June 18, 2024 7:37am
Remember, the trend is your friend until it ends
News: REGENXBIO (RGNX pre-open +$0.11) successful pre-BLA meeting with FDA to support Accelerated Approval Pathway for RGX-121 for the treatment of MPS II (first gene therapy for Hunter syndrome). Submission of a rolling BLA using the accelerated approval pathway expected to start in Q3 2024. Confirmatory trial expected to begin in H2 2025
Pre-open Indications: 4 Positive and 2 Negative Indications
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.
My interpretation of the morning’s numbers is written to be informative; it’s built on what happened or will happen behind the headline today, not tomorrow or yesterday
Tuesday: The pre-open Dow futures are DOWN -0.09% or (-35 points), the S&P futures are DOWN --0.01% or (-0.75 points) as the Nasdaq futures are UP +0.15% or (+29 points)
Futures are mixed and all but flat while the Nasdaq is positive on Tuesday,
European markets were higher,
Asia-Pacific markets were higher as the Reserve Bank of Australia’s held interest rate decision at 4.35% for its 5th straight meeting.
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 +188.94 points or +0.49%, the S&P closed UP +41.63 points or +0.77% while the Nasdaq closed UP +168.14 points or +0.95%
Economic Data Docket: Retail sales, month-over-month, May (+0.3% expected, 0% previously); Retail sales ex auto and gas, May (+0.3% expected, -0.1% previously); Industrial production month-over-month, May (0.4% expected, 0% prior)
RegMed Investors (RMi) Closing bell: “squeezing the sentiment juice. Never forget sentiments an opinion, a view or judgment that blooms or withers furthering uncertainty of investor sustainability” … https://www.regmedinvestors.com/articles/13503
Q2/24:
June – 4 positive and 7 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.
Insight is about understanding perception
Positive Indications:
Monday, Friday, Thursday, Wednesday and last Tuesday’s closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)
BioLife Solutions (BLFS) closed up +$0.05 after Friday’s -$0.34 and Thursday’s -$1.23 with a neutral pre-open.
CRISPR Therapeutics (CRSP) closed down -$1.78 after Friday’s -$1.70, Thursday’s +$0.43, Wednesday’s +$2.52 and last Tuesday’s +$2.32 with a positive +$0.33 or +0.54% pre-open.
Prime Medicine (PRME) closed down -$0.76 after Friday’s -$0.79 with a neutral pre-open
Regenxbio (RGNX) closed down -$0.77 after Friday’s -$0.67 with a positive +0.11 or +0.95% pre-open as it hit a 52-week low of $11.72
Negative Indications:
Monday, Friday, Thursday, Wednesday, Tuesday’s closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)
Agenus (AGEN) closed down -$1.16 after Friday’s -$0.54 and Thursday’s -$0.92 with a neutral pre-open.
Beam Therapeutics (BEAM) closed down -$0.84 after Friday’s -$0.37, Thursday’s -$0.82, Wednesday’s +$1.81 and last Tuesday’s +$0.46 with a neutral pre-open
The BOTTOM LINE: I don’t FEEL a bullish optimism --- it’s only an up party for visits from “uncle algo and his electronic trading dwarfs”!
Reiterating, “In this period of ups, downs and uncertainty having experienced performance in the sector these months; I think investors need to SELL the HIGHS and BUY the LOWS … contrarian investment opportunities, especially in this sector that has underperformed, usually unloved—and most importantly—undervalued.”
A key reading on how consumers are holding up amid higher rates is expected today with the monthly retail sales report for May.
Markets will be closed on Wednesday for the Juneteenth holiday.
Some stats for the year:
- The S&P 500 is up 703.40 points, or 14.7%.
- The Dow is up 1,088.56 points, or 2.9%.
- The Nasdaq is up 2,845.67 points, or 19%.
- The Russell 2000 is down 5.07 points, or 0.3%.
3rd week of June, 1st session … the cell and gene therapy sector experienced a negative close …
• 2nd week of June, 5th session … negative closes on Friday and Thursday after Wednesday ascended positively as Tuesday drifted lower, retreating from Monday’s highs.
• 1st week of June: Friday and Thursday ended in the toilet after Wednesday’s positive close Tuesday negative close following Monday’s positive close.
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.
- 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.
