February 15, 2024 7:25am
A sweep of the portfolio downside risks pre-earnings usually needed; with another round of economic data
Earnings: Blueprint Medicine (BPMC), Alnylam Pharmaceuticals (ALNY) and Ultragenyx Pharmaceuticals (RARE)
News: Mesoblast (MESO +$0.08 or +1.55% having closed +$0.03) the FDA has granted its allogeneic cell therapy Revascor® (rexlemestrocel-L) an Orphan-Drug Designation (ODD) following submission of results from the randomized controlled trial in children with hypoplastic left heart syndrome (HLHS), a potentially life-threatening congenital heart condition. This follows the Rare Pediatric Disease Designation (RPDD) granted by FDA last month.
Pre-open Indications: 1 Sell into Strength, 1 Positive and 4 Negative Indications
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Updated:
RegMed Investors (RMi) Research Note: Prime Medicine (PRME) Prices 19 million share offering at $6.25 … https://www.regmedinvestors.com/articles/13331
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.”
Thursday: The pre-open Dow futures are UP +0.07% or (+27 points), the S&P futures are UP +0.12% or (+6 points) as the Nasdaq futures are UP +0.16% or (+29 points)
Stock futures rose on Thursday,
European stock markets were higher,
Asia-Pacific markets rebounded.
Henry’omics:
We need to more than consider the economic environment to comprehend the micro re “our” universe of cell and gene therapy companies …
Wednesday, indexes rose clawing-back some of Tuesday’s steep losses suffered; The Dow closed UP +151.52 points or +0.40%, the S&P closed UP +47.45 points +0.96% while the Nasdaq closed UP +203.55 points or +1.30%.
Economic Data Docket: January retail sales and weekly unemployment claims data
Wednesday’s night RegMed Investors (RMi) Closing Bell: “yippee-kai-yay. An expression of joy as sector rebounds from Tuesday’s CPI induced abyss fall.” … https://www.regmedinvestors.com/articles/13330
Q1/24: February – 6 positive and 4 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:
Wednesday, Tuesday, Monday, Friday, Thursday and last Wednesday’s closing “numbers” with aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Ultragenyx Pharmaceuticals (RARE) closed up +$1.68 after Tuesday’s -$2.76, Monday’s +$0.01, Friday’s +$1.28 and last Thursday’s +$0.74 with a positive +$0.05 or +0.11% pre-open indication.
Positive Indication:
Wednesday, Tuesday, Monday, Friday, Thursday and last Wednesday’s closing “numbers” with aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Mesoblast (MESO) closed up +$0.08 with a positive +$0.03 or +1.55% pre-open indication.
Negative Indications:
Wednesday, Tuesday, Monday, Friday, Thursday and last Wednesday’s closing “numbers” with aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Agenus (AGEN) closed up +$0.1678 or +22.08% after Tuesday’s- $0.05 and Monday’s +$0.06 with a negative+-$0.05 or +5.61% pre-open indication.
Prime Medicine (PRME) closed up +$0.24 with a negative -$0.50 or -7.36% pre-open indication re new offering proposed.
Sage Therapeutics (SAGE) closed up +$2.73, after Tuesday’s -$0.61 and Monday’s +$0.14 with a negative -$0.20 or -0.78% pre-open indication.
Vericel (VCEL) closed up +$1.61, after Tuesday’s -$1.47, Monday’s +$0.64, Friday’s +$0.93 after last Thursday’s +$1.62 with a negative -$0.31 or -0.65% pre-open indication.
The BOTTOM LINE: cell and gene therapy sector equities on Wednesday did not erase all of the losses from Tuesday’s sell-off following the CPI <inflation> report.
- The REAL question for investors remains: Was Tuesday's rout a one-off, or the start of something bigger?
I reiterate, “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.
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.
