June 10, 2023 11:37am
Investors are waiting for next week’s potentially market-moving events, including the Fed’s next meeting on interest rates and updates on inflation as politics confuse the populace
Pre-open Indications: 2 Hist and 1 Miss
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Week in review
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 UP +43.63 points (+0.13%), the S&P closed UP +5.02 points (+0.12%) while the Nasdaq closed UP +20.62 points (+0.16%)
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 rose slightly Friday, as investors looked ahead to new inflation data set for release next week, along with the Fed’s latest policy announcement.
For the week, the S&P 500 was up 0.5%, on track for its fourth straight weekly gain - its longest weekly winning streak since August. The Nasdaq was up about 0.3%, on pace for its seventh (7th) straight advance week advance - its longest streak of gains since November 2019; while the Dow advanced +0.3% advance.
The market is also looking toward next week’s CPI numbers and the Federal Open Market Committee meeting. Markets are currently anticipating almost 75% probability the central bank to pause its rate-hiking campaign
Friday (6/9) … RegMed Investors’ (RMi) pre-open: “RegMed Investors’ (RMi) pre-open: futures waver on a closing week’s Friday. What’s in front of us: the Fed’s upcoming policy and questionable political actions?” … https://www.regmedinvestors.com/articles/12995
Pre-open Indications: 2 Hit (AxoGen (AXGN -$0.28), Sage Therapeutics (SAGE -$2.84)> and 1 Miss < Agenus (AGEN -$0.28>)
RegMed/Stem/Cell and Gene Therapy’s 35 covered equities’ Advance/Decline (A/D) lines: what happened – differences …
- Friday’s advance/decline line opened positive at 17 up/ 15 down and 3 flats, flipped negative with 11 up/ 23 down and 1 flat at the mid-day, ending with a negative close of 14/20 and 1 flat
- Thursday’s advance/decline line opened negative at 14 up/ 18 down and 3 flats, stayed negative with 16 up/ 18 down and 1 flat at the mid-day, ending with a negative close of 11/22 and 2 flat
- Wednesday’s advance/decline line opened negative at 16 up/ 18 down and 1 flat, flipped neutral with 17 up/ 17 down and 1 flat at the mid-day, ending with a positive close of 19/15 and 1 flat
- Tuesday’s advance/decline line opened positive at 24 up/ 8 down and 3 flats, stayed positive with 26 up/ 8 down and 1 flat at the mid-day, ending with a positive close of 29/6 and 6 flat
- 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
Key Metrics:
The iShares NASDAQ Biotechnology (IBB) and the SPDR S&P ETF (XBI) indicators:
- Friday, the IBB was down -0.15% and the XBI was down -0.53%
- Thursday, the IBB was up +0.16% and the XBI was down -0.10%
- Wednesday, the IBB was down -0.05% and the XBI was up +0.26%
- Tuesday, the IBB was down -0.39% and the XBI was up +1.49%
- Monday, the IBB was up +0.38% and the XBI was up +0.35%
The CBOE Volatility Index (VVIX: INDEX) tracked:
- Friday was up +0.09 point or +0.66% at 13.74
- Thursday was down -0.29 point or -2.08% at 13.65
- Wednesday was down -0.72 point or -4.89% at 14.01
- Tuesday was down -0.72 point or -4.89% at 14.01
- Monday was up +0.17 point or +1.16% at 14.75
Closing Down (10 of 20):
- CRISPR Therapeutics (CRSP -$1.35 after Thursday’s -$0.18, Wednesday’s -$1.80, Tuesday’s +$1.54 and Monday’s -$1.96),
- Beam Therapeutics (BEAM -$1.24),
- UniQure NV (QURE -$1.18 after Thursday’s +$0.38 and Wednesday’s +$0.11)
- Ionis Pharmaceuticals (IONS -$1.00 after Thursday’s +$1.10, Wednesday’s -$2.78, Tuesday’s +$1.07 and Monday’s +$0.41),
- Prime Medicine (PRME -$0.52 after Thursday’s -$1.78 and Wednesday’s -$0.26),
- BioLife Solutions (BLFS -$0.59 after Thursday’s -$0.43 and Wednesday’s -$0.47),
- Fate Therapeutics (FATE -$),
- Verve therapeutics (VERV -$0.43),
- AxoGen (AXGN -$0.28 after Thursday’s +$0.17, Wednesday’s +$0.16 and Wednesday’s +$0.41)
- Ultragenyx (RARE -$0.20 after Thursday’s -$0.24 and Wednesday’s +$0.34),
Flat (1):
- Biostage (OTCQB: BSTG
Closing Up (14 of 14):
- Sage Therapeutics (SAGE +$2.84 after Thursday’s +$0.17, Wednesday’s +$2.79, Tuesday’ +$1.81 and Monday’s +$2.11),
- Blueprint Medicine (BPMC +$1.86 after Thursday’s -$3.42, Wednesday’s +$2.03, Tuesday’ +$1.98 and Monday’s -$2.20),
- Vericel (VCEL +$1.11 after Thursday’s -$0.70, Wednesday’s +$0.47 after Tuesday’ +$1.18),
- Alnylam Pharmaceuticals (ALNY +$0.40, Thursday’s +$0.26 after Wednesday’s -$2.79),
- Voyager Therapeutics (VYGR +$0.18 after Thursday’s +$0.20),
- MiMedx (MDXG +$0.12),
- Compass therapeutics (CMPX +$0.11 after Thursday’s -$0.19 and Wednesday’s +$0.110
- Adverum Biotechnologies (ADVM +$0.09),
- Editas Medicine (EDIT +$0.07 after Thursday’s -$0.92, Wednesday’s +$0.27, Tuesday’ +$0.81 and Monday’s -$0.23),
- Chinook Therapeutics (KDNY +$0.04),
- Solid Biosciences (SLDB +$0.02)
- Mesoblast (MESO +$0.020,
- Homology Medicine (FIXX +$0.02),
- Generation BIO (GBIO +$0.01),
Q2/23 – June
- Friday closed negative with 14 incliners, 20 decliners and 1 flat
- Thursday closed negative with 11 incliners, 22 decliners and 2 flats
- Wednesday closed positive with 19 incliners, 15 decliners and 1 flat
- Tuesday closed positive with 29 incliners, 6 decliners and 0 flat
- Monday closed positive with 18 incliners, 17 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.”
I said yesterday (Thursday) that I STILL believed in defensive moves i.e., to make changes in share pricing.
Right up front, “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!”
Yet, there is VALUE out there after electronic trading and algorithms take their toll on share pricing however, it’s about playing or betting and timing of the sector. Even as I had stated, “I wouldn’t be buying … I would be selling into this upside!”
The top three (3) performing in the session:
· Friday: Sage Therapeutics (SAGE), Blueprint Medicine (BPMC) and Vericel (VCEL)
· Thursday: Alnylam Pharmaceuticals (ALNY), Ionis Pharmaceuticals (IONS) and uniQure NV (QURE)
· Wednesday: Sage Therapeutics (SAGE), Blueprint Medicine (BPMC) and Vericel (VCEL)
· Tuesday: Blueprint Medicine (BPMC), Intellia Therapeutics (NTLA) and Sage Therapeutics (SAGE) – again
· Monday: Sage Therapeutics (SAGE), Prime Medicine (PRME) and Ionis Pharmaceuticals (IONS)
While The worst three (3) in the session:
· Friday: CRISPR Therapeutics (CRSP), Beam therapeutics (BEAM) and uniQure NV (QURE)
· Thursday: Blueprint Medicine (BPMC), Prime Medicine (PRME) and Editas Medicine (EDIT)
· Wednesday: Alnylam Pharmaceuticals (ALNY), Ionis Pharmaceuticals (IONS) and CRISPR Therapeutics (CRSP)
· Tuesday: Chinook Therapeutics (KDNY), MiMedx (MDXG) and Biostage (OTCQB: BSTG)
· Monday: Blueprint Medicine (BPMC), CRISPR Therapeutics (CRSP) and Alnylam Pharmaceuticals (ALNY) – again
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!
Friday closed FLAT with 0 shares traded after Thursday closed down -$0.11 with 301 shares traded, Wednesday closed FLAT with 46 shares traded, Tuesday closed down -$0.06 with 1,100 shares traded, Monday closed down -$0.33 with 500 shares traded, Friday close up +$0.20 with 1,141 shares traded and last Thursday closed down -$0.17 with 1,610 shares traded <3-month average =1,441 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!
· OTCQB: BSTG is holding their annual meeting on 7/19, to vote the Beijing, China designated directors …??? Certainly NOT a US company ANYMORE!
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.
