November 26, 2024 4:47pm
The cell and gene therapy sector ran the gauntlet as value flowed down, up, down to close up positive
The U.S. market is closed Thursday for the Thanksgiving holiday and set to close early on Friday
It’s about defining insight. Who speaks out while standing in-front, beside and behind investors – RMi
Never leave an investor uninformed!
On point, short on words, long on facts and being judicious!
It’s hard to be right so often, it’s about defining insight. Who speaks out while standing in-front, beside and behind investors – RMi
Tuesday: The Dow closed UP +123.74 points or +0.28%, the S&P closed UP +34.26 points or +0.57% while the Nasdaq closed UP +119.46 points or +0.63%
- Indexes closed in record territory as “Markets have become a lot more comfortable with the prospects of these tariffs being more bluster and more negotiating tactics than actual implementation” <J Cox, Harris Financial>
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
- The Fed meeting released said it expects interest rate cuts in the future, but to only expect them “gradually” as Fed officials appeared divided at their meeting
- The Consumer Confidence Index rose from 111.3 in October to 111.7 in November, reaching its highest level in nearly 2 years, aided by an improving labor market and easing concerns about a potential recession.
Tuesday’s advance/decline line at the open was negative with 12 incliners, 20 declined and 3 flats; ending with a positive close at the close of 23 incliner, 11 decliners and 2 flats
- Up, down, up, down and up again through the sector share pricing during the session
Metrics: Tuesday, the IBB was up +0.32%, the XBI was up +1.22% while the VIX was down -0.49 points or -3.36% at 14.11
Monday: The Dow closed UP +440.06 points or +0.99%, the S&P closed UP +18.03 points or +0.30% while the Nasdaq closed UP +51.18 points or +0.27%
- Touched new records on Monday, kicking off the shortened trading week
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
- For once, NONE
Monday’s advance/decline line at the open was positive with 31 incliners, 1 declined and 3 flats; ending with a positive close at the close of 28 incliner, 6 decliners and 1 flat
- A wider sector rally than Friday
Metrics: Monday, the IBB was up +1.95%, the XBI was up +1.39% while the VIX was down -0.46 points or -3.03% at 14.78
Ebb and flow of MY covered sector cell and gene therapy session daily “endings”:
Q4/24 November – 9 negative and 9 positive closes
- October: 8 positive and 15 negative sessions
Tuesday’s Closing Down (11 of 11):
- Moderna (MRNA -$1.61 after Monday’s +$2.56),
- CRISPR Therapeutics (CRSP -$1.09 after Monday’s +$2.52),
- Beam Therapeutics (BEAM -$0.81 after Monday’s +$1.60),
- Editas Medicine (EDIT -$0.17 after Monday’s -$0.06),
- Agenus (AGEN -$0.17),
- Ionis Pharmaceuticals (IONS -$0.09 after Monday’s +$1.45),
- Voyager Therapeutics (VYGR -$0.08),
- Solid Biosciences (SLDB -$0.08 after Monday’s +$0.45),
- Precigen (PGEN -$0.07)
- Intellia Therapeutics (NTLA -$0.06 after Monday’s +$0.49)
- Regenxbio (RGNX -$0.03 after Monday’s -$0.01)
Flat (2):
- Caribou Biosciences (CRBU)
- Homology Medicine (FIXX)
Tuesday’s Closing Up (10 of 23):
- Alnylam Pharmaceuticals (ALNY +$2.37 after Monday’s +$6.09),
- Blueprint Medicine (BPMC +$0.76 after Monday’s -$0.28),
- Sage Therapeutics (SAGE +$0.48),
- Lenz Therapeutics (LENZ +$0.37),
- BioLife Solutions (BLFS +$0.29 after Monday’s +$0.76),
- Fate Therapeutics (FATE +$0.26),
- Ultragenyx Pharmaceuticals (RARE +$0.24 after Monday’s -$0.12),
- Brainstorm Cell Therapeutics (BCLI +$0.20),
- Sangamo Therapeutics (SGMO +$0.20),
- Cellectis SA (CLLS +$0.18),
The BOTTOM LINE: The cell and gene therapy sector ran the gauntlet as value flowed down, up, down and up again through the sector share pricing during the session.
As the small cap-focused Russell 2000 having notched a fresh high on Monday (marking its first new intraday record since 2021); but the index pulled back -0.8% in Tuesday’s session.
Never forget end of year tax selling and portfolio rotation due to recommendations
Get your blinders’ off … the count-down begins ... November’s 18th session … 9 positive and 9 negative closes earnings’ close out the season.
Ranking the end of October:
- 11/26 - Tuesday: closed positive with 22 incliner, 11 decliners and 2 flats
- 11/25 - Monday closed positive with 28 incliner, 6 decliners and 1 flat
- 11/22 - Friday closed positive with 25 incliner, 9 decliners and 1 flat
- 11/21 – Thursday: closed positive with 18 incliner, 16 decliners and 1 flat
- 11/20 – Wednesday: closed negative with 15 incliner, 17 decliners and 3 flats
- 11/19 – Tuesday closed positive with 19 incliner, 14 decliners and 2 flats
- 11/18 – Monday closed negative with 14 incliner, 20 decliners and 1 flat
Portfolio managers are addressing rotations as year comes to years-end.
- I keep writing about uncertainty and skepticism … and coming realities.
- Even with the potential for some market hiccups along the way, the good news is Q4 has historically skewed positively, even as sector earnings kicked the bucket down the road!
The top three (3) performing in the session:
- Tuesday: Alnylam Pharmaceuticals (ALNY), Blueprint Medicine (BPMC) and Sage Therapeutics (SAGE)
- Monday: Alnylam Pharmaceuticals (ALNY), Moderna (MRNA) and CRISPR Therapeutics (CRSP)
The worst three (3) in the session:
- Tuesday: Moderna (MRNA), CRISPR Therapeutics (CRSP) and Beam Therapeutics (BEAM)
- Monday: Vericel (VCEL), Blueprint Medicine (BPMC) and Ultragenyx Pharmaceuticals (RARE)
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.
