June 21, 2023 4:47pm
Jerome spoke, “more rate hikes are likely ahead as the central bank tries to combat inflation”
News: bluebird bio (BLUE -$0.09) the U.S. FDA has accepted the Biologics License Application (BLA) for lovotibeglogene autotemcel (lovo-cel) for priority review.
Pre-open Indications: 3 Hits and 0 Miss
Subscription is coming, it is not conscription but, an offer to join our collective of like-minded investors! Join me … in the NO spin zone.
Never leave an investor uninformed! Framing the main takeaway … pricing, volume and machine trading creates volatility and liquidity!
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 -102.35 points (-0.30%), the S&P closed DOWN -23.02 points (-0.52%) while the Nasdaq closed DOWN -165.10points (-1.21%)
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 were lower Wednesday as investors paused from last week’s market rally, and weighed Fed’s Powell’s latest comments on inflation.
Investors are coming off a second straight trading day of losses. On Tuesday, the Dow fell 245.25 points, or 0.72%, the S&P 500 slid 0.47%, and the Nasdaq lost 0.16%. Last week, the S&P 500 hit its highest level since April 2022 and posted its fifth consecutive positive week. <CNBC>
Economic Data Docket: Fed Chair Powell gave high marks to the U.S. economy, which has held steady despite the central bank’s efforts to slow growth and bring down inflation. “The economy is very strong,” Powell said during one of his exchanges with House Financial Services Committee members. “What’s driving it now is just a very strong labor market.”
Wednesday (6/21) … RegMed Investors’ (RMi) pre-open: “fluctuating, rotating or was it wavering. It’s still a struggle for direction; it’s what the cell and gene therapy sector does!” … https://www.regmedinvestors.com/articles/13011
RegMed/Stem/Cell and Gene Therapy’s 35 covered equities’ Advance/Decline (A/D) lines: what happened – differences …
- Wednesday’s advance/decline line opened negative at 8 up/ 25 down and 2 flats, stayed negative with 16 up/ 19 down and 0 flat at the mid-day, ending with a negative close of 13 incliners, 19 decliners and 0 flat
Pre-open indications: 3 Hit <CRISPR Therapeutics (CRSP +$0.08), Editas Medicine (EDIT -$0.34), Blueprint Medicine (BPMC -$0.34)> and 0 Miss
Key Metrics:
The iShares NASDAQ Biotechnology (IBB) and the SPDR S&P ETF (XBI) indicators:
- Wednesday, the IBB was down -0.43% and the XBI was down -0.52%
The CBOE Volatility Index (VVIX: INDEX) tracked:
- Wednesday was down -0.65 point or -4.68% at 13.23
Closing Down (10 of 13):
- uniQure NV (QURE -$7.82),
- Intellia Therapeutics (NTLA -$1.77 after Tuesday’s -$1.29),
- Voyager Therapeutics (VYGR -$1.35 after Tuesday’s +$1.02),
- Regenxbio (RGNX -$0.95 after Tuesday’s +$0.40),
- Solid Biosciences (SLDB -$0.70 after Tuesday’s -$0.19),
- Verve Therapeutics (VERV -$0.70 after Tuesday’s -$0.21),
- Beam Therapeutics (BEAM -$0.67 after Tuesday’s -$0.36),
- BioLife Solutions (BLFS -$0.58 after Tuesday’s +$0.50),
- Blueprint Medicine (BPMC -$0.34 after Tuesday’s +$2.69),
- Editas Medicine (EDIT -$0.34 after Tuesday’s -$0.46 after Friday’s -$0.46 after Thursday’s -$1.81 on the heels of an $125 M stock offering),
Closing Up (10 of 22):
- Alnylam Pharmaceuticals (ALNY +$2.30),
- Ultragenyx (RARE +$2.02 after Tuesday’s +$1.85),
- Vericel (VCEL +$0.91),
- MiMedx (MDXG +$0.42),
- Generation Bio (GBIO +$0.30),
- Ionis Pharmaceuticals (IONS +$0.20),
- Mesoblast (MESO +$0.14 after Tuesday’s +$0.31),
- Caribou Biosciences (CRBU +$0.07 after Tuesday’s -$0.24),
- Brainstorm Cell Therapeutics (BCLI +$0.07 after Tuesday’s -$0.37),
- Compass Therapeutics (CMPX +$0.04 after Tuesday’s +$0.27),
Q2/23 – June
- Wednesday closed negative with 13 incliners, 22 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 believe, there is a great deal of money on the sidelines of people who had been scared of the coming July, a usual slow month for trading.
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!”
Reiterating, there is VALUE out there even as electronic trading and algorithms take their toll on share pricing however, it’s about playing or betting and timing of the sector.
A NEGATIVE for the sector: UniQure NV (QURE -$7.82 or -40.23% to $11.62) crashed having unveiled mixed results for its study of a Huntington's disease treatment … https://www.regmedinvestors.com/articles/13012
The top three (3) performing in the session:
· Wednesday: Ultragenyx (RARE) – again, Alnylam pharmaceuticals (ALNY) and Vericel (VCEL)
· Tuesday: Blueprint Medicine (BPMC), Ultragenyx (RARE) and Voyager Therapeutics (VYGR)
· Monday: holiday
While The worst three (3) in the session:
· Wednesday: uniQure NV (QURE), Intellia Therapeutics (NTLA) and Voyager Therapeutics (VYGR)
· Tuesday: CRISPR Therapeutics (CRSP), Intellia Therapeutics (NTLA) and Editas Medicine (EDIT)
· Monday: holiday
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!
Wednesday closed down -$0.12 with 2,676 shares traded after Tuesday closed down -$0.08 with 1,523 shares traded, Monday’s market holiday post Friday closing down -$0.2175 with 410 shares traded, <3-month average =758 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?
· 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.
