August 22, 2023 7:48am
And the possibility of undesirable consequences
If you’re looking for sector intel, ideas and facts or Insight in a volatile climate, RMi defines the extenuating factors of share pricing.
Pre-open Indications: 1 Negative, 1 Positive and 3 Sell into Strength
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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 UP +0.20% or (+70 point), S&P futures are UP +0.45% or (+19 points) and NASDAQ futures are UP +0.65% or (+97 points) early in the pre-open – so far
U.S. stock futures are slightly higher on Tuesday,
European markets were higher,
Asia-Pacific markets are mostly up even as yields of U.S. 10-year Treasury bonds hit levels not seen in over a decade.
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 …
Monday, indexes were mixed as the Dow closed DOWN -36.97 or -0.11%, the S&P closed UP +30.06 or +0.69% while the Nasdaq closed UP +206.81 points (+1.56%).
Monday’s moves came even as the benchmark 10-year Treasury note yield hit a high of 4.34%, reaching its highest level since 11/2007.
Economic Data Docket: existing home sales, Philadelphia Fed’s nonmanufacturing survey, and the Richmond Fed’s manufacturing survey results.
Monday’s (8/21) RegMed Investors’ (RMi) closing bell: “are the upsides at risk by non-investor algorithmic and electronic trading?” … https://www.regmedinvestors.com/articles/13087
Ebb and flow:
Q3: August – 4 positive and 11 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
Sell into Strength:
Monday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Blueprint Medicine (BLMC) closed up +$1.26 with a positive +$0.78 or +1.44% aftermarket indication.
Ultragenyx Pharmaceuticals (RARE) closed up +$1.88 with a neutral aftermarket indication
Regenxbio (RGNX) closed up +$0.48 with a neutral aftermarket indication
Positive Indication:
Monday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Ionis Pharmaceuticals (IONS) closed down-$0.34 with a positive +$0.37 or +1.50% pre-open indication.
Negative Indication:
Monday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Alnylam Pharmaceuticals (ALNY) closed up +$2.70 with a negative -1.03 or -0.55% 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 “ain’t” been a good August for the cell and gene therapy sector as it suffers 4 positive and 11 negative closes so far.
I am not confident that some cell and gene therapy sector equities can continue ascending to the upside.
Risk is riskier …
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.
