June 14, 2024 8:43am

News: Ultragenyx Pharmaceutical (RARE closed down -$1.52 with a pre-market -$1.94 or -4.50% to $41.18) priced an offering of 7,435,898 shares at a price to the public of $39.00 per share; also offering pre-funded warrants to purchase 1,538,501 shares of its common stock at a purchase price of $38.999 per pre-funded warrant, The aggregate gross proceeds is expected to be $350 million, In addition, RARE granted an option for an additional 1,346,153 shares.

A daily analytic read-out from RMi is constructed of specific warnings 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 today’s market session.

 

Friday: The pre-open Dow futures are DOWN -0.76% or (-297 points), the S&P futures are DOWN -0.50 % or (+27 points) as the Nasdaq futures are DOWN -0.29% or (-58 points)

Stock futures fell on Friday,

European stocks tumbled back into the red,

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 …

Thursday: The Dow closed DOWN -65.11 points or -0.17%, the S&P closed UP +12.71 points or +0.23% while the Nasdaq closed UP +59.12 points or +0.34%

Economic Data Docket: import prices, the release of the University of Michigan’s consumer sentiment index preliminary June reading.

 

Q2/24: 

June – 4 positive and 5 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.

 

Yet again, I am passing on forecasting the daily indications is focused on inflation-oriented reports and its resulting “numbers” the aftermarket fluctuated as the pre-open waits for the all-clear alarm …  it is still a mix of ups, downs and just unknowns.

 

The BOTTOM LINE: The Nasdaq is looking at risk for a pullback while much of the market is fighting around key levels. This could all turn out well, with leading stocks forging handles, pullbacks or bases followed by a broad advance. <IBD>

  • The cell and gene therapy sector dived Thursday ending with a negative close of 14 incliners, 18 decliners and 3 flats.
  • 2nd week of June, 4th session … the cell and gene therapy sector experienced another negative close on Thursday after Wednesday ascended positively as Tuesday drifted lower, retreating from Monday’s highs.
  • Last week: the cell and gene therapy sector, ended Friday and Thursday ended in the toilet after Wednesday’s positive close Tuesday negative close following Monday’s positive close.

The Nasdaq is 7.6% above its 50-day line, which is somewhat extended thanks to a handful of mega-caps. The small-cap Russell 2000 fell 0.9%, but recovered to close just above its 50-day.

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.