Indication intelligence, analysis and sector perception

RegMed Investors’ (RMi) pre-open: share pricing trouble coming, just a matter of when?

May 1, 2023 7:39am

Earnings: Sage Therapeutics (SAGE), MiMedx (MDXG) - Tuesday, Ionis Pharmaceuticals (IONS), Fate Therapeutics (FATE) - Wednesday, Alnylam Pharmaceuticals (ALNY), Ultragenyx Pharmaceuticals (RARE) and Cellectis SA (CLLS) Thursday

News: On April 28, 2023, Geoff MacKay provided notice of his resignation as President and Chief Executive Officer and a member of the Board of Directors of AVROBIO (AVRO) effective at 1:00 p.m. ET on May 1, 2023.

Pre-open indications: 2 Sell into Strength, 2 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.

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 +0.01% or (+5 points), S&P futures are DOWN -0.02% or (-1 point) and NASDAQ futures are DOWN -0.05% or (-6 points) early in the pre-open – so far

U.S. stock futures hovered around the flatline Monday,

European stocks close higher,

Asia Pacific markets were closed although Japan and Australia both traded higher

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 jumped on Friday as it notched its worst month since January; the Dow closed UP +272.00 points (+0.80%), the S&P closed UP +34.13 points (+0.83%) while the Nasdaq closed UP +84.35 points (+0.69%)

As anticipated, “JPMorgan Chase has acquired all of troubled lender First Republic’s deposits and a “substantial majority of assets,” according to a release. JPMorgan’s shares rose 3% in premarket trading on the news.” <CNBC>

Economic Data Docket: ISM Manufacturing data, construction spending and S&P Global manufacturing PMI on Monday. Lot of EU company holidays (Labor Day)

investors anxiously await the latest rate hike decision from the Federal Reserve, due out Wednesday at the conclusion of the central bank’s policy meeting.

Friday’s (4/28) … RegMed Investors’ (RMi) closing bell: “end of April’s sessions with dented sector sentiment with 1 holiday, 8 positive, 11 negative closes. Glad it’s over, with Q1 LPS (loss-per-share) earnings releases coming up the next phase could begin with an indecisive note.” … https://www.regmedinvestors.com/articles/12937

Ebb and flow:

Q2/23 – May first session

· April ended - 1 holiday, 8 positive close and 11 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

Sell into Strength:

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

Intellia Therapeutics (NTLA) closed up +$1.46 with a positive +$0.09 or +2% pre-open indication

Chinook Therapeutics (KDNY) closed up +$0.64 with a +$0.40 or +2% aftermarket indication.

Positive Indications:

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

Agenus (AGEN) closed up +$0.01 with a positive +$0.04 or +2.65% pre-open indication.

CRISPR Therapeutics (CRSP) closed down -$0.17 with a positive +$0.76 or +1.55% pre-open indication.

Negative Indications:

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

Avrobio (AVRO) closed up +0.1079 with a negative -$0.04 or -4.35% aftermarket indication.

Regenxbio (RGNX) closed up +$0.71 with a negative -$0.10 or -0.52% 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 was extremely tentative about the performance of our universe as we awaited the first showing (Sangamo Therapeutics (SGMO) of earnings season – and NOTHING came out as MY prejudice shows to those who NEGLECT shareholders.

This week’s special, sector earnings start rolling out …

The cell and gene therapy sector was healthy after two (2) upside session but remains "under pressure." Investors need to get beyond earnings to see buying opportunities.

Reiterating, “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” – as LPS (loss-per-share) numbers facilitate downslides.”

The market had a wild week, with the major indexes testing support but ultimately closing with solid gains.

Investors should STILL 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.

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, NEXT 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.

35 companies, 1 interpreter!

Insight, foresight and recommendation

My motto … never leave an investor uninformed! I say today what others won’t, so you can do what others can’t.

My name is Henry McCusker; I endorse these opinions under my own name and with a subscription based membership.

Do you have an opinion you would like to share with us? We would like to hear from you.

Please e-mail us at hwm@regmedinvestors.com.

Editor and Publisher ... Henry McCusker enters his tenth (10th) year at RegMed Investors with past experience in sell-side analysis, buy-side management, corporate management and due diligence.

RegMed Investors (RMi) or Regmedinvestors.com content is the intellectual property of Henry McCusker. Any copying, republication or redistribution of RMI’s content, including by framing or similar means, is expressly prohibited without the prior written consent of Scimitar; who also shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. For additional information on other Scimitar media services or reposting please email hwm@regmedinvestors.com.

The information included above as well as individual companies and/or securities mentioned should be construed as guidance in RMi reviews.

The facts stated and the opinions given in this publication are based on data and information considered to be reliable and have been carefully worked into my qualitative analyses and prognoses. However, no guarantee can be given as to their fairness, accuracy or completeness.

Henry McCusker, the editor and publisher of RegMed Investors does not hold or have positions in securities referred to in this publication.