June 6, 2023 7:39am
Stem, cell and gene therapy’s kumbayas this week in Boston, MA (BIO) and Winston-Salem, NC (World Stem Cell Summit)
Pre-open Indications: 1 Sell into Strength, 1 Positive and 1 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.
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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 -0.12% or (-40 points), S&P futures are DOWN -0.08% or (-3 point) and NASDAQ futures are DOWN -0.07% or (-10 points) early in the pre-open – so far
Stock futures are falling on Tuesday,
European markets opened mixed,
Asia Pacific markets were 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 …
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.
Also, Monday 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%).
Monday (6/5) … RegMed Investors’ (RMi) closing bell: “Monday’s sector’s barely positive close was written by Friday’s market and sector moves. What’s next hinges on the Fed’s formula for bringing down inflation.” … https://www.regmedinvestors.com/articles/12988
Ebb and flow:
Q2/23 – 3 positive closes
· May – 10 negative and 12 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 Indication:
Monday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Ultragenyx Pharmaceuticals (RARE) closed up +$0.40 with a positive +$3.74 or +&.30% pre-open indication as RARE and Mereo BioPharma announced positive data from the ongoing P2/3 Orbit Study of Setrusumab (UX143) in Osteogenesis Imperfecta (OI). <Setrusumab rapidly induced bone production in OI-affected patients.> Across all patients evaluated setrusumab demonstrated statistically significant increases in levels of serum P1NP, a sensitive marker of bone formation, and a substantial and significant improvement in bone mineral density (BMD) by 3 months.
Sell into Strength:
Monday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Sage Therapeutics (SAGE) closed up +$2.11 with a negative -1.28 or -2.46% aftermarket indication
Negative indications:
Monday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)
BioLife Solutions (BLFS) closed up +$0.48 with a negative -$0.55 or -2.32% aftermarket indication
The BOTTOM LINE:
I follow the dictum, quoting Churchill that “short words are best, and the old words when short are best of all, as I try to keep it simple and short!
After three up sessions, algorithms will be reducing exposure and taking profits after Monday’s modest losses – I would!
The Russell 2000 fell solidly, closing just below the 200-day line. That's a reflection of weak breadth. After winners dominated late last week, losers easily won Monday. <IBD>
There is STILL value out there however, I have been “parsing” and slowing forecasts anticipating a pullback or speedbump!
Several stocks did flash buy signals Monday, though it wasn't a flood given Monday's mildly lower action. Don't force your way into heavy exposure. Let the market rally draw you in. If the market steadily improves and top stocks flash buy signals, you can add to your portfolio over time. If the market begins to falter, you'll want to keep an eye on the exit. <IBD>
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.
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.
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.
