May 1, 2024 4:49pm

Cruising to more 4 earnings tomorrow as Fed suggests it would be appropriate to cut rates "at some point" this year

 

Pre-open Indications: 4 Hits and 0 Miss

A 360-degree review of the who, why, when and what happened in the sector as the market and economics surround your portfolio’s defense or offence.

Today is another example of the sector being what it should be … now it’s about taking a deep “earnings” LPS <loss-per-share> breath and holding it

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

The present and future value of RegMed Investors (RMi) NEWS sheds light on the stem, cell and gene therapy sector’s risks to share pricing and the sector’s upside acrobatics and potential downslides.

I write this blog/newsletter to keep the facts in evidence! 

 

Wednesday: The Dow closed UP+87.37 points or +0.23%, the S&P closed DOWN -17.30 points or -0.34% while the Nasdaq closed DOWN -52.34 points or -0.33%

 

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 were mixed as the Fed opted to hold rates steady.

Starting in June, the central bank said it will slow the pace at which it allows maturing bond proceeds to roll off its balance sheet without reinvesting them. This is a process known as quantitative tightening. <CNBC>

Economic Data Docket: The Fed opted to hold rates steady, citing a “lack of further progress” in bringing inflation back down toward its 2% goal. However, Powell ruled out the likelihood of a hike in a press conference following the decision.

 

Wednesday’s RegMed Investors’ (RMi) opening bell: “buckle up. A warning or suggestion to prepare for something literally or figuratively bumpy.” … https://www.regmedinvestors.com/articles/13442

 

Pre-open Indications: 4 Hits < Sage Therapeutics (SAGE -$0.77), Ionis Pharmaceuticals (IONS +$1.75), Mesoblast (MESO +$0.61), Regenxbio (RGNX +$0.85)> and 0 Miss

 

Advance/Decline (A/D) Line:

  • Wednesday’s advance/decline line at the open was positive with 31 incliner, 3 decliners and 1 flat; ending with a positive close of 28 incliners, 6 decliners and 1 flat

 

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

Q2/24: 1 positive close

  • April; 16 negative and 6 positive closes

 

Key Metrics:

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

  • Wednesday, the IBB was up +2.02% and the XBI was up +3.20%

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Wednesday was down -0.26 point or -1.66% at 15.39

 

Wednesday’s Closing Down (6 of 6):

  • Sage Therapeutics (SAGE -$0.66),
  • BioLife Solutions (BLFS -$0.06),
  • Lenz Therapeutics (LENZ -$0.06 after Tuesday’s -$0.63 after Monday’s +$0.78) <was Graphite Bio (GRPH)>,
  • Cellectis SA (CLLS -$0.024),
  • Verve Therapeutics (VERV -$0.01),
  • Bellicum Pharmaceuticals (BLCM -$0.0054),

Flat (1):

  • Harvard Apparatus RT (OTCQB: HRGN $0.00 after Monday’s $0.00)

Wednesday’s Closing Up (10 of 28):

  • Alnylam Pharmaceuticals (ALNY +$6.01 after Tuesday’s -$3.41 after Monday’s +$4.05),
  • Blueprint Medicine (BPMC +$3.64 after Tuesday’s -$1.76),
  • Ionis Pharmaceuticals (IONS +$1.75 after Tuesday’s -$0.73),
  • Vericel (VCEL+$1.21 after Tuesday’s -$0.80 after Monday’s +$0.62),
  • MiMedx (MDXG +$1.15),
  • Agenus (AGEN +$1.14 after Tuesday’s -$0.64 after Monday’s +$1.07),
  • Intellia Therapeutics (NTLA +$1.10),
  • Regenxbio (RGNX +$0.85 after Tuesday’s -$0.70 after Monday’s -$0.14
  • CRISPR Therapeutics (CRSP +$0.82 after Tuesday’s -$1.84 after Monday’s +$0.92),
  • Ultragenyx Pharmaceuticals (RARE +$0.76 after Tuesday’s -$1.48 after Monday’s -$0.22)

 

Q2/24 – May

  • Wednesday closed positive with 28 incliners, 6 decliners and 1 flat

 

The BOTTOM LINE: April’s over; and the next few months are sure to be bumpy.

  • The cell and gene therapy sector popped after being was hammered on Tuesday after bounding on Monday and Friday’s rebound

The old saying, "Sell in May and go away" is not just folklore — stock market history supports it.

  • History shows stock market performance tends to sag from May to October compared with the November-April period. Still, investors can expect low single-digit gains over the next six months.
  • But the results have been less dramatic in the last 10 years, with the November-April period gaining 5.5% vs. a 4% increase the other six months. And the gap has widened slightly over the last five years, to 6% vs. 4%, according to Dow Jones Market Data. <IBD>

 

Q1/24 Reporting Season, it’s all about LPS (loss-per-share), cash positions and runways:

  • Alnylam Pharmaceuticals (ALNY), Ultragenyx Pharmaceuticals (RARE), AxoGen (AXGN), Blueprint Medicine (BPMC) on Thursday, 5/2;
  • Ionis Pharmaceuticals (IONS) and Agenus (AGEN) on Tuesday, 5/7
  • Vericel (VCEL)and Lenz Therapeutics (LENZ) on Wednesday, 5/8
  • BioLife Solutions (BLFS) on Thursday, 5/9

 

Reiterating:  Is Agenus (AGEN preparing for an offering … $300 common stock <134,512,851 shares>, preferred stock, warrants and debt securities … Shelf Filing … Post Effective Amendment … reasoning for the “Share Reverse”?

Agenus (AGEN) shares popped +$1.14 after Tuesday’s dive -$0.64 after jumping Monday +$1.07 after Friday’s +$3.39, Thursday’s +$0.88, Wednesday +$0.96, Tuesday’s +$0.39, Monday’s $5.70 and last Friday’s $5.31 +$0.

  • 4/12, a stock reverse of 1/20 split
  • AGEN has regained compliance with the $1.00 minimum bid price requirement set forth in NASDAQ Listing Rule 5550(a)(2). Accordingly, AGEN now satisfies all requirements for continued listing on the NASDAQ Capital Market and the matter is now closed.
  • Notice how AGEN is pushing its earnings release much earlier than is has in past!

https://d18rn0p25nwr6d.cloudfront.net/CIK-0001098972/2aeed437-11b5-4133-be70-d8c22ec43843.pdf

  • A sales agreement prospectus supplement that covers the potential offering, issuance and sale from time to time of up to 134,512,851 shares of Agenus’ common stock pursuant to a sales agreement with B. Riley Securities, Inc. (formerly B. Riley FBR, Inc.).

 

The top three (3) performing in the session:  

  • Wednesday: Alnylam Pharmaceuticals (ALNY), Blueprint Medicine (BPMC) and Ionis pharmaceuticals (IONS)
  • Tuesday: Adverum Biotechnologies (ADVM), Solid Biosciences (SLDB) and uniQure NV (QURE)
  • Monday: Alnylam Pharmaceuticals (ALNY), Agenus (AGEN) and Intellia Therapeutics (NTLA)

The worst three (3) in the session:

  • Wednesday: Sage Therapeutics (SAGE), BioLife Solutions (BLFS) and Lenz Therapeutics (LENZ)
  • Tuesday: Alnylam Pharmaceuticals (ALNY), Blueprint Medicine (BPMC), and CRISPR Therapeutics (CRSP)
  • Monday: Ultragenyx Pharmaceuticals (RARE), Solid Biosciences (SLDB) and Regenxbio (RGNX)

 

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.