications:
Tuesday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Prime Medicine (PRME) closed down -$0.20 with a negative -$0.61 or -4.73% aftermarket indication.
uniQure NV (QURE) closed down -$0.24 with a negative -$0.39 or -2% 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.”
I am extremely tentative about the performance of our universe as we await the first showing (Sangamo Therapeutics (SGMO) of earnings season.
More frequently right than consequentially wrong … “The rubber is hitting the road, so those companies have to do quite well to justify it.” What is the “it” – upside as LPS (loss-per-share) numbers facilitate downslides.
Investors should be hesitant to add to positions re concerns of electronic trading i.e., algorithms seem to be the only ones leading any upside – go with flow.
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.
