March 8, 2024 5:14pm

Just another I told you so … when it comes to cell and gene therapy sector investing and trading; the trend is NOT your friend.  Just wait a session or even a mid-day and the direction will change from tailwinds to headwinds in a way of making a striking close

Pre-open Indications: 3 Hits and 3 Miss

The Harvard Apparatus RT (OTCQB HRGN) <formerly Biostage (BSTG)> Chronicles: shows how the “pimp/pump and promote” works, it hasn't changed! <in Bottom Line>

Subscription is coming; a “buck” a day will keep your portfolio in play - be a subscriber to continue reading! A 360-degree review of the who, why, when and what happened in the sector as the market and economics surround your portfolio defense.

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

Week in Review

 

I write this blog/newsletter to inform investors with facts and supporting numbers focused on what they need to hear that others will not say or write about – facts in evidence! 

 

Reiterating … again, “the cell and gene therapy sector continues to “recalibrate” its share pricing expectations and I do NOT think this adjustment is completely over.”

 

The week that was ...

  • Friday: The Dow closed DOWN -64.24 points or -0.17%, the S&P closed DOWN -33.65 points -0.65% while the Nasdaq closed DOWN – 188.26 points or -1.16%
  • Thursday: The Dow closed UP +130.30 points or ++0.34%, the S&P closed UP +52.60 points +1.03% while the Nasdaq closed UP +241.83 points or +1.51%
  • Wednesday: The Dow closed UP +75.86 points or ++0.20%, the S&P closed UP +26.11 points +0.51% while the Nasdaq closed UP +91.96 points or +0.58%
  • Tuesday: The Dow closed DOWN -404.64 points or -1.04%, the S&P closed DOWN -52.30 points -1.02% while the Nasdaq closed DOWN -267.92 points or -1.65%
  • Monday: The Dow closed DOWN -97.55 points or -0.25%, the S&P closed DOWN -6.13 points -0.12% while the Nasdaq closed DOWN -67.43 points or -0.41%

 

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 down after a bumpy week.

Economic Data Docket: The February jobs data as reported this a.m. offered conflicting signals as to when it will be safe for the Fed to start cutting interest rates.

  • On one hand, the number of jobs added last month was much more than expected; but the unemployment rate unexpectedly ticked higher to 3.9% and wage growth was lighter than feared,

 

Pre-open Indication: 3 Hit <Beam Therapeutics (BEAM +$0.57), BioLife Solutions (BLFS +$0.10), Voyager Therapeutics (VYGR -$0.07)> and 3 MISS < Alnylam Pharmaceuticals (ALNY -$0.04), CRISPR Therapeutics (CRSP -$0.45), Vericel (VCEL +$0.38)>

 

Friday’s RegMed Investors’ (RMi) opening bell: “a lower appetite for risk. Sentiment could evaporate if Friday's monthly jobs report fails to point in the needed direction as “State of Union” addresses concerns of more taxes to spend than reduce debt.” … https://www.regmedinvestors.com/articles/13363

 

Advance/Decline (A/D) Line:

  • Friday’s advance/decline line at the open was positive with 30 incliner, 18 decliners and 1 flat; ending with a negative close of 16 incliners, 19 decliners and 0 flat
  • Thursday’s advance/decline line at the open was neutral with 17 incliner, 17 decliners and 1 flat; ending with a barely negative close of 16 incliners, 17 decliners and 2 flats
  • Wednesday’s advance/decline line at the open was positive with 20 incliner, 14 decliners and 1 flat; ending with a positive close of 21 incliners, 14 decliners and 0 flat
  • Tuesday’s advance/decline line at the open was negative with 5 incliner, 28 decliners and 2 flats; ending with a negative close of 5 incliners, 29 decliners and 1 flat
  • Monday’s advance/decline line at the open was negative with 10 incliner, 23 decliners and 2 flats; ending with a negative close of 10 incliners, 24 decliners and 1 flat

 

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

Q1/24: March, 2 positive and 4 negative closes

  • February, 1 holiday, 9 negative and 11 positive closes
  • January: 2 holiday, 12 negative and 8 positive closes

 

Key Metrics:

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

  • Friday, the IBB was up +0.24% and the XBI was up+0.;16%
  • Thursday, the IBB was up +0.33% and the XBI was down -1.34%
  • Wednesday, the IBB was up +0.53% and the XBI was up +0.66%
  • Tuesday, the IBB was down -0.84% and the XBI was down -1.29%
  • Monday, the IBB was down -0.93% and the XBI was down -0.79%

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Friday was up +0.29 point or +2.01% at 14.73
  • Thursday was down -0.10 point or -0.69% at 14.39
  • Wednesday was up +004. point or +0.28% at 14.50
  • Tuesday was up +0.95 point or +7.04% at 14.44
  • Monday was up +0.38 point or +2.90% at 13.49

 

Friday’s Closing Down (10 of 19):

  • Ionis Pharmaceuticals (IONS -$0.68 after Thursday’s +$0.38, Wednesday’s +$0.10, Tuesday’s -$0.68 and Monday’s -$0.59),
  • Regenxbio (RGNX -$0.48 after Thursday’s -$0.77, Wednesday’s -$0.61, Tuesday’s +$3.25 and Monday’s +$0.17)
  • CRISPR Therapeutics (CRSP -$0.45 after Thursday’s -$1.46, Wednesday’s -$0.16, Tuesday’s -$0.75 and Monday’s -$2.01),
  • Ultragenyx Pharmaceuticals (RARE -$0.32 after Thursday’s -$0.41, Wednesday’s -$0.21 and Tuesday’s -$1.84
  • Harvard Apparatus RT (HRGN -$0.28 after Thursday’s $0.00, Wednesday’s +$0.50 after Tuesday’s +$0.09 and Monday’s -$0.69)
  • AxoGen (AXGN -$0.27),
  • Fate Therapeutics (FATE -$0.23 after Thursday’s +$0.37 and Wednesday’s +$1.05),
  • Voyager Therapeutics (VYGR -$0.07 after Thursday’s +$0.21 and Wednesday’s +$0.13),
  • Prime Medicine (PRME -$0.06 after Thursday’s -$0.28, Wednesday’s +$0.36, Tuesday’s -$0.71 and Monday’s +$0.03),
  • uniQure NV (QURE -$0.06 after Thursday’s +$0.10 and Wednesday’s +$0.14),

Friday’s Closing Up (10 of 16):

  • Solid Biosciences (SLDB +$0.98 after Thursday’s +$0.74 and Wednesday’s -$0.08),
  • Sage Therapeutics (SAGE +$0.72 after Thursday’s +$0.24 after Wednesday’s -$0.10),
  • Beam Therapeutics (BEAM +$0.57 after Thursday’s -$1.32, Wednesday’s -$0.23 after Tuesday’s +$0.27 and Monday’s -$1.60),
  • Generation Bio (GBIO +$0.56 after Thursday’s +$0.18, Wednesday’s -$0.09, Tuesday’s +$0.10 and Monday’s +$0.14),
  • Vericel (VCEL +$0.38 after Thursday’s -$0.36 and Wednesday’s +$0.72),
  • Editas Medicine (EDIT +$0.31 after Thursday’s -$0.23),
  • Blueprint Medicine (BPMC +$0.26 after Thursday’s +$1.66 after Wednesday’s +$0.71, Tuesday’s -$1.13 and Monday’s -$4.32),
  • BioLife Solutions (BLFS +$0.10 after Thursday’s -$0.26),
  • Precigen (PGEN +$0.08),
  • Cellectis SA (CLLS +$0.08),

 

Q1/24 – March

  • Friday closed negative with 16 incliners, 19 decliners and 0 flats
  • Thursday closed negative with 16 incliners, 17 decliners and 2 flats
  • Wednesday closed positive with 21 incliners, 14 decliners and 0 flat
  • Tuesday closed negative with 5 incliners, 29 decliners and 1 flat
  • (3/4) Monday closed negative with 6 incliners, 27 decliners and 2 flats

 

The BOTTOM LINE:  As I had stated yesterday,  “Pessimism and lack of confidence” as Friday closes subsidized by Thursday’s negative sector close.

  • Nasdaq briefly hit intraday record highs but started to lose steam late morning also as the sector followed along.

 

A quote to ponder, "Today is just profit taking," said Brian Price, head of investment management for Commonwealth Financial Network who described the week as "a microcosm of the year so far" with modest pull backs and buyers stepping in.”

 

The cell and gene therapy sector closed Friday and Thursday negative after Wednesday positive close after Tuesday and Monday’s negative close following last Friday’s closed positive …

  • Earnings, net losses, and per-share losses, runways and guidance have begun Q4 and FY23 which WILL be crucial to continue downside force in the sector as history has taught us i.e., investors.

 

I have seen 4 net income for the Q4 and FY23 - MiMedx (MDXG) and Voyager Therapeutics (VYGR) followed by Q4 CRISPR Therapeutics (CRSP) and Beam Therapeutics (BEAM) <but each had a FY23 loss>

21 have reported … RegMed Investors (RMi) - Q4/23 & FY23 Cell and Gene Therapy Earnings Scorecard Results https://www.regmedinvestors.com/articles/11628

 

I ALSO maintain, “Don't chase the cell and gene therapy sector, especially with the Nasdaq extended.”

Short and non-sweet: SELL into STRENGTH – accumulate some “powder” i.e., cash!

 

The top three (3) performing in the session:

  • Friday: Solid Biosciences (SLDB), Sage Therapeutics (SAGE) and Beam Therapeutics (BEAM)
  • Thursday: Blueprint Medicine (BPMC), Solid Biosciences (SLDB) and Ionis Pharmaceuticals (IONS)
  • Wednesday: Fate Therapeutics (FATE), Vericel (VCEL) and Blueprint Medicine (BPMC)
  • Tuesday: Regenxbio (RGNX), and Generation Bio (GBIO)
  • Monday: Voyager therapeutics (VYGR), BioLife Solutions (BLFS) and Regenxbio (RGNX)  

The worst three (3) in the session:  

  • Friday: Ionis Pharmaceuticals (IONS), Regenxbio (RGNX) and CRISPR Therapeutics (CRSP)
  • Thursday: Beam Therapeutics (BEAM), Regenxbio (RGNX) and CRISPR Therapeutics (CRSP)
  • Wednesday: Regenxbio (RGNX), Intellia Therapeutics (NTLA) and Beam Therapeutics (BEAM)
  • Tuesday: Intellia Therapeutics (NTLA), Ultragenyx Pharmaceuticals (RARE) and AxoGen (AXGN)
  • Monday: CRISPR Therapeutics (CRSP), Blueprint Medicine (BLMC) and Alnylam Pharmaceuticals (ALNY)

 

BEWARE… How MANY TIMES AM I RIGHT … MORE than MOST!!

The Harvard Apparatus RT (OTC QB HRGN) formerly the Biostage (BSTG) Chronicles: shows how the “pimp/pump and promote” works …my treatise is VALIDATED!

  • Friday closed down -$0.28 with 914 shares traded
  • Thursday closed flat with 7 shares traded
  • Wednesday closed up +$0.50 with 500 shares traded
  • Tuesday closed up +$0.0-9 with 851 shares traded
  • (3/4) Monday closed down -$0.69 with 10,409 shares traded (aver 3-mo= 2,765 shares)
  • (3/1) Friday closed up +$0.05 with 15,125 shares traded
  • Thursday closed down -$0.05 with 301 shares traded
  • Wednesday closed up +$0.05 WITH 12,187 shares traded (aver 3-mo=2,311 shares)
  • Tuesday dropped -$0.01 with 1,314 shares traded,
  • (2/26) Monday closed down -$0.09 with 350 shares traded

Did you notice how it barely trades unless volume is being “pumped.”  This question needs to be answered as HRGN is desperate to finance by any means as past Chinese private placement investors must be feeling … WHAT … TAKEN to the cleaners?

 

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.