June 14, 2024 4:48pm

Ultragenyx Pharmaceutical (RARE) Offering Update: RARE is down another $4.07 or -9.44% to $39.06 following 7.43 M share or $350 M offering being priced at $39.00. A REAL question, WHAT about the Harriet Lacks LAWSUIT and EXPOSURE which resulted in a Thermo-Fisher Scientific (NYSE: TMO) settlement last year?

As investors watch the sector and market flow, the old Abbot & Costello monologue: Who’s on first, what’s on second and I don’t know who is on third – that’s what I want to find out!”

I say today what others won't, so you can do what others can't!

Never leave an investor uninformed!

The week in review

I follow the dictum, quoting Churchill that “short words are best, and the old words when short are best of all.”

 

Friday: The Dow closed DOWN -57.94 points or -0.15%, the S&P closed DOWN -2.14 points or -0.04% while the Nasdaq closed UP +21.32 points or +0.12%

 

RegMed Investors’ (RMi) pre-open post: “a bend after a week of mixed action” … https://www.regmedinvestors.com/articles/13500

 

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 closed mixed pulling back from record highs after a decline in consumer sentiment.

Economic Data Docket: The University of Michigan’s Survey of Consumers showed that consumer sentiment declined to 65.6 in June, down from 69.1 in May. This reading also came below the 71.5 Dow Jones estimate.

  • On inflation, the one-year outlook held at 3.3% while the five-year view nudged up to 3.1%, also its highest level since November.

 

Metrics & Advance/Decline (A/D) Line:

Friday’s advance/decline line at the open was negative with 5 incliner, 27 decliners and 3 flats; ending with a negative close of 4 incliners, 29 decliners and 2 flats

  • the IBB was down -0.64% and the XBI was down -2.21%
  • the VIX up +0.72 point or +6.03% at 12.67

Thursday’s advance/decline line at the open was positive with 19 incliner, 12 decliners and 3 flats; ending with a negative close of 14 incliners, 18 decliners and 3 flats

  • the IBB was down -0.36% and the XBI was flat 0.00%
  • the VIX down -0.10 point or -0.83% at 11.94

Wednesday’s advance/decline line at the open was positive with 29 incliner, 4 decliners and 2 flats; ending with a positive close of 24 incliners, 8 decliners and 3 flats

  • the IBB was up +0.73% and the XBI was up +1.47%
  • the VIX down -0.81 point or -6.30% at 12.04

Tuesday’s advance/decline line at the open was negative with 6 incliner, 24 decliners and 5 flats; ending with a negative close of 16 incliners, 17 decliners and 2 flats

  • Tuesday, the IBB was down -0.09% and the XBI was up +0.51%
  • Tuesday, The VIX up +0.21 point or +1.65% at 12.95

Monday’s advance/decline line at the open was negative with 16 incliner, 6 decliners and 3 flats; ending with a positive close of 24 incliners, 7 decliners and 4 flats

  • Monday, the IBB was up +0.16% and the XBI was up +0.66%
  • Monday, the VIX was up +0.52 point or +4.26% at 12.74

 

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

  • June: 4 positive and 6 negative closes

 

Friday’s Closing Down (10 of 29):

  • Ultragenyx Pharmaceuticals (RARE -$4.07 after Thursday’s -$1.62, Wednesday’s +$3.24, Tuesday’s -$0.57 and Monday’s +$0.57),
  • CRISPR Therapeutics (CRSP -$1.70 after Thursday’s +$0.43 after Wednesday’s +$2.52, Tuesday’s +$2.32 and Monday’s +$2.12),
  • Vericel (VCEL -$1.06 after Thursday’s -$0.17),
  • Blueprint Medicine (BPMC -$0.84 after Thursday’s +$0.25, Wednesday’s +$0.75 and Tuesday’s +$1.36),
  • Intellia Therapeutics (NTLA -$0.81),
  • Prime Medicine (PRME -$0.79 after Thursday’s +$0.22),
  • Generation Bio (GBIO -$0.68 after Thursday’s +$0.12),
  • Regenxbio (RGNX -$0.67),
  • Solid Biosciences (SLDB -$0.61 after Thursday’s +$0.58),
  • Agenus (AGEN -$0.54 after Thursday’s -$0.92),

Flat (2):

  • Bellicum Pharmaceuticals (BLCM) – dropped)
  • Homology Medicine (FIXX) – under $1.00

Friday’s Closing Up (4 of 4):

  • Sage Therapeutics (SAGE +$0.50 after Thursday’s+$0.65),
  • Harvard Apparatus RT (OTCQB: HRGN +$0.48 after Thursday’s $0.00, Wednesday’s -$0.40, Tuesday’s -$0.07 and Monday’s $0.00)
  • Alnylam Pharmaceuticals (ALNY +$0.34 after Thursday’s +$1.01, Wednesday’s +$2.61, Tuesday’s +$2.96 and Monday’s +$0.69)
  • Brainstorm Cell Therapeutics (BCLI +$0.027)

 

The BOTTOM LINE: Check under the hood, the cell and gene therapy sector’s engine smoked needing BUYERS as its lubricant – NOT to be on Friday.

Selling was concentrated in the sector yet again …

2nd week of June, 4th session … the cell and gene therapy sector experienced negative closes on Friday and 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.

After careful examination of the sector and breathe trends, I have come away more cautious. Having lived through the rise and multiple declines of “our” universe’s stock price, investors must be better informed on what fluctuating markets can do to an equity, or what impact indications or expectations can have.

 

Today, Friday is definitely measure of sentiment, sustainability, volatility and risk!

 

Reiterating, “Net-net I am still expecting a bumpy ride for US equities as we stride through the month of June.”

  • The windsock was strong however … as I stated Thursday and Wednesday -the wind or breeze are fleeting … as I perceive a mild correction in the atmosphere.

 

The top three (3) performing in the session:  

  • Friday: Sage Therapeutics (SAGE), Harvard Apparatus RT (OTCQB: HRGN) and Alnylam Pharmaceuticals (ALNY)
  • Thursday: Alnylam Pharmaceuticals (ALNY), Sage Therapeutics (SAGE) and Solid Biosciences (SLDB)
  • Wednesday: Ultragenyx Pharmaceuticals (RARE), Alnylam Pharmaceuticals (ALNY) and CRISPR Therapeutics (CRSP)
  • Tuesday: Alnylam Pharmaceuticals (ALNY), CRISPR Therapeutics (CRSP) and Blueprint Medicine (BPMC)
  • Monday: Lenz Therapeutics (LENZ), CRISPR Therapeutics (CRSP) and BioLife Solutions (BLFS)

The worst three (3) in the session:  

  • Friday: Ultragenyx Pharmaceuticals (RARE), CRISPR Therapeutics (CRSP) and Vericel (VCEL)
  • Thursday: Ultragenyx Pharmaceuticals (RARE), BioLife Solutions (BLFS) and Agenus (AGEN)
  • Wednesday: Regenxbio (RGNX), Harvard Apparatus RT (OTCQB: HRGN) and Lenz Therapeutics (LENZ)
  • Tuesday: Ultragenyx Pharmaceuticals (RARE), Agenus (AGEN) and Solid Biosciences (SLDB)
  • Monday: Regenxbio (RGNX) and Solid Biosciences (SLDB)

 

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 it’s 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.