June 5, 2023 4:55pm

What’s next hinges on the Fed’s formula for bringing down inflation

Pre-open Indications: 0 Hit and 3 Miss

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If I have learned one thing as a former research analyst in a venture and public fund, operating executive, adjunct (MBA) business school professor now a journalist; it is that your life and your portfolio are largely tied to your knowledge of price movements and questioning pricing targets.

 

The Dow closed DOWN -199.90 points (-0.59%), the S&P closed DOWN -8.58 points (-0.20%) while the Nasdaq closed DOWN -11.34 points (-0.09%)

 

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.

Monday, indexes dove as the market and cell and gene therapy stocks struggled amid BIO’s Boston conference and the World Stem Cell in Winston-Salem kicked off.

 

Monday (6/5) … RegMed Investors’ (RMi) pre-open: “are we back to what? Post debt ceiling headed to Fed rate uplift or not? Do rising number of leading indicators that indicate a recession coming soon, a question on a question?” … https://www.regmedinvestors.com/articles/12987

 

Pre-open Indications: 0 Hit and 3 Miss < Beam Therapeutics (BEAM -$0.09), uniQure NV (QURE -$0.52), Prime Medicine (PRME +$0.62)>   

 

RegMed/Stem/Cell and Gene Therapy’s 35 covered equities’ Advance/Decline (A/D) lines: what happened – differences …

  • Monday’s advance/decline line opened negative at 11 up/ 23 down and 1 flat, flipped positive with 19 up/ 15 down and 1 flat at the mid-day, ending with a BARELY positive close of 18/17 and 0 flat
  • Friday’s advance/decline line opened positive at 20 up/ 15 down and 0 flat, stayed positive with 18 up/ 15 down and 2 flats at the mid-day, ending with a positive close of 26/8 and 1 flat

 

Key Metrics:

The iShares NASDAQ Biotechnology (IBB) and the SPDR S&P ETF (XBI) indicators:

  • Monday, the IBB was up +0.38% and the XBI was up +0.35%
  • Friday, the IBB was up +1.74% and the XBI was up +1.59%

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Monday was up +0.17 point or +1.16% at 14.75
  • Friday was down -1.05 point or -6.71% at 14.60

 

Closing Down (10 of 17):

  • Blueprint Medicine (BPMC -$2.20 after Friday’s +$1.43),
  • CRISPR Therapeutics (CRSP -$1.96 after Friday’s +$0.48),
  • Alnylam Pharmaceuticals (ALNY -$1.37 after Friday’s +$5.00)
  • uniQure NV (QURE -$0.52 after Friday’s -$0.55),
  • Regenxbio (RGNX -$0.50 after Friday’s +$1.16),
  • Biostage (OTCQB: BSTG -$0.33),
  • Editas Medicine (EDIT -$0.23),
  • AxoGen (AXGN -$0.12),
  • Chinook Therapeutics (KDNY -$0.11 after Friday’s +$0.47),
  • Beam Therapeutics (BEAM -$0.09 after Friday’s +$1.52),

Closing Up (10 of 18):

  • Sage Therapeutics (SAGE +$2.11),
  • Prime Medicine (PRME +$0.62 after Friday’s +$1.35),
  • Ionis Pharmaceuticals (IONS +$0.41 after Friday’s -$1.19),
  • BioLife Solutions (BLFS +$0.48),
  • Verve Therapeutics (VERV +$0.47 after Friday’s +$0.86),
  • Ultragenyx (RARE +$0.40 after Friday’s +$1.24),
  • Voyager Therapeutics (VYGR +$0.36 after Friday’s -$0.39),
  • Intellia Therapeutics (NTLA +$0.31 after Friday’s +$2.80),
  • Adverum Biotechnologies (ADVM +$0.14),
  • Agenus (AGEN +$0.13),

 

Q2/23 – June

  • Monday closed positive with 18 incliners, 17 decliners and 0 flat
  • Friday closed positive with 26 incliners, 8 decliners and 1 flat
  • Thursday closed positive with 28 incliners, 7 decliners and 0 flat

 

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.”

Are we about to see/anticipating an intermediate-term correction if ‘sector” breadth fails to improve.

As I have stated, “The cell and gene therapy sector WILL be experiencing yet another “flight of Icarus” …  since “our” universe have oscillated between gains and losses since the first of 2023!”

Yet, there is VALUE out there however, it’s about playing or betting the timing of the sector. Even as I had stated, “I wouldn’t be buying into this rally … I would be selling into this upside!”

The top three (3) performing in the session:

·         Monday: Sage Therapeutics (SAGE), Prime Medicine (PRME) and Ionis Pharmaceuticals (IONS)

·         Friday: Alnylam Pharmaceuticals (ALNY) – again, Intellia Therapeutics (NTLA) and Beam Therapeutics (BEAM)

While The worst three (3) in the session:

·         Monday: Blueprint Medicine (BPMC), CRISPR Therapeutics (CRSP) and Alnylam Pharmaceuticals (ALNY) – again

·         Friday: Ionis Pharmaceuticals (IONS), uniQure NV (QURE) and Voyager Therapeutics (VYGR)

WHY (?) do I keep posting, so investors can get a daily update of the sector's share pricing and some individual companies TRUTHS while electronic trading chews on our portfolio edges.

I am definitely considered a contrarian depending on the session – one has to be a watcher of the ups and downs as well as measurer of sentiment. I am also a NO trust investor but, a validate and verify journalist/analyst.

Check your portfolio reports: Vanguard Group was fined and censured by the Financial Industry Regulatory Authority (FINRA) for errors appearing in about 8.5 million customer account statements.

 

The NO spin zone! U.S. public shareholders deserve accountability …

 

Biostage (OTCQB: BSTG) … so many issues from the past as many of those “miscreant management” members are still employed!

Monday closed down -$0.33 with 500 shares traded after Friday close up +$0.20 with 1,141 shares traded, Thursday closed down -$0.17 with 1,610 shares traded, Wednesday closed flat, Tuesday closed down -$0.13 with 2,718 shares traded and last Monday’s holiday <3-month average =1,466 shares>

·         Biostage (OTCQB: BSTG) finally announced a clinical trial initiation for an IND that was approved on 3/20/2020 – what’s with the time (3 years and 2 months) interval?

·         They wouldn’t have had the IND unless I (Henry) had brought in an FDA specialist and worked so many hours diligently with him and others to NOT be paid!

·         Question: Review the number of shares traded on a weekly and monthly basis … is OTCQB: BSTG a Ponzi scheme (with their pump/promote buy and sell agenda) as shares are bought to replace those sold?

·         Accumulated deficit:  $85,901 M – still NO product in sight – a 4-to-5-year clinical trial BEFORE they can evolve to a pediatric protocol!

·         Hopefully, BSTG will pay the new CRO having tried to NOT pay the former CRO with them which had to squeeze their arrears by almost NOT filing the old IND so BSTG had to pay-up after I had worked out the pay plan!

 

My question that resounds, that should be asked is how many companies are at the end of sentiments …  leash?

 

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.

Whether information or intelligence is good, bad or somewhere in between; I put into context what is relevant and useful for investors.  All investments are subject to risks. Investors should consider investment objectives.

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

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.