June 11, 2024 7:32am

As the May CPI and start of June’s Fed policy meeting conclude on Wednesday with an interest rate or no-cut policy decision befitting … or not our universe of cell and gene  therapy companies

News: Sage Therapeutics (SAGE pre-open +$0.85) announced today topline results from the P2 SURVEYOR Study. The study met its primary endpoint demonstrating a statistically significant difference as measured by the HD-Cognitive Assessment Battery (HD-CAB) composite score at baseline between healthy participants and participants with Huntington’s Disease (HD) prior to any treatment with dalzanemdor (SAGE-718) or placebo. <continued below>

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

Pre-open Indications: 2 Positive, 1 Negative and 1 Sell into Strength

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.

 

Tuesday: The pre-open Dow futures are DOWN -0.45% or (-175 points), the S&P futures are DOWN -0.33% or (-17 points) as the Nasdaq futures are DOWN -0.33% or (-62 points)

Stock futures inched lower Tuesday as investors await the start of June’s Fed policy meeting,

European markets were lower,

Asia-Pacific markets were mixed.

 

Henry’omics:

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

Monday: The Dow closed UP +69.05 points or +0.18%, the S&P closed UP +13.80 points or +0.26% while the Nasdaq closed UP +59.40 points or +0.35%

  • Also, Monday’s advance/decline line ended with a positive close of 24 incliners, 7 decliners and 4 flats

Economic Data Docket: small business data and Wednesday’s consumer price index reading for May

 

From the title: Sage Therapeutics (SAGE pre-open +$0.85) announced today topline results from the P2 SURVEYOR Study…

  • SURVEYOR (NCT05358821) was a small study with three objectives: to determine the magnitude of cognitive impairment in HD compared to healthy participants; to evaluate the safety of dalzanemdor in participants with HD; and to better understand the relationship between changes in cognition and changes in function. A total of 40 participants with HD and 29 healthy participants were enrolled. The HD-CAB, a composite battery comprised of six individual tests to assess various domains of cognition relevant to HD, was used to evaluate cognition in all study participants.
  • The study met its primary endpoint demonstrating a statistically significant difference as measured by the HD-CAB composite score at baseline between healthy participants and participants with Huntington’s Disease (HD) prior to any treatment with dalzanemdor or placebo. The baseline composite score for participants with HD was markedly lower (p < 0.0001) compared to healthy participants, further underscoring the extent of cognitive impairment associated with HD and the significant unmet need for treatment options.

 

Q2/24: 

June – 3 positive and 3 negative closes

  • 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.

Sell into Strength Indications:

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

Alnylam Pharmaceuticals (ALNY +$0.69 after Friday’s +$3.48, Thursday’s -$2.76, Wednesday’s +$2.30, Tuesday’s -$0.69 and last Monday’s +$2.02 with a positive +$1.52 or +0.99% pre-open.

 

Negative Indications:

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

Lenz Therapeutics (LENZ) closed up +$2.21 after Friday’s +$0.54, Thursday’s -$1.09, Wednesday’s +$1.45, Tuesday’s -$0.40 and last Monday’s -$0.21 with a negative -$0.29 or -1.63% pre-open.

 

Positive Indications:

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

Solid Biosciences (SLDB) closed down -$0.24 after Friday’s +$0.34 with a positive +$0.13 or +1.66% pre-open.

Sage Therapeutics (SAGE) closed up +$0.32 with a positive +$0.85 or +7.80 pre-open indication on news <above>

 

The BOTTOM LINE: I am a little bit more than skeptical this week.

Reiterating and quoting, “The May consumer price index and the Federal Reserve meeting take the spotlight in this week's economic data.”

  • Wednesday's CPI is expected to show another 0.3% increase in core prices. And the Fed policy update and new economic projections are also due Wednesday. The last set of Fed projections released in March showed policymakers led by Chair Jerome Powell narrowly backing three quarter-point rate cuts in 2024, with a hawkish minority favoring two cuts. <IBD>

There are too many knowns; yet, the few unknowns are the killers/depreciation of share pricing.

 

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.