December 27, 2023 4:45pm

There were no catalysts and minimal trading activity to see the extension of an upside trend

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With no sigh of relief, I try to answer or qualify one question, in which company should investors put, keep and commit their money

Ask yourself, do you know why you own certain equity?

 

Wednesday: The Dow closed UP +111.19 points or +0.30%, the S&P closed UP +6.83 points or +0.14% while the Nasdaq closed UP +24.60 points or +0.16%

 

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 up marking to the upside ….

 

RegMed/Stem/Cell and Gene Therapy’s 35 covered equities’ Advance/Decline (A/D) lines: what happened – differences …

  • Wednesday’s advance/decline line was negative at the open with 13 incliners, 21 decliners and 1 flat, ending with a negative close of 16 incliners, 19 decliners and 0 flat

 

Ebb and flow of MY covered sector cell and gene therapy session daily “endings”:

Q4:  December – 1 holiday, 8 negative and 10 positive closes

  • November – 11 positives, 1 holiday and 10 negative closes
  • October – 12 negative and 10 positive closes

 

Key Metrics:

The iShares NASDAQ Biotechnology (IBB) and the SPDR S&P ETF (XBI) indicators:

  • Wednesday, the IBB was up +1.36% and the XBI was up +1.54%

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Wednesday was down -0.56 point or -4.31% at 12.43

 

Wednesday’s Closing Down (10 of 19):

  • Ionis Pharmaceuticals (IONS -$1.14 after Tuesday’s +$0.11),
  • Vericel (VCEL -$0.93 after Tuesday’s +$1.56),
  • Beam Therapeutics (BEAM -$0.74 after Tuesday’s +$0.34),
  • Intellia Therapeutics (NTLA -$0.60 after Tuesday’s +$0.98),
  • CRISPR Therapeutics (CRSP -$0.37 after Tuesday’s +$1.66),
  • Editas Medicine (EDIT -$0.28 after Tuesday’s -$0.17),
  • Caribou BioSciences (CRBU-$0.25 after Tuesday’s -$0.01)
  • uniQure NV (QURE -$0.20 after Tuesday’s +$0.68),
  • AxoGen (AXGN -$0.15),
  • Verve Therapeutics (VERV -$0.14 after Tuesday’s +$0.542),

Wednesday’s Closing Up (10 of 16):

  • Alnylam Pharmaceuticals (ALNY +$5.37),
  • Blueprint Medicine (BPMC +$2.03 after Tuesday’s +$1.98),
  • Ultragenyx Pharmaceuticals (RARE +$1.57),
  • Harvard Apparatus GN (HRGN +$0.44 after Tuesday’s -$0.47)
  • Solid Biosciences (SLDB +$0.34 after Tuesday’s +$0.80),
  • Prime Medine (PRME +$0.21 after Tuesday’s -$0.02)
  • BioLife Solutions (BLFS +$0.20 after Tuesday’s +$0.63),
  • Graphite Bio (GRPH +$0.13),
  • Regenxbio (RGNX +$0.12),
  • Sage Therapeutics (SAGE +$0.09 after Tuesday’s +$0.32),

 

Q4/23 – December

  • Wednesday closed negative with 16 incliners, 19 decliners and 0 flat

 

 

The BOTTOM LINE: I got the “vid” – covid – didn’t make for a happy, happy holiday week pre–New Year but I make the most of is as I was cook, cleaner, bottle washer (plus drinker) and playing doctor for the “babe” wasn’t fun as we finish 2023!

Wednesday’s backdrop:

  • Volume was light and the three major U.S. stock indexes oscillated between modest gains and losses, with all three on course for monthly, quarterly, and annual gains.
  • Reaching a new record close would confirm the bellwether index entered a bull market when it reached the bear market closing trough in October 2022. <Reuters>

Question: How long will the Santa Claus rally last?

  • Thin liquidity conditions exacerbate the so-called 'Santa Claus rally' in equities ahead of the turn of the year.  

The three major indexes remain on pace for notable gains this month, quarter and year with just three sessions left by all three measures:

Here’s how much the three have gained in December:

  • The Dow has gained 4.4%.
  • The S&P 500 has gained 4.5%.
  • The Nasdaq has gained 6%.

Here’s the advances over the fourth quarter:

  • The Dow has gained 12.1%.
  • The S&P 500 has gained 11.4%.
  • The Nasdaq has gained 14%.

Here’s where the three stand on the year:

  • The Dow has gained 13.3%.
  • The S&P 500 has gained 24.4%.
  • The Nasdaq has gained 44%, on pace for its best year since 2003. <Alex Harring, CNBC>

It's time to think beyond December’s end and 2024’s Q1.

  • Don’t FORGET portfolio December tax selling and a bit of rebalancing … “Investors NEED to start formulating their portfolio outlook into next year.”
  • We’ve got three days left of tax harvesting, three days of portfolio window dressing ...
  • It might be prudent to harvest and cash but, it’s too late … wait for 2nd or 3rd of January for tax purposes following the past month’s dramatic rally.
  • And then comes January and with worries that the U.S. economy will be slowing down, the potential for continued Middle East violence and, of course, the real prospect of bitterly contested elections across all of the United States. <The Street>

The top three (3) performing in the session:

  • Wednesday: Alnylam Pharmaceuticals (ALNY), Blueprint Medicine (BPMC) and Ultragenyx Pharmaceuticals (RARE)
  • Tuesday: Blueprint Medicine (BPMC), CRISPR Therapeutics (CRSP) and Vericel (VCEL)
  • Monday: holiday

The worst three (3) in the session:

  • Wednesday: Vericel (VCEL), Ionis Pharmaceuticals (IONS) and Intellia Therapeutics (NTLA)
  • Tuesday: Harvard Apparatus GN (HRGN), Editas Medicine (EDIT) and Generation Bio (GBIO)
  • Monday: holiday

Welcome to my world of defining the “grey’ in our universe!

  • Right up front, “I also hate to be so negative or contrarian but, this is a NO spin zone and facts are 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. 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.