May 8, 2023 7:26am
After last Monday, Wednesday through Friday’s sector rally
Earnings this week: AxoGen (AXGN), bluebird bio (BLUE), CRISPR Therapeutics (VRSP), Voyager Therapeutics (VYGR) and Agenus (AGEN) on Tuesday. Vericel (VCEL), BioLife Solutions (BLFS) and Precigen (PGEN) on Wednesday
Pre-open indications: 1 Sell into Strength, 1 Positive and 2 Negative indications
My interpretation of the morning’s numbers is written to be informative; it’s built on what happened or will happen behind the headline today, not tomorrow or yesterday.
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 +0.21% or (+71 points), S&P futures are UP +0.17% or (+7 point) and NASDAQ futures are UP +0.03% or (+3 points) early in the pre-open – so far
U.S. stock futures were mixed on Monday,
European indexes started the week flat,
Asia-Pacific markets largely rose
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 …
Friday, indexes closed up after economy added 253,000 jobs in April; having expected 180,000 new jobs.
The Dow added 546.64 points, or 1.65%, ending the week 1.24% lower. The S&P 500 climbed +75.03 or 1.85% shedding 0.8% in the week while the Nasdaq advanced 269.01 or 2.25%, closing at 12,235.41 having inched up 0.07% this week.
Economic Data Docket: April’s consumer price index due out Wednesday, followed by the producer price index on Thursday.
Friday’s (5/5) … RegMed Investors’ (RMi) closing bell: “sentiment is overstretched yet, a solid Friday upside response. Will wonders ever cease as the cell and gene therapy sector with three (3) positive sector closings in a row jumping in tandem with the Dow, S&P and Nasdaq?” … https://www.regmedinvestors.com/articles/12947
Ebb and flow:
Q2/23 – May – 1 negative and 4 positive closes
· 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
Positive Indications:
Friday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Prime Medicine (PRME) closed down -$0.80 with a positive +$0.64 or +4.47% aftermarket indication.
Sell into Strength Indications:
Friday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)
CRISPR Therapeutics (CRSP) closed up +$2.57 with a positive $0.21 or +0.38%pre-open indication.
Negative Indication:
Friday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Ionis Pharmaceuticals (IONS) closed up +$0.22 after Thursday’s +$1.25 and Q1/23 earnings with a negative -$0.86 or -2.38% 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.”
As I stated Friday, I wouldn’t buy into this “relief” rally, I’d be selling” after Friday rallied despite the stronger-than-expected jobs numbers for April that probably will not last.
This week’s special, sector earnings continue rolling out … NOT a single NET INCOME to date yet, 13 net losses.
Could the cell and gene therapy sector could experience the “flight of Icarus” … since “our” universe have oscillated between gains and losses since the first of 2023!
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.”
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, 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.
