June 23, 2023 7:43am

There are more equities in risk!

Pre-open Indication: 1 Positive, 1 Negative and 1 Sell into Strength

News: Sarepta Therapeutics (SRPT closed -$2.95 to $123.92 with a pre-open indication of +$0.08) the FDA approved the first gene therapy for Duchenne Muscular Dystrophy that afflicts more than 100,000 boys and young men in the US

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!  Never leave an investor uninformed!  

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 -0.26% or (-90 points), S&P futures are DOWN -0.40% or (-17 points) and NASDAQ futures are DOWN -0.52% or (-78 points) early in the pre-open – so far

Stock futures were lower Friday, June 23, 2023,

European markets were mixed,

Asia-Pacific markets were lower.

 

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 …

Thursday, indexes rose post the mid-day with The Dow closed DOWN -4.81 points (-0.01%), the S&P closed UP +16.20 points (+0.37%) while the Nasdaq closed UP +128.41 points (+0.95%).

“The markets have been under a bit of pressure since the press conference and news release of the Fed the other week stating that they are not going to increase interest rates at this time, but are likely to increase rates again 1-2 times later this year.” <Yung-Yu Ma, chief investment strategist at BMO Wealth Management>

Economic Data Docket: S&P Global PMI composite data for June

 

Thursday (6/22) … RegMed Investors’ (RMi) closing bell: “cell and gene therapy sector; who’s in a phase 1, what’s in phase 2, do we know who’s in phase 3; not quite Abbott & Costello but close. Funny names, do investor know the names of drug candidates?” … https://www.regmedinvestors.com/articles/13015

 

Ebb and flow:

Q2/23 – June: 1 Holiday, 6 negative and 9 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:

Thursday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)

Compass Therapeutics (CMPX) closed down -$0.12 with a positive +$0.13 or +3.96% after being added to the Russell 2000® and Russell 3000® Indexes as part of the Russell indexes annual reconstitution, effective after the US market opens on June 26, 2023.

 

Negative Indication:

Thursday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)

Brainstorm Cell Therapeutics (BCLI) closed up +$0.03 with a negative -$0.06 or -2.55% aftermarket indication.

 

Sell into Strength:

Thursday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)

Blueprint Medicine (BPMC) closed up +$0.42 after Thursday’s +$0.42, Wednesday’s -$0.34 and last Tuesday’s +$2.69 with a +$0.091 or +1.42% 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!

It's a lot less risky to be adding a few shares to an existing stake versus starting a new position. If a Nasdaq pullback resumes, many of these leaders could fall back. If you buy a bounce near intraday highs, it doesn't take much to be underwater. <IBD>

Earnings are about to be ready for release – questions are …RUNWAYS on track for further growth?

Still suffering with a walking stick everywhere (barely able to sit in a chair for long periods of time), “Had a “big” fight raking-out the loom and mulch, the rake won as I threw out my back – thank you Dr. Waller, chiropractor who more than popped me back into shape – somewhat after, being flat on my back for three (3) days taught me a lesson – another meet-up booked.”

I 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.