September 28, 2023 7:57am
Tread lightly, de-risking as Friday’s Q3 close with upcoming LPS (loss-per-share) earnings soon to disappear upsides
News: Brainstorm Cell Therapeutics (BCLI -$0.22 pre-open) the FDA’s Cellular, Tissue and Gene Therapies Advisory Committee voted that NurOwn did not demonstrate substantial evidence of effectiveness for treatment of mild to moderate ALS.
Pre-open Indications: 2 Positive, 5 Negative and 1 Sell-into-Strength Indications
My version of the morning’s “indications” is about what you need to know; it’s what could happen or materialize and what did happen at the close of the session
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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 DOWN -0.05% or (-16 points), S&P futures are DOWN -0.16% or (-6 points) and NASDAQ futures are DOWN -0.34% or (-50 points) early in the pre-open – so far
Stock futures are floating down and still fluctuating on Thursday,
European markets were lower,
Asia-Pacific markets were falling.
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 closed mixed Wednesday as the Dow closed DOWN -68.61 points or -0.20%, the S&P closed UP +0.98 points or +0.02% while the Nasdaq closed UP +29.24 points or +0.22%.
Friday marks the end of what has been a tough trading month and quarter.
Economic Data Docket: housing and the GDP and personal consumption
Wednesday’s (9/27) RegMed Investors’ (RMi) closing bell: “as I asked this a.m., how long will Tuesday’s upside last? Barely one (1) session. Often what separates a mediocre portfolio from a superior strategy is to look at the strangle hold on convention of holding and reliance on price targets.” … https://www.regmedinvestors.com/articles/13139
Ebb and flow:
Q3: September – 1 holiday, 8 positive and 10 negative closes
· August – 9 positive and 14 negative closes
· July - 1 holiday, 12 positive and 8 negative close
Companies in my headlights – It’s your decision; I provide ideas and context:
I post about “indication intelligence” devoting my time to collection and analysis of information to assist investors with insight into sector vulnerabilities and strengths. A dictionary definition of “indicate” refers to something less than a certainty; an indication could be a signal of being oversold or overbought, a recommendation, or grounds for inferring or a basis for believing.
Sell into Strength:
Wednesday’s closing price, some Tuesday, Monday, Friday, Thursday, Wednesday, Tuesday and Monday’s closing “numbers” with aftermarket dollar ($) and cent ($0.00) value and percentage (%)
BioLife Solutions (BLFS) closed up +$0.33 after Tuesday’s +$0.42 and Monday’s +$0.15 with a neutral $0.00 aftermarket indication
Negative Indications:
Wednesday’s closing price, some, Tuesday, Monday, Friday, Thursday, Wednesday, Tuesday and Monday’s closing “numbers” with aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Brainstorm Cell Therapeutics (BCLI) closed flat having trading stopped with a negative -$0.22 or -56.84% pre-open indication. Again,the FDA’s Cellular, Tissue and Gene Therapies Advisory Committee voted that NurOwn did not demonstrate substantial evidence of effectiveness for treatment of mild to moderate ALS.
Beam Therapeutics (BEAM) closed up +$0.66 after Tuesday’s +$0.59 and Monday’s -$0.75 with a negative -$0.27 or -1.11% aftermarket indication.
Ionis Pharmaceuticals (IONS) closed up +$0.85 after Tuesday’s+$3.62, Monday’s -$0.05 and last Friday’s +$0.23 with a negative -$0.57 or -1.21% pre-open indication; after jumping on news of Roche deal for two undisclosed early-stage programs for RNA-targeting investigational medicines for the treatment of Alzheimer's disease (AD) and Huntington's disease (HD).
Sage Therapeutics (SAGE) closed up +$0.47 after Tuesday’s +$1.58 with a negative -$1.62 or -7.62% pre-open indication.
Alnylam Pharmaceuticals (ALNY) closed up +$1.81 after Tuesday’s +$4.28, Monday -$0.78, Friday’s-$2.30 and last Thursday’s -$1.67 with a negative -$3.45 or -2% pre-open indication.
Positive indications:
Wednesday’s closing price, some Tuesday, Monday, Friday, Thursday, Wednesday, Tuesday and Monday’s closing “numbers” with aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Ultragenyx Pharmaceuticals (RARE) closed down -$0.50 after Tuesday’s +$0.74, Monday’s +$0.24, Friday’s -0.18 and last Thursday’s +$0.43 with a positive +$1.36 or +1.36% aftermarket indication.
Prime Medicine (PRME) closed down -$0.71 after Tuesday’s -$0.32 and Monday’s -$0.51 with a positive +$0.06 or +0.63% aftermarket indication.
The BOTTOM LINE: underlines the framework of share pricing actions...
I DEVOTE a HUGE amount of time to “reckoning” the geography of my coverage group - it’s more than opinion, I deal in the facts and numbers that back them up.
- I am more frequently right than consequentially wrong; if you want to be liked, don’t be an analyst/journalist.
On Thursday, indexes filled a mixed bag.
- Where and when is value creation as we slip to the end of September and the end of Q3 with LPS <loss-per-share> quarterly releases coming due?
Bad News: Brainstorm Cell Therapeutics (BCLI)
- The FDA’s Cellular, Tissue and Gene Therapies Advisory Committee voted that NurOwn did not demonstrate substantial evidence of effectiveness for treatment of mild to moderate ALS.
In final trading week of September and Q3, <3 sessions> the sector has gone from oversold to overbought! The sector is what it is, until it isn’t and even then, it doesn’t seem to be… as NOT much changes as the sector’s share pricing rides the waves of volatility, algorithms, electronic trading and short covering.
- Investors should be playing this market, but not for all the marbles.
- There are still reasons to be cautious about the current market.
- At any given time, not many stocks are flashing buy signals, while shakeouts and sector rotations can make holding onto positions difficult.
Another session of influencing economic …
Thursday – Q2 GDP, third estimate (+2.2% annualized rate expected, +2.1% previously); Second quarter personal consumption, third estimate (+1.7% expected, 1.7% prior); Initial jobless claims, week ended September 24 (215,000 expected, 201,000 previously); Pending home sales month-over-month, August (-1.0% expected, 0.9% previously)
Coming attraction:
- Though October is known as the “jinx month” because of the 1929 and 1987 crashes, it also has a reputation as a “bear killer,” according to the “Stock Trader’s Almanac.”
- “While October tends to be among the more volatile months of the year, it’s also the month where we usually see great buying opportunities, because it’s just before November and December, which are seasonally strong periods of the year for the markets.” <Mary Ann Bartels, chief investment strategist at Sanctuary Wealth>
I hate to be so negative or contrarian but, this is a NO spin zone and facts are its product; I am more frequently right than consequentially 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.
