February 13, 2024 7:28am

If and when sequenced in succession creates a chain reaction

Pre-open Indications: 1 Sell into Strength, 1 Positive and 2 Negative Indications

Earnings’ reporting: Sage Therapeutics (SAGE) with Blueprint Medicine (BPMC)

News: CRISPR Therapeutics (CRSP -$1.94 after closing up $6.43) the European Commission has granted conditional marketing authorization to CASGEVY™ (exagamglogene autotemcel [exa-cel]), a CRISPR/Cas9 gene edited therapy.

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Never leave an investor uninformed!

Remember that overnight and pre-open actions’ futures and global markets doesn't necessarily translate into actual trading in the today’s market session.

There is no breadline for share pricing and fact-based intelligence!

I also follow the dictum, quoting Churchill that “short words are best, and the old words when short are best of all.”

 

Tuesday: The pre-open Dow futures are DOWN -0.19% or (-73 points), the S&P futures are DOWN -0.44% or (-22 points) as the Nasdaq futures are DOWN -0.82% or (-147 points)

Stock futures were slightly lower Tuesday as investors prepared for a key inflation report,

European markets were mostly lower,

Asia-Pacific markets were mostly rose.

 

Henry’omics:

We need to more than consider the economic environment to comprehend the micro re “our” universe of cell and gene therapy companies …

Monday, indexes closed mixed as The Dow closed UP +125.60 points or +0.33%, the S&P closed DOWN -4.77 points -0.09% while the Nasdaq closed DOWN -48.12 points or -0.30%.

Economic Data Docket: consumer price index (CPI)

  • Headline inflation is expected to have increased 0.2% month over month and 9.9% in December.
  • Core prices, which exclude volatile food and energy components, are expected to have increased 0.3% in January and 3.7% from a year earlier.

 

From the title: CRISPR Therapeutics (CRSP)

  • CASGEVY is approved for the treatment of patients who are 12 years of age and older with severe sickle cell disease (SCD) characterized by recurrent vaso-occlusive crises (VOCs) or transfusion-dependent beta thalassemia (TDT), for whom hematopoietic stem cell (HSC) transplantation is appropriate and a human leukocyte antigen matched related HSC donor is not available.
  • Vertex leads global development, manufacturing, and commercialization of CASGEVY under the terms of a 60/40 profit sharing agreement with CRISPR Therapeutics.
  • Vertex is working closely with national health authorities in the European Union (EU) to secure access for eligible patients as quickly as possible. Through this work, they have secured early access for eligible TDT patients in France ahead of the national reimbursement process.
  • Vertex continues to engage with hospitals experienced in stem cell transplantation to establish a network of independently operated authorized treatment centers (ATCs) for the administration of CASGEVY. There are currently three activated ATCs in the EU with plans to activate a total of approximately 25 centers across Europe.

 

Monday’s night RegMed Investors (RMi) Closing Bell: “testing, testing, testing the flight plan request. Sentiment control, the cell and gene therapy sector was cleared to a higher altitude to climb; what about tomorrow?” …  https://www.regmedinvestors.com/articles/13325

 

Q1/24: February – 5 positive and 3 negative closes

  • January: 2 holidays, 11 negative and 8 positive closes

 

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:

Monday, Friday, Thursday, Wednesday and last Tuesday’s closing “numbers” with aftermarket dollar ($) and cent ($0.00) value and percentage (%)

Prime Medicine (PRME) closed up +$0.55 to $7.29 after Friday’s $6.74, Thursday’s $6.73, Wednesday’s $6.50 and last Tuesday’s $6.79 with a neutral pre-open indication.

 

Positive Indication:

Monday, Friday, Thursday, Wednesday and last Tuesday’s closing “numbers” with aftermarket dollar ($) and cent ($0.00) value and percentage (%)

Regenxbio (RGNX) closed down -$0.08 after Thursday’s +$1.72, Wednesday’s +$1.52 and last Tuesday’s +$0.73 and the previous Monday’s +$0.08 with a positive +$0.49 or +2.82% pre-open indication.

 

Negative Indications:

Monday, Friday, Thursday, Wednesday and last Tuesday’s closing “numbers” with aftermarket dollar ($) and cent ($0.00) value and percentage (%)

Beam therapeutics (BEAM) closed up +$4.35 after Monday’s +$0.94, Friday’s +$0.94 after Thursday’s +$0.54, Wednesday’s -$0.31 and last Tuesday’s +$1.95 with a negative -$0.22 or -0.66% pre-open indication

CRISPR Therapeutics (CRSP) closed up $6.43 after Monday’s +$1.42, Friday’s +$1.18, Thursday’s +$3.11, Wednesday’s -$1.16, and last Tuesday’s +$2.37 with a negative -$1.94 pre-open indication

 

The BOTTOM LINE: Repeating from Monday, “Earnings’ week – 4 of them.” This week will bring a new challenge to the rally, with the January reading of the Consumer Price Index due today.

  • Also from Friday, “Don't chase the cell and gene therapy sector, especially with the Nasdaq extended.”

The remainder of the month’s trading sessions will be critical as the RegMed sector will begin earnings’ LPS (loss-per-share) season, estimates and consensus which set market reaction. 

  • Coming attractions …Q4 and FY23 reporting season will ALSO report “runways” and those whose cash positions render their future questionable.

That is WHY I focus on INDICATIONS … Skim if you can trim, buy if it will fly and sell if compelled!

  • As I wrote on last week “When it comes to short-term investing or trading; the trend is NOT your friend.”  Just wait a session and the direction will change from tailwinds to headwinds … or NOT!

Tuesday thoughts coming after Monday’s actions: market and sector are looking extended; investors should be cautious about new buys!

  • The 10-year U.S. Treasury yield dipped -1.9 basis points to 4.168% from Friday’s 4.187%.

 

"Soft CPI and soft retail sales should help boost the Fed's confidence that inflation is coming back to its target." <Marc Chandler, chief market strategist at Bannockburn Global Forex in New York>

On Monday, the Federal Reserve Bank of New York released its January Survey of Consumer Expectations, which showed inflation a year and five years from now were unchanged at readings of 3% and 2.5%, respectively. The projected rise in inflation three years from now dropped to 2.4%, the lowest since March 2020, from December's 2.6%. <Reuters>

 

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!”
  • 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.

 

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.