June 3, 2024 7:47am

Market enters June in a weaker state than much of May as the indexes will be testing key levels while a number of equities had come under pressure

Pre-open Indication: 4 Positive and 2 Negative Indications   

News: uniQure N.V. (QURE +$0.18) the FDA) has granted Regenerative Medicine Advanced Therapy (RMAT) designation for its investigational gene therapy AMT-130 for the treatment of Huntington’s disease. Receiving RMAT designation enables increased collaboration with the FDA on regulatory approval planning, in addition to the opportunity for expedited product development ~

A daily analytic read-out from RMi is constructed by specific warnings of challenging share pricing situations

Never leave an investor uninformed

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

 

Monday: The pre-open Dow futures are DOWN -0.07% or (-27 points), the S&P futures are UP +0.13% or (+7 points) as the Nasdaq futures are UP +0.42% or (+77 points)

  • Futures are mixed on the 1st session in June,
  • European markets started the month higher,
  • Asia Pacific markets were higher.

 

Henry’omics:

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

Friday: The Dow closed UP +595.84 points or +1.51%, the S&P closed UP +42.03 points or +0.80% while the Nasdaq closed DOWN -2.06 points or -0.01%.

Economic Data Docket: Construction Spending (April) and ISM Manufacturing (May)

  • The May jobs report, activity in the services and manufacturing sector are also expected on Friday morning while updates on job openings and private wage growth are also on the schedule.

 

Q2/24: 

June 3 – 1st session

  • May – 1 holiday, 11 positive and 11 negative closes
  • April - 16 negative and 6 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 indications:

Friday, Thursday, Wednesday, Tuesday and last Monday (a holiday) closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)

Agenus (AGEN) closed up +$0.58 after Thursday’s +$0.08 with a negative -$0.09 or -0.57% pre-open indication.

Ionis Pharmaceuticals (IONS) closed up +$1.02 with a negative -$0.07 or -0.19% pre-open indication.

 

Positive Indications:

Friday, Thursday, Wednesday, Tuesday and last Monday (a holiday) closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)

Adverum Biotechnologies (ADVM) closed up +$0.11, after Thursday’s -$0.21, Wednesday’s +$0.36 and Tuesday’s +$0.06 with a positive +$0.22 or +2.78% pre-open indication.

Blueprint Medicine (BPMC) closed down -$0.80 after Thursday’s +$5.79, Wednesday’s -$1.79 and Tuesday’s -$0.45, with a positive +$2.05 or +1.94% pre-open indication

CRISPR Therapeutics (CRSP) closed down -$0.32 with a positive +$0.26 or +0.48% pre-open indications

uniQure NV (QURE) closed up =$0.27 with a positive +$0.18 or +3.64% pre-open indication on news (from above in title).

 

The BOTTOM LINE:  Hope for a better June, although hope is not a strategy or a technical indicator.

  • The stock market rally suffered losses last week, with the major indexes breaking or testing key levels, but there was a bullish thrust Friday. <IBD>

Friday ended the month as the cell and gene therapy sector leanly improved its share pricing today and Thursday’s sessions.

  • Recapping May: 1 holiday, 11 positive and 11 negative closes – NOT a great direction showing.
  • I am still expecting a bumpy ride for cell and gene therapy equities as we enter and run-through the month of June.
  • Anyone who reads my posts, knows that I am about making money in a portfolio, no matter what happens in the sector

 

The Nasdaq topped 17,000 for the first time on Tuesday of the shortened week as it dropping below their 21-day moving averages intraday Friday before bouncing strongly at the close.

The small-cap Russell 2000 rose a fraction for the week, climbing back from Wednesday's close below its 50-day line.

 

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.

•             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.

 

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.