August 9, 2023 8:01am
If you’re looking for sector intel, ideas and facts or Insight in a volatile climate, RMi defines the extenuating factors of share pricing.
Earnings: Ionis Pharmaceuticals (IONS), Precigen (PGEN
News: Precigen (PGEN +$0.08), the US FDA has agreed that the ongoing Phase 1/2 single arm study (NCT04724980) of the first-in-class investigational PRGN-2012 AdenoVerse™ immunotherapy for the treatment of recurrent respiratory papillomatosis (RRP) will serve as pivotal for the purpose of filing an accelerated approval request for licensure. The FDA also confirmed no additional randomized, placebo-controlled trial will be required to support submission of a biologics license application (BLA). Based on the FDA guidance, the Company plans to initiate a confirmatory study prior to submission of the BLA.
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Pre-open Indication: 2 Negative and 3 Positive Indication
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 UP +0.09% or (+30 point), S&P futures are UP +0.13% or (+6 points) and NASDAQ futures are UP +01.0% or (+144 points) early in the pre-open – so far
Stock futures rise trying to recover from Tuesday’s losses,
European markets advanced, s Italy’s weakening of a surprise windfall tax on banks,
Asia-Pacific market were mixed as traders digested China’s disinflation
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 …
Tuesday struggled, the Dow closed 158.64 points lower, or 0.45%. Still, that’s better than where the Dow was at session lows when it declined about 465 points. Meanwhile, the S&P 500 fell 19.06 points or 0.42%, and the Nasdaq slid 110.07 points or 0.79%
Economic Data Docket: Thursday’ inflation numbers appear
Tuesday’s (8/) RegMed Investors’ (RMi) closing bell: “August’s session 6: cell and gene therapy sector share pricing fades less than previous session after earnings’ LPS (loss-per-share) reports. If you want facts to expose share pricing facts to save your portfolio for deliberate decisions, bookmark this site!” … https://www.regmedinvestors.com/articles/13069
Ebb and flow:
Q3: August – 1 positive and 5 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
Negative Indications:
Tuesday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Regenxbio (RGNX) closed up +$0.30 after Monday’s -$0.15, Friday’s +$0.32 after Thursday’s -$1.42 with a negative -$0.36 or -2.02% aftermarket indication.
Verve Therapeutics (VERV) closed up +$1.20 after Tuesday’s $2.61, Monday’s +$0.03 and Friday’s $0.03 with a negative -$1.07 or -6.10% aftermarket indication
Positive Indications: Maintaining
Tuesday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Blueprint Medicine (BPMC) closed down -$0.24 after Monday’s -$2.70, Friday’s -$1.03 after Thursday’s -$3.42, Wednesday’s -$9.54, Tuesday’s -$1.86 and Monday’s +$2.88 with a positive +$0.10 or 0.21% pre-open indication
Precigen (PGEN) closed up +$0.02 with a positive +$0.08 pre-open indication on news (in title)
Ultragenyx (RARE) closed down-$0.95 after Monday’s -$1.53, after Friday’s -$3.63 after Thursday’s -$1.05 after Wednesday’s -$0.57 with a positive +$0.02 or +0.06% 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!
A very appropriate quote, “You don't do well by trying to be right; it is impossible for humans. You do well by figuring out when you're wrong faster than others do.” <Nassim Nicholas Taleb>
The cell and gene therapy sector suffered 1 positive and 5 negative closes so far in this early August.
The sector could be at an inflection point, for good or ill. With the uptrend "under pressure," investors should be cautious about new buys. But it is an excellent time to be looking for promising stocks.
I ALWAYS try to nibble on some new buys, or add a few more shares to downtrodden positions, perhaps trimming some laggards.
SOME equities COULD be flashing buy signals post earnings’ release … and IF you take action, do so gradually. The past few weeks of up-and-down trading, including Friday, have meant that many recent buys have quickly struggled.
Earnings … TODAY … Ionis Pharmaceuticals (IONS), Precigen (PGEN) …
Yesterday’s earnings need to be written up: Agenus (AGEN), Beam Therapeutics (BEAM), BioLife Solutions (BLFS), Sangamo Therapeutics (SGMO), Fate Therapeutics (FATE), Verve Therapeutics (VERV) and bluebird bio (BLUE)
Filed so far: AxoGen (AXGN), Sage Therapeutics (SAGE), Prime Medicine (PRMC), CRISPR Therapeutics (CRSP), 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
There's ALSO 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.
