January 20, 2024 12:48pm

As I stated yesterday, “I’d be BUYING some dips and then slip-away before earnings estimate/consensus debacles.”

Pre-open Indication: 5 Hits and 0 Miss (hope wasn’t a technical indicator)

Never leave an investor uninformed! A trusted source of factual reporting!

The week in review

With a slight sigh of relief, I answer or qualify equity’s thrown dice, in which company should investors put or keep in their portfolio for the near and long term

Join me … in the NO spin zone. If you’re looking for sector intel, ideas and facts or Insight in a volatile climate, RMi provides the extenuating factors of share pricing.

 

Friday: The Dow closed UP +395.10 points or +1.05%, the S&P closed UP +58.87 points +1.23% while the Nasdaq closed UP +255.32 points or+1.70%

Thursday: The Dow closed UP +201.94 points or +0.54%, the S&P closed UP +41.73 points or +0.88% while the Nasdaq closed UP +200.03 points or +1.35%

Wednesday: The Dow closed DOWN -94.32 points or -0.25%, the S&P closed DOWN -26.74 points or -0.56% while the Nasdaq closed DOWN -88.72 points or -0.59%

Tuesday: The Dow closed DOWN -231.86 points or -0.62%, the S&P closed DOWN -17.85 points or -0.37% while the Nasdaq closed DOWN -28.41 points or -0.19%

Monday was a market holiday

 

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 popped 2 positive sessions after 2 down sessions with all three major averages now in positive territory for 2024.

Economic Data Dock: consumer data on Friday indicated that consumers are becoming more confident on the economy and inflation. The University of Michigan’s Survey of Consumers showed a 21.4% year-over-year jump to reach its highest level since July 2021.

 

Pre-open Indications 5 Hits < AxoGen (AXGN +$0.64), Beam Therapeutics (BEAM +$0.23), Mesoblast (MESO +$0.20), Intellia Therapeutics (NTLA+$0.31), Verve Therapeutics (VERV-$0.38)> 0 Miss >

 

Friday’s RegMed Investors’ (RMi) pre-open: “will it or a would it.  The difference between 'will' and 'would' is that 'will' is used in statements that refer to the future while 'would' is used to refer to events of the future in past tense.” …   https://www.regmedinvestors.com/articles/13293

 

Advance/Decline (A/D) Line was negative at the open with15 decliners, 20 advancers and 0 flat ending

  • Friday’s advance/line lines was negative at the open with 10 incliners, 25 decliners and 0 flat with a positive close of 21 incliners, 13 decliners and 1 flat
  • Thursday’s advance/decline line was negative at the open with 6 incliners, 28 decliners and 1 flat, ending with a negative close of 10 incliners, 25 decliners and 0 flat
  • Wednesday’s advance/decline line was negative at the open with 5 incliners, 28 decliners and 2 flats, ending with a negative close of 6 incliners, 29 decliners and 0 flat
  • Tuesday’s advance/decline line was negative at the open with 6 incliners, 28 decliners and 1 flat, ending with a negative close of 9 incliners, 25 decliners and 1 flat
  • Monday was a market holiday

 

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

  • Q1/24, week #3: 2 holiday, 8 negative and 4 positive closes

 

Key Metrics:

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

  • Friday, the IBB was up +0.47% and the XBI was down -0.01%
  • Thursday, the IBB was down -0.35% and the XBI was down -1.45%
  • Wednesday, the IBB was down -0.67% and the XBI was down -0.81%
  • Tuesday, the IBB was down -0.88% and the XBI was down -1.50%

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Friday was down -0.83 point or -5.87% at 13.80
  • Thursday was down -0.66 point or -4.;46% at 14.13]
  • Wednesday was up +0.97 point or +7.01% at 14.81
  • Tuesday was up +0.57 point or +4.30% at 13.82

 

Friday’s Closing Down (13 of 13):

  • Alnylam Pharmaceuticals (ALNY -$1.92 after Thursday’s -$2.60, Wednesday’s +$1.06 and Tuesday’s -$5.90
  • Verve Therapeutics (VERV -$0.38)
  • Caribou Biosciences (CRBU -$0.26 after Thursday’s +$0.18),
  • bluebird bio (BLUE -$0.125),
  • MiMedx (MDXG -$0.11),
  • Editas Medicine (EDIT -$0.08 after Thursday’s -$0.24 after Wednesday’s -$0.42),
  • Regenxbio (RGNX -$0.06 after Thursday’s -$0.39 after Wednesday’s -$1.11 after Tuesday’s +$0.14),
  • Compass Therapeutics (CMPX -$0.05),
  • Generation Bio (GBIO -$0.03),
  • Cellectis SA (CLLS -$0.03 after Thursday’s +$0.10),
  • Brainstorm Cell Therapeutics (BCLI -$0.0154)
  • Sage Therapeutics (SAGE -$0.01 after Thursday’s -$0.93 and Wednesday’s +$0.55),
  • Adverum Biotechnologies (ADVM -$0.0018 after Thursday’s +$0.0495),

Flat (1):

  • Graphite Bio (GRPH)

Friday’s Closing Up (10 of 21):

  • Ultragenyx Pharmaceuticals (RARE +$1.44 after Thursday’s -$0.28, Wednesday’s -$0.56 and Tuesday’s -$1.70
  • Blueprint Medicine (BPMC +$1.37 after Thursday’s +$0.30, Wednesday’s -$1.14 after Tuesday’s -$2.41),
  • CRISPR Therapeutics (CRSP +$1.01 after Thursday’s +$0.12 after Wednesday’s -$2.57 after Tuesday’s -$0.82),
  • AxoGen (AXGN +$0.64 after Thursday’s +$0.33),
  • Solid Biosciences (SLDB +$0.59 after Thursday’s -$0.55, Wednesday’s +$0.06 and Tuesday’s +$0.29),
  • Vericel (VCEL +$0.51 after Thursday’s +$1.33, Wednesday’s -$1.37 and Tuesday’s +$0.96),
  • Ionis Pharmaceuticals (IONS +$0.33 after Thursday’s -$0.64, Wednesday’s +$0.26),
  • Intellia Therapeutics (NTLA +$0.31 after Thursday’s -$0.50 after Wednesday’s -$1.02 after Tuesday’s -$0.91),
  • Voyager Therapeutics (VTGR +$0.28),
  • Beam Therapeutics (BEAM +$0.23 after Thursday’s -$0.67, Wednesday’s -$0.97 and Tuesday’s -$0.50),

 

Q1/24 – January

  • Friday closed positive with 21 incliners, 13 decliners and 1 flat
  • Thursday closed negative with 10 incliners, 25 decliners and 0 flat
  • Wednesday closed negative with 6 incliners, 29 decliners and 0 flat
  • (1/16) Tuesday closed negative with 9 incliners, 25 decliners and 1 flat
  • Monday was market holiday

 

The BOTTOM LINE: Sorry to be late, the kidney stones attacked” after the usual Saturday trip to the dump – full car of branches from the recent storm and still have not cut up the big branches as the chain saw is hiccupping.

  • Reiterating … again, “the cell and gene therapy sector has “recalibrated” its expectations and I don't think this … adjustment is completely over.”
  • The cell and gene therapy sector suddenly popped to a positive close on Friday after many a “touch” of weakness on Thursday, Wednesday, Tuesday following Monday’s holiday, the previous Friday’s negative close, Thursday’s positive close following Wednesday’s negative close.

 

Sentiment continues to slip as “our” universe is about the kick-off earnings’ LPS (loss-per-share) season as estimates and consensus usually get beaten.

  • Remember, “Pricing for gene therapies medications will continue to dominate share ascensions and downfalls!” <me>

“If investors are looking for a reason to be negative, it’s hard to find.”The 24-hour news cycle is so intense. But the fact is, a lot of it is noise and a lot of it has nothing to do with economics and personal finance. There’s so much information overload now. But to break it down and put perspective on things, what’s not to like about the stats that are coming up?” <Mitchell Goldberg, president of ClientFirst Strategy>

 THROUGHLY … I DISAGREE, it’s NOT what’s here but, what’s coming …!!

 

Today’s non-attractives to “our” universe:

  • All three major U.S. stock indexes advanced, and were on track to end the holiday-shortened week higher than last Friday's close.
  • U.S. 10-year Treasury yields continued to climb on the growing likelihood that the Fed will keep policy rates in restrictive territory for longer than many had anticipated.
  • Supply concerns arising from simmering tensions in the Middle East pushed oil prices higher for the week.
  • the University of Michigan's preliminary survey showed consumer sentiment improved in January to its highest level since the summer of 2021.
  • On the whole, the Nasdaq (macro review) recorded 64 new highs and 144 new lows.

The top three (3) performing in the session:

  • Friday: Ultragenyx Pharmaceuticals (RARE), Blueprint Medicine (BPMC) and CRISPR Therapeutics (CRSP)
  • Thursday: Vericel (VCEL), AxoGen (AXGN) and Blueprint Medicine (BPMC)
  • Wednesday: Alnylam Pharmaceuticals (ALNY), Sage Therapeutics (SAGE) and MiMedx (MDXG)
  • Tuesday: Vericel (VCEL), Solid Biosciences (SLDB) and BioLife Solutions (BLFS)
  • Monday was a market holiday

The worst three (3) in the session:  

  • Friday: Alnylam Pharmaceuticals (ALNY), Verve Therapeutics (VERV) and Caribou Biosciences (CRBU)
  • Thursday: Alnylam Pharmaceuticals (ALNY), Sage Therapeutics (SAGE) and Beam Therapeutics (BEAM)
  • Wednesday: CRISPR Therapeutics (CRSP), Blueprint Medicine (BPMC) – 2x and Vericel (VCEL)
  • Tuesday: Alnylam Pharmaceuticals (ALNY), Ionis Pharmaceuticals (IONS) and Blueprint Medicine (BPMC)
  • Monday was a market 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.