August 4, 2023 8:02am
All eyes have been on earnings’ releases and share pricing decline causations
News: Mesoblast (MESO -$2.67 or -66.92%) The U.S. FDA rejected MESO's cell therapy for children under 12 years of age for treating a type of complication that occurs after a stem cell or bone marrow transplant, sending its Australia-listed shares crashing about 58% on Friday. The FDA required more data to support marketing approval for the company's lead product remestemcel-L.
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Pre-open Indications: 5 Positive Indications
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 barely DOWN -0.11% or (-39 point), S&P futures are UP +0.01% or (+0.25 points) and NASDAQ futures are UP +0.02% or (+3) points) early in the pre-open – so far
U.S futures were up, mixed and weak on Friday,
European markets were slightly higher to close off a downbeat week as investors digest the Bank of England rate hike,
Asia-Pacific markets were mixed on Friday as rising bond yields continue to put pressure on equities
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 floated down as rising bond yields pressure stocks.
Thursday night, the Dow closed DOWN -66.63 points (-0.19%), the S&P closed DOWN -11.50 points (-0.25%) while the Nasdaq closed DOWN -13.73 points (-0.10%)
Economic Data Docket: nonfarm payrolls to grow by 200,000 in July. Meanwhile, the consensus estimate shows the unemployment rate should hold steady at 3.6%. Economists are expecting average hourly wages to rise by 0.3% from June and 4.2% on an annualized basis.
Thursday’s (8/3) RegMed Investors’ (RMi) closing bell: “earnings LPS (loss-per-share) still coming enabling many sectors’ shares pricing decline” … https://www.regmedinvestors.com/articles/13063
Ebb and flow:
Q3: August – 3 negative closes
· July - 1 holiday, 12 positive and 8 negative close
Q2/23 -
· June -1 Holiday, 8 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
Positive Indications:
Thursday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Agenus (AGEN) closed Thursday float after Wednesday’s down -$0.01 and Tuesday’s -$0.06 with a positive +$0.02 or +1.38% pre-open indication
Blueprint Medicine (BPMC) closed down -$3.42 with a positive +$1.01 or +2% aftermarket indication.
CRISPR Therapeutics (CRSP) closed down -$1.66 with a positive +$0.62 or +1.21% pre-open indication.
Intellia Therapeutics (NTLA) closed down -$0.62 after Wednesday’s -$1.25 and Tuesday’s -$1.37 with a positive +$0.59 or +1.51% pre-open indication
Mesoblast (MESO) closed flat at $3.99 with a negative -$2.65 or -66.41% downgrade and then the news of the FDA’s rejected Mesoblast's cell therapy for children under 12 years of age for treating a type of complication that occurs after a stem cell or bone marrow transplant
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!
Quote, “the Nasdaq has had some herky-jerky action on a daily or intraday basis in the past couple of weeks. That's not a big deal for longer-held positions generally, but has made new purchases tricky.” <IBD>
Investors should be careful about adding exposure right now, especially if you are already heavily invested. You could nibble on some new buys, or add a few more shares to winning positions, perhaps trimming some laggards.
Earnings … TODAY … there are NO releases, Next is AxoGen (AXGN) on Monday
Filed so far: uniQure NV (QURE) and MiMedx MDXG), Vericel (VCEL), Blueprint Medicine (BPMC), Editas Medicine (EDIT) and REGENXBIO (RGNX), Voyager Therapeutics (VYGR), Ultragenyx (RARE), Intellia Therapeutics (NTLA), Cellectis SA (CLLS) …
· Questions are …consensus and revenue beats and misses??
RegMed Investors (RMi) Research Note: Q2/23 net losses earnings, cash positions and runway outcomes … https://www.regmedinvestors.com/articles/13058
Few stocks are flashing buy, with sector names in particular facing a NO news period in the next few days, investors could NOT consider adding exposure.
There's nothing wrong with standing pat in the short run, holding on to sizable existing exposure.
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!
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 could hold or have positions securities referred to in this publication and he will NOTIFY investors of holdings.
