July 7, 2023 7:55am
For equities, it’s a shot and a possible miss, hoping uncle algo comes for another short visit?
Pre-open Indication: 1 Sell into Strength and 5 Positive Indication
News: BrainStorm Cell Therapeutics (BCLI -$0.10 pre-open or -5%) presented new biomarker data from the P3 trial of its late-stage investigational ALS treatment, NurOwn at the 2023 ALS and Related Motor Neuron Diseases Gordon Research Conference. These data show that treatment with NurOwn significantly elevated markers of neuroprotection and lowered markers of neuroinflammation and neurodegeneration, including neurofilament light (NfL) over time compared to placebo in all trial participants.
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 yesterday with a bit for tomorrow.
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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 -0.01% or (-5 points), S&P futures are DOWN -0.06% or (-2 points) and NASDAQ futures are DOIWN -0.16% or (-24 points) early in the pre-open – so far
Stock futures were barely down Friday morning,
European markets were mixed and soft
Asia-Pacific markets fell for a second day of declines.
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 slid on Thursday as the Dow closed DOWN -366.38 points (-1.07%), the S&P closed DOWN -35.23 points (-0.79%) while the Nasdaq closed DOWN -112.61 points (-0.82%)
Yesterday, data from ADP showed that private sector employers added 497,000 jobs in June. That figure far exceeded the 220,000 estimation.
Economic Data Docket: Labor Department’s June payrolls report
· Economists anticipate an increase of 240,000 positions, a cooldown from May’s gain of 339,000 jobs.
RegMed Investors’ (RMi) closing bell: “yet another sliding session for the cell and gene therapy sector after getting its share pricing butt kicked. More than a lot of cautious cash sits on sidelines even with a positive Caribou Therapeutics (CRBU) investment by Pfizer (PFE) and advancing data from RARE the sector was ripped from its moorings again.” … https://www.regmedinvestors.com/articles/13033
Ebb and flow:
Q3: 1 holiday, 1 positive and 2 negative close
Q2/23 -
· June -1 Holiday, 9 negative and 11 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
Pre-open Indication: I had considered a pause but, it’s still a game of chance in this market and sector -take a shot at some of those equities that have declined
A pop in the aftermarket –
Thursday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Beam Therapeutics (BEAM) closed down -$1.43 with a positive +$0.84 or +2.76% aftermarket indication.
Intellia Therapeutics (NTLA) closed down -$1.33 with a positive +$0.87 or +2.22% pre-open indication
Prime Medicine (PRME) closed down -$1.03 with a positive +$0.31 or +2.26% aftermarket indication.
Sage Therapeutics (SAGE) closed down -$1.55 with a positive +$0.50 or +1.10% aftermarket indication.
Verve Therapeutics (VERV) closed down -$0.44 with a positive +$0.32 or +1.72% aftermarket indication.
Sell into Strength:
Thursday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Vericel (VCEL) closed up +$0.45 with a positive +$1.10 or +3% 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!
WHO is a work this week, I’m half in watching periodically. No rain after the past few days … catch some rays as I move more loam and mulch. It was supposed to be vacation week!
Earnings are about to be ready for release – questions are …RUNWAYS on track for further growth?
"Time in the market is better than timing the market" is investing wisdom that's maintained its relevance for a reason.” <Nasdaq>
Another positive for the biotech and support services sector; ThermoFisher (TMO) to BUY data provider CorEvitas (lab equipment, supplies, and services) for $913 M from Autex Group from, even though a private equity group – it’s still sector oriented.
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!
More bad news, approximately 700 workers were laid off from Massachusetts life sciences companies in the Q2/23.
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.
