April 4, 2024 8:11am
The cell and gene therapy sector third straight sector losing session strikes an oversold chord!
Pre-open Indicators: 5 Positive and 1 Negative Indicators
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Remember that overnight and pre-open actions’ futures and global markets doesn't necessarily translate into actual trading in the today’s market session.
Framing the main takeaway … pricing, volume and volatility!
My version of the morning’s numbers is written to be informative; it’s including what happened or will beyond the headline and shapes today’s potential sector response as seen by RMi.
Thursday: The pre-open Dow futures are UP +0.25% or (+98 points), the S&P futures are UP +0.31% or (+16 points) as the Nasdaq futures are UP +0.42% or (+76 points)
Stock futures were rolling higher on Thursday,
European markets were slightly higher,
Asia-Pacific markets were higher following a sell-off.
Henry’omics:
We need to more than consider the economic environment to comprehend the micro re “our” universe of cell and gene therapy companies …
The stock market rally closed narrowly mixed Wednesday, amid mixed economic data and Fed chief Jerome Powell signaling no change to the rate-cut outlook.
- Wednesday: The Dow closed DOWN -43.10 points or -0.11%, the S&P closed UP +5.68 points or +0.11% while the Nasdaq closed UP +37.01 points or +0.23%
Economic Data Docket: initial jobless claims numbers for the week ending March 30. The U.S. trade deficit as of February
- Challenger jobs cuts, year-over-year, March (+8.8% previously); Weekly initial jobless claims, March 30 (210,000 previously)
Tuesday’s night RegMed Investors (RMi) Closing Bell: “The switch is still flipped. As I wrote, “don't let losing oversold equities become bigger losers!” … https://www.regmedinvestors.com/articles/13402
Q2/24: April - 3 negative closes
Q1/24:
- March – 8 positive and 12 negative closes
- February – 1 market holiday, 11 positive and 9 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.
Negative Indication:
Wednesday, Tuesday, Monday. Friday was holiday and last Thursday’s closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)
Vericel (VCEL) closed up +$0.07 after Tuesday’s -$1.50 and Monday’s +$0.88 with neutral indication pre-open after a negative -$1.57 or -3.06% aftermarket indication
Positive Indications:
Wednesday, Tuesday, Monday, Friday was holiday and last Thursday’s closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)
Blueprint Medicine (BPMC) closed up +$0.67 after Tuesday’s -$4.64 after Monday’s +$1.56 with a neutral pre-open after a positive +$1.26 or +1.37% aftermarket indication.
Beam Therapeutics (BEAM) closed down -$0.87 after Tuesday’s -$2.11, Monday’s-$0.38 and last Thursday’s -$0.92 with a neutral pre-open indication after a positive +$0.67 or +2.26% aftermarket indication
BioLife Solutions (BLFS) closed down -$0.28 with a neutral pre-open indication after a positive +$0.35 or +2.02% aftermarket indication
Voyager Therapeutics (VYGR) closed down -$0.56 after Tuesday’s -$0.63 and Monday’s +$1.23 with a neutral pre-open indication after a positive +$0.15 or +1.61% aftermarket indication.
Prime Medicine (PRME) closed down -$0.52 after Tuesday’s -$0.44, Monday’s -$0.24 after Thursday’s +$0.24 with a neutral pre-open indication after a positive +$0.12 or +2.07 % aftermarket indication
The BOTTOM LINE: Welcome to the casino, where risk is left at the front door entrance!
Investors should still be cautious in the current downslide sector, yet I see some oversold equities especially with Friday's jobs report on the horizon.
Our “universe” closed barely negative on Wednesday 3rd April session …
- As the sector is suffering a lot of short-term volatility and resistance nervousness.
Never forget, one of my usual lines. “The sector is … still what it is, until it isn’t and even then, it doesn’t seem to be … that is after taking a deep breath and holding it.”
I am more frequently right than consequentially wrong; if I wanted to be liked, I wouldn’t have been an analyst/journalist.
- A bit preachy, “The take-away, don’t dwell on what’s happened and follow RMi’s lesson of investing in those who guide and then meet short-term expectation.”
Wednesday ended but shines on Thursday’s session:
- The S&P 500 and Nasdaq closed higher on Wednesday after data showing the U.S. services industry growth slowed further in March, but the advance was limited after Fed Chair Powell indicated a cut in interest was still not in sight.
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.
