January 22, 2024 4:46pm

As I wrote on Friday’s closing post, “I’d be BUYING some dips and then slip-away before earnings estimate/consensus debacles.”

News: MiMedx Group (MDXG +$0.28) has enhanced its capital structure by refinancing its existing indebtedness and obtaining additional borrowing capacity in support of growth objectives. These new senior secured credit facilities totaling $95 million and due in January 2029, are comprised of a $75 million revolving credit facility and a $20 million term loan facility and were obtained through a syndicate of banks comprised of Citizens and Bank of America, N.A. Ionis Pharmaceuticals (IONS +$0.03) its experimental drug reduced the occurrence of painful attacks in patients with a rare genetic disease that triggers frequent episodes of swelling called hereditary angioedema. Ionis said it is preparing to submit a marketing application with the U.S. FDA based on the data. Japan-based Otsuka, which has exclusive rights to commercialize donidalorsen in Europe, is preparing to submit an application to the European Medicines Agency,

Pre-open Indication: 5 Hits and 2 Miss

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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.

 

Monday: The Dow closed UP +138.01 points or +0.36%, the S&P closed UP +10.62 points +0.22% while the Nasdaq closed UP +49.32 points or +0.32%

 

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 rose Monday as investors built on the previous session’s historic move to record highs.

 

Pre-open Indications 5 Hits < Blueprint Medicine (BPMC +$1.97), CRISPR Therapeutics (CRSP +$3.27), Verve Therapeutics (VERV +$0.45), Mesoblast (MESO -$0.10), Solid Biosciences (SLDB -$0.24)> 2 Miss < Vericel (VCEL +$2.36), Ultragenyx Pharmaceuticals (RARE +$0.03)>  

 

Monday’s RegMed Investors’ (RMi) pre-open: “Looking for some more sector equity highs. Market breadth has been lackluster in my covered companies.” … https://www.regmedinvestors.com/articles/13295

 

Advance/Decline (A/D) Line:

  • Monday’s advance/line lines at the open was positive with 29 incliners, 5 decliners and a flat; ending with a positive close of 28 incliners, 7 decliners and 0 flat

 

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

Q1/24: 2 holiday, 8 negative and 5 positive closes

 

Key Metrics:

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

  • Monday, the IBB was up +0.33% and the XBI was up +2.27%

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Monday was down -0.09 point or -0.68% at 13.21

 

Monday’s Closing Down (7 of 7):

  • Solid Biosciences (SLDB -$0.24 after Friday’s +$0.59),
  • Alnylam Pharmaceuticals (ALNY -$0.11 after Friday’s -$1.92
  • Mesoblast (MESO -$0.10),
  • Harvard Apparatus RN (HRGN -$0.03),
  • Bellicum Pharmaceuticals (BLCM -$0.01),
  • Voyager Therapeutics (VTGR -$0.01 after Friday’s +$0.28),
  • Homology Medicine (FIXX -$0.0036)

Monday’s Closing Up (10 of 28):

  • CRISPR Therapeutics (CRSP +$3.27 after Friday’s +$1.01),
  • Vericel (VCEL +$2.36 after Friday’s +$0.51),
  • Blueprint Medicine (BPMC +$1.97 after Friday’s +$1.37),
  • Beam Therapeutics (BEAM +$1.07 after Friday’s +$0.23),
  • Intellia Therapeutics (NTLA +$0.58 after Friday’s +$0.31),
  • Regenxbio (RGNX +$ 0.46 after Friday’s -$0.06),
  • Verve Therapeutics (VERV +$0.45 after Friday’s -$0.38),
  • MiMedx (MDXG +$0.33 after Friday’s -$0.11),
  • Sage Therapeutics (SAGE +$0.26 after Friday’s -$0.01),
  • AxoGen (AXGN +$0.26 after Friday’s +$0.64),

 

Q1/24 – January

  • (1/22) Monday closed positive with 28 incliners, 7 decliners and 0 flat
  • Friday closed positive with 21 incliners, 13 decliners and 1 flat

 

The BOTTOM LINE: It’s NOT tough be right so many times if one watches the flow, the numbers and understanding the old Abbot & Costello monologue: “Who’s on first, what’s on second and I don’t know who is on third – that’s what I want to find out!”

  • Reiterating … again, “the cell and gene therapy sector has “recalibrated” its expectations and I don't think this … adjustment is completely over.”
  • Earnings and guidance are DUE and going to be crucial to continue driving force in the sector.

 

A sentiment loss: Gilead (GILD) lost -$8.86 or -10.15% to $78.43 after its cancer drug missed main goal in late-stage study.

 

A thinking investor quote, ““It’s almost like a fear of missing out,”. “We had a little bit of volatility to start the year as investors maybe rebalance portfolios and look to realize some gains. But now, it just seems like we’re resuming the trend that was clearly in place” in Q4. <Brian Price, head of investment management at Commonwealth Financial>

 

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

  • investors await reports on the personal consumption expenditure (PCE) index, S&P Global PMI readings and an advance fourth-quarter GDP print to weigh the U.S. central bank's next policy decision when it meets on Jan. 31.
  • Traders have sharply scaled back their expectations of an at least 25-basis-point rate cut first arriving in March, with focus now more on May with a 40% chance.

The top three (3) performing in the session:

  • Monday: CRISPR Therapeutics (CRSP), Vericel (VCEL) and Blueprint Medicine (BLMC)

The worst three (3) in the session:  

  • Monday: Solid Biosciences (SLDB), Alnylam Pharmaceuticals (ALNY) and Mesoblast (MESO)

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.