November 9, 2023 7:36am
What, where and when are the drivers and catalysts of share pricing
Earnings: Intellia Therapeutics (NTLA)
Pre-Open Indications: 4 Positive and 2 Negative Indications
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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 could happen or materialize
The pre-open Dow futures are UP +0.12% or (+42 points), the S&P is UP +0.09% or (+4 points) as the Nasdaq is DOWN -0.07% or (-11 points)
Futures are mixed on Thursday,
European markets were higher,
Asia-Pacific markets mostly rose.
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 slipped mixed on Wednesday as the Dow closed DOWN -40.33 points or -0.12%, the S&P closed UP +4.40 points or +0.10% while the Nasdaq closed UP +10.56 points or +0.08%.
Economic Data Docket: Initial jobless claims, week ended Nov. 4 (218,000 expected, 217,000 previously)
Wednesday’s - RegMed Investors (RMi) Closing Bell: cell and gene therapy sector is punished for LPS (loss-per-share) in earnings season.” … https://www.regmedinvestors.com/articles/13199
Ebb and flow:
Q4: November – 4 positive and 2 negative closes
· October – 1 sick day, 9 positive and 12 negative closes
Companies in my headlights – It’s your decision; I provide ideas and context: looking for lost SHEAP …
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.
Wednesday’s closing price, some Tuesday, Monday's closing “numbers” with aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Blueprint Medicine (BPMC) closed down -$1.36 after Tuesday’s +$1.89 and Monday’s -$1.04 with a negative -$0.50 or -0.84% aftermarket indication
Vericel (VCEL) closed down -$1.24 with a negative -$1.27 or -3.60% aftermarket indication.
Wednesday’s closing price, some Tuesday, Monday, Friday, Thursday’s closing “numbers” with aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Alnylam Pharmaceuticals (ALNY) closed down -$0.80 after Tuesday’s +$3.05, Monday’s -$0.20, Friday’s +$5.82 after Thursday’s +$4.53 with a positive +$0.90 or +0.53% aftermarket indication.
Beam Therapeutics (BEAM) closed down -$2.09 after Tuesday’s +$1.69 and Monday’s -$1.19 with a positive +$0.30 or +1.31% aftermarket indication.
Prime Medicine (PRME) closed down -$0.81, Tuesday’s -$0.55 and Monday’s -$0.04 with a positive +$0.06 or +0.80% aftermarket indication.
Regenxbio (RGNX) closed down -$0.03 after Tuesday’s +$0.65 after Monday’s +$0.46 with a $0.45 or +2.74% aftermarket indication
The BOTTOM LINE: I am in search of targets; bottoms and temporary highs?
- The Nasdaq rebounded from modest losses to eke out tiny gains, extending long winning streaks.
- The worst three (3) in the session: Wednesday: CRISPR Therapeutics (CRSP), Beam Therapeutics (BEAM) and Verve Therapeutics (VERV)
- I follow the dictum, quoting Churchill that “short words are best, and the old words when short are best of all.”
- Reiterating, the rally that start in November — historically the strongest month for stocks of the year — resembles a bear market rally rather than a sign of market strength.
Today’s relevancy from Wednesday’s to Thursday's session:
- Investors should be very cautious, holding to some positions and building cash if possible!
- Market breadth was once again weaker
- Market breadth was once again weaker
Economic Data: coming …
- Friday - University of Michigan consumer sentiment, November preliminary (64.0 expected, 63.8 previously)
What the sector patterns and markets are telling me:
- Sliding Treasury yields
- Technical and fundamental support is missing,
- A sentiment factor driven by algorithms and electronic trading,
- The ongoing Israel-Hamas war has raised questions of a potential oil supply crunch and a resulting rise in fuel prices if the geopolitical instability spreads to neighboring oil producers in the region.
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.