September 22, 2023 6:47pm
No rescue for the oversold as new bottoms are accumulating before upcoming earnings releases down trends and “uncle algo” and his electronic trading dwarfs never came to visit
Pre-open Indications: 2 Hit and 3 Miss
The cell and gene therapy sector is defined by the words, “When you’re on a roller coaster, the only thing you can be sure of is you’ll end up back where you started”
Subscription is coming, it is not conscription but, an offer to join our collective of like-minded investors! Join me … in the NO spin zone.
Never leave an investor uninformed!
The week in review
Investors crave share pricing explanations because they give us an illusion of portfolio control. I know what a company is supposed to look like, be like, and smell like to succeed; bottom line, investors own the right to exit or enter sector’s share pricing.
The Dow closed DOWN -106.58 points or -0.31%, the S&P closed DOWN -9.94 points or -0.23% while the Nasdaq closed DOWN -12.18 points or -0.09%
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 retreated Friday, as the market was still poised to end the week with steep losses.
For the week, the Dow dipped -1.9%, the S&P 500 -2.9% and the Nasdaq was down -3.6%, respectively. It would the third negative weeks in a row for both. The blue-chip Dow dipped 1.5% on the week.
Economic Data Docket: The U.S. economy is seeing sluggish growth in September, according to a preliminary report released Friday by S&P Global. The flash composite purchasing managers index for the U.S. ticked down to 50.1 from 50.2 in the prior month. PMI numbers above 50 are considered expansionary. Manufacturing PMI came in at 48.9, up from 47.9 previously, while services PMI ticked down to 50.2 from 50.5 last month. Economists were looking for readings of 48.2 on manufacturing and 50.7 on services.
Friday (9/22) … RegMed Investors’ (RMi) Opening Bell: “look for “some” buy points. What’s still risky after 5 negative closes in a row; will “uncle algo” and his electronic trading dwarfs come to visit?” … https://www.regmedinvestors.com/articles/13132
Pre-Open indications: 2 Hit < Sage Therapeutics (SAGE -$0.04), Ultragenyx Pharmaceuticals (RARE -$0.18)> and 3 Miss < Beam Therapeutics (BEAM -$1.20), CRISPR Therapeutics (CRSP -$0.57), Intellia Therapeutics (NTLA -$1.14)>
RegMed/Stem/Cell and Gene Therapy’s 35 covered equities’ Advance/Decline (A/D) lines: what happened – differences …
- Friday’s advance/decline line opened negative at 9 up/ 24 down and 2 flats, stayed negative at the mid-day with 9 up/ 25 down and 1 flat, ending with a negative close of 9 incliners, 22 decliners and 4 flats
- Thursday’s advance/decline line opened negative at 2 up/ 28 down and 5 flats, stayed negative at the mid-day with 5 up/ 28 down and 2 flats, ending with a negative close of 8 incliners, 25 decliners and 2 flats
- Wednesday’s advance/decline line opened positive at 22 up/ 11 down and 2 flats, turned negative at the mid-day with 15 up/ 19 down and 1 flat, ending with a negative close of 3 incliners, 31 decliners and 1 flat
- Tuesday’s advance/decline line opened negative at 13 up/ 18 down and 4 flats, stayed negative at the mid-day with 14 up/ 20 down and 1 flat, ending with a negative close of 17 incliners, 18 decliners and 0 flats
- Monday’s advance/decline line opened negative at 9 up/ 25 down and 1 flat, stayed negative with 8 up/ 26 down and 1 flat at the mid-day, ending with a negative close of 11 incliners, 22 decliners and 2 flats
Ebb and flow:
Q3: September – 1 holiday, 6 positive and 9 negative closes
· August – 9 positive and 14 negative closes
· July - 1 holiday, 12 positive and 8 negative close
The iShares NASDAQ Biotechnology (IBB) and the SPDR S&P ETF (XBI) indicators:
- Friday, the IBB was down -0.40% and the XBI was down -1%
- Thursday, the IBB was down -1.27% and the XBI was down -0.86%
- Wednesday, the IBB was down -0.86% and the XBI was down -2.18%
- Tuesday, the IBB was up +0.37% and the XBI was up +0.05%
- Monday, the IBB was down -1.07% and the XBI was down -1.50%
The CBOE Volatility Index (VVIX: INDEX) tracked:
- Friday was down -0.34 point or -1.94% at 17.20
- Thursday was up +2.16 point or +14.27% at 17.29
- Wednesday was up +0.61 point or +4.32% at 14.72
- Tuesday was up +0.12 point or +0.86% at 14.11
- Monday was up +0.29 point or +2.10% at 14.08
Closing Down (10 of 22):
- Alnylam Pharmaceuticals (ALNY -$2.30 and Thursday’s -$1.67),
- Beam Therapeutics (BEAM -$1.20 after Thursday’s -$0.27, Wednesday’s +$0.73, Tuesday’s +$0.19 and Monday’s -$0.74),
- Intellia Therapeutics (NTLA -$1.14 after Thursday’s -$0.46, Wednesday’s -$0.38, Tuesday’s -$0.65 and Monday’s -$0.80),
- CRISPR Therapeutics (CRSP -$0.57 after Thursday’s -$0.50, Wednesday’s -$0.86, Tuesday’s -$0.22 and Monday’s -$2.94),
- Regenxbio (RGNX -$0.51 after Thursday’s +$0.05, Wednesday’s -$0.33, Tuesday’s +$0.08 and Monday’s +$0.03),
- Verve Therapeutics (VERV -$0.36 after Thursday’s -$0.36),
- Vericel (VCEL -$0.19 after Thursday’s +$1.67, Wednesday’s -$5.15 and Tuesday’s -$0.28),
- Ultragenyx Pharmaceuticals (RARE -$0.18),
- Caribou Biosciences (CRBU -$0.170,
- Generation Bio (GBIO -$0.16),
- Harvard Apparatus RN (HRGN $0.00 after Thursday’s $0.00, Wednesday’s $0.00, Tuesday’s -$0.09 and Monday’s $0.00)
- uniQure NV (QURE)
- Homology Medicine (FIXX $0.00 after Thursday’s-$0.38),
- Precigen (PGEN)
Closing Up (9 of 9):
- BioLife Solutions (BLFS +$0.47),
- Ionis Pharmaceuticals (IONS +$0.23),
- Blueprint Medicine (BPMC +$0.15 after Thursday’s -$1.20, Wednesday’s -$0.76, Tuesday’s -$0.86 and Monday’s +$1.57),
- Adverum Biotechnologies (ADVM +$0.13),
- Bellicum Pharmaceuticals (BLCM +$0.1079 after Thursday’s +$0.0418),
- Compass Therapeutics (CMPX +$0.09),
- Cellectis SA (CLLS +$0.05 after Thursday’s +$0.01 an Wednesday ‘s +$0.01),
- Solid Biosciences (SLDB +$0.02),
- Graphite Bio (GRPH +$0.01)
Q3/23 – September
- Friday closed negative with 9 incliners, 22 decliners and 4 flats
- Thursday closed negative with 8 incliners, 25 decliners and 2 flats
- Wednesday closed negative with 3 incliners, 31 decliners and 1 flat
- Tuesday closed negative with 17 incliners, 18 decliners and 0 flat
- Monday closed negative with 11 incliners, 22 decliners and 2 flats
The BOTTOM LINE: I try to keep it simple … and short!
When you point one finger, there are three fingers pointing back at you!
If you want facts to interpret share pricing realities to save your portfolio for cautious decisions, bookmark this site!
Every day, I “make my bones;” it’s time for you to step-up for continued access to what one industry CEO calls the “bible” for smart investing in the RegMed, gene and cell therapy sector.
Contributing to today’s (9/22) downdraft … fear of inflation and its resulting market forces:
- Indexes have turned wary in recent days as they assessed the impact on consumer and business demand from the Fed's message that it would keep borrowing costs high to quell inflation. The Fed’s chair Powell, did little to bolster hopes the US economy would avoid recession.
- S&P Global said its flash US Composite PMI index came in at 50.1 in September, slightly down from 50.2 in August, in a sign of stagnating business activity.
- The UAW said it would ratchet up walkouts in its intensifying strike against GM (GM), Ford (F) and Stellantis (STLA), with Friday as a deadline.
The cell and gene therapy sector equities got share pricing “deeper” on Friday, Thursday, Wednesday, Tuesday, Monday and after the previous Friday’s negative close.
As I have written, too many factors are calling the ball on share pricing – algorithms and electronic trading, here and there sentiment, economics, upcoming Q3 earnings.
I STILL believe the political aspect of the country’s leanings, polarization, and disparities of the debt ceilings arguments are contributing to the roller coaster ride for share pricing actions.
It’s still about the economy … STUPID as investors congest a raft of economic reports pointing to … tamer core inflation data and a spending consumer.
Right up front, “I also 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!”
Being “greedy when others are fearful” is easier said than done!
When a cell and gene therapy sector equity sells-off to or below a buy point, investors face a tough decision: hold tight, exit or trim the position. There's not necessarily a "right" answer. Sometimes the stock will bounce right back, others will keep falling — perhaps after briefly bouncing. A more-cautious approach may make more sense in the current volatile market.
The top three (3) performing in the session:
Friday: BioLife Solutions (BLFS), Ionis Pharmaceuticals (IONS) and Blueprint Medicines (BPMC),
Thursday: Vericel (VCEL), Ultragenyx Pharmaceuticals (RARE) and Regenxbio (RGNX)
Wednesday: Beam Therapeutics (BEAM), Precigen (PGEN) and Adverum Biotechnologies (ADVM)
Tuesday: MiMedx (MDXG), uniQure NV (QURE) and Caribou Biosciences (CRBU)
Monday: Fate Therapeutics (FATE) and Voyager Therapeutics (VYGR)
The worst three (3) in the session:
Friday: Alnylam Pharmaceuticals (ALNY) – 7x, Beam Therapeutics (BEAM) and Intellia Therapeutics (NTLA)
Thursday: Alnylam Pharmaceuticals (ALNY) – 6x, Blueprint Medicines (BPMC) -3x and CRISPR Therapeutics (CRSP) – 3x
Wednesday: Vericel (VCEL), Blueprint Medicines (BPMC) and CRISPR Therapeutics (CRSP)
Tuesday: Alnylam Pharmaceuticals (ALNY) – 4x, Blueprint Medicines (BPMC) and Intellia Therapeutics (NTLA)
Monday: Alnylam Pharmaceuticals (ALNY) – 3x, CRISPR Therapeutics (CRSP) and Ultragenyx Pharmaceuticals (RARE) – 3x
I am definitely considered a contrarian depending on the session – one has to be a watcher of the ups and downs as well as measurer of sentiment. I am also a NO trust investor but, a validate and verify journalist/analyst.
The NO spin zone! U.S. public shareholders deserve accountability …
Harvard Apparatus Regenerative Technology (HRGN) formerly Biostage (OTCQB: BSTG) … as of 7/20/23 -- so many issues according to the 8-K and 10-K!
Still labeled a … Going Concern
· HRGN has incurred substantial operating losses since its inception, and as of June 30, 2023 had an accumulated deficit of approximately $88.5 million and will require additional financing to fund future operations.
· HRGN will NEED to raise additional funds to fund its operations. WHO and WHICH U.S. investors would INVEST in a BASICALLY Chinese company with their history??
· Question #1, As they continue pumping the price “pump share pricing and promote volume” just like a Ponzi scheme??? Notice the volume today – 5,398 shares traded <3-month average = 1,498 shares> to close FLAT?
· Question #2, did you notice how it barely trades unless volume is “pump” – is it by DST, run by the president of HRGN, Hong Yu and Mrs. Mrs. bin Zhao of Weston, Mass – funded by Lui Dong Hai, chairman of Dixintong Technology Group (D. Phone, the largest smartphone retailer in China) the husband of Mrs. bin Zhao??
· Questions #3, Is the current or future investment coming directly or indirectly from those associated with two (2) directors of BSTG, Jason Jing Chen (chairman of BSTG’s board of directors who resides in Beijing, China and is employed by a subsidiary of Dixintong technology Group – D. Phone, the largest cell phone company in China), Ting Li (Donghai Securities Co., Ltd) - all reside in China – what are their affiliations with China’s security service - MSS??
· This week’s closes – Friday’s $0.00 after Thursday’s $0.00, Wednesday’s $0.00, Tuesday’s -$0.09 and Monday’s $0.00)
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. 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.
Henry McCusker, the editor, and publisher of RegMed Investors does not hold or have positions in securities referred to in this publication. 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.