August 10, 2023 8:42am
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: Adverum Biotechnologies (ADVM) and Verve Therapeutics (VERV)
Pre-open Indication: 1 Negative and 4 Positive Indication
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8:30 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 +0.56% or (+198 point), S&P futures are UP +0.54% or (+24 points) and NASDAQ futures are UP +0.78% or (+117 points) early in the pre-open – so far
Stock futures climb ahead of inflation report,
European markets climb on strong earnings,
Asia-Pacific markets were mixed as investors braced for July consumer price index data.
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 …
Wednesday, indexes fell awaiting fresh inflation data coming later in the week as the Dow closed DOWN -191.13 or -0.54%, the S&P closed DOWN -31.67 or -0.70% while the Nasdaq closed DOWN -162.32 points (-1.17%)
An honest quote, ““Markets are focused on whether or not inflation is falling fast enough to allow the Fed to stop hiking rates,” said Bill Merz, head of capital markets research at U.S. Bank Wealth Management. “It has been decelerating, but it’s still too high. And the Fed is at a bit of a crossroads.” <CNBC>
Playing through the numbers, “The Nasdaq Composite has lost 4.4% since August began, while the S&P 500 and Dow have slid 2.6% and 1.2%, respectively. With Wednesday’s retreat, the Nasdaq has moved into negative territory on the quarter. Still, all three indexes are notably higher than where each began 2023.” < Phillip Colmar, managing partner at MRB Partners>
Investors are hoping for more signs of disinflation through the CPI report and Friday’s producer price index.
Economic Data Docket: The consumer price index in July was expected to rise 0.2% from the prior month and 3.3% from a year ago.
Wednesday’s (8/9) RegMed Investors’ (RMi) closing bell: “more of the same – decline in cell and gene therapy sector’s share pricing post earnings’ releases yet the sector closed positive.” … https://www.regmedinvestors.com/articles/13071
Ebb and flow:
Q3: August – 2 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:
Wednesday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Caribou Biosciences (CRBU) closed up +$0.38 with a negative -$0.15 or -2.17% aftermarket indication.
Positive Indications:
Wednesday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Beam Therapeutics (BEAM) closed down -$0.14 with a positive +$0.79 or +3.03% pre-open indication
Bluebird bio (BLUE) closed down -$0.35 with a positive +$0.0585 or +1.65% pre-open indication.
CRISPR Therapeutics (CRSP) closed down -$2.10 with a positive +0.78 or +1.53% pre-open indication
Mesoblast (MESO) closed down -$0.14 with a positive +$0.0399 or +3.24% pre-open 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 2 positive and 5 negative closes so far in this early August.
Inflation was in-line on bumpy road!
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.
