September 15, 2025 7:08am

Waiting for Jerome’s Fed economic rate event of the week, Wednesday at 2:30 p.m.

The cell and gene therapy sector has seen a few too many fits and starts

News: Mesoblast (MESO) launches <see below)

Pre-Open Signals: 4 Positive and 4 Negative indications

Never leave an investor uninformed … I say what others won’t, so you can do what others can’t!

News: Mesoblast Limited (MESO; ASX: MSB) commercial launch of Ryoncil® (remestemcel-L-rknd), the only mesenchymal stromal cell (MSC) product approved by the FDA, was highlighted this past week in presentations at the Morgan Stanley and Cantor Fitzgerald Annual Global Healthcare Conferences held in New York.

 

The market anticipates good Fed news and rises into it, but once the news is out, profits are sometimes taken…

Equity-only put-call ratios rolled over to buy signals in the past week. Now, both ratios are declining once again; as long as that is the case, it is bullish for stocks. <MarketWatch>

Remember that overnight and pre-open actions’ futures and markets doesn’t necessarily translate into actual trading in today’s market session.

 

Friday’s night’s … RMi Closing Bell: Trading places … https://www.regmedinvestors.com/articles/14104

RMi Research Note: Harvard Apparatus GT (OTCQB): Just another wrinkle – Q2/25’s 10-Q – liabilities exceed cash position … https://www.regmedinvestors.com/articles/13812

 

Monday: The pre-open Dow futures are UP +0.20% or (+91 points), the S&P futures are UP +0.16% or (+10 points) and the Nasdaq futures are UP +0.06% or (+15 points)

  • Stock futures are barely moving to the upside on Monday, 9/15
  • European markets traded positive and higher 
  • Asia pacific markets traded mixed with Japan and Malasia closed for a holiday

 

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

  • All 3 major averages are up for the week, so far …
  • Friday: The Dow closed DOWN -273.78 points or -0.59%, the S&P closed DOWN -3.18 points or -0.05% while the Nasdaq closed UP +98.03 points or +0.44%
  • Thursday: The Dow closed UP +617.08 points or +1.36%, the S&P closed UP +55.43 points or +0.85% while the Nasdaq closed UP +157.014 points or +0.72%
  • Wednesday: The Dow closed DOWN -220.42 points or -0.18%, the S&P closed UP +19.43 points or +0.30% while the Nasdaq closed UP +6.572 points or +0.03%
  • Tuesday: The Dow closed UP +196.39 points or +0.43%, the S&P closed UP +17.46 points or +0.27% while the Nasdaq closed UP +80.79 points or +0.37%
  • Monday: The Dow closed UP +114.09 points or +0.25%, the S&P closed UP +13.65 points or +0.21% while the Nasdaq closed UP +98.311 points or +0.45%
  • The previous Friday: The Dow closed DOWN -220.43 points or -0.48%, the S&P closed DOWN -20.58 points or -0.32% while the Nasdaq closed DOWN -7.306 points or -0.03%
  • Last week, the Dow +1.56%, S&P 500 +1.63% and the Nasdaq +1.58% al gained,
  • The previous week, the Dow lost -0.32%, the S&P 500 +0.33% and Nasdaq gained +1.14%.

Economic Data Docket: Empire State manufacturing survey

  • September (4.9 expected, 11.9 previously)

 

Q3 – September, 1 holiday, 4 negative and 5 positive closes

  • August - 11 negative and 9 positive closes
  • July – 1 market holiday, 13 positive and 9 negative closes

 

Companies in my headlights – It’s your decision; I provide ideas and context

I post about “indication intelligence” looking toward investment conferences … 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.

  • Let ‘em ride, I see a “muddy” econ laden week – as Friday’s consumer sentiment release; yet, I see red after green as September advances, along with the usual ups, downs and just plain uncertainties

Although:

Arrowhead Pharmaceuticals (ARWR) closed neutral $0.00 after Thursday’s +$0.83, Wednesday’s +$1.16, Tuesday’s +$0.56 and Monday’s -$1.91 with a negative -0.02 or -0.07% pre-open

Ionis Pharmaceuticals (IONS) closed down -$0.88 with a negative -$0.06 or -0.09% pre-open

CRISPR Therapeutics (CRSP) closed up +$0.37 after Thursday’s +$4.08 and Wednesday’s -$1.88 with a positive +$0.91 or +1.62% pre-open

IQV Holdings (IQV) closed down -$3.47 after Thursday’s +$6.77 after Wednesday’s -$5.77 and Tuesday’s +$1.99 with a positive +$0.33 or +0.18% pre-open

Vertex Pharmaceuticals (VRTX) closed down -$3.04 after Thursday’s +$8.82, Wednesday’s -$7.93, Tuesday’s +$1.23 and last Monday’s -$0.87 with a negative -$0.33 or -0.08% pre-open

Alnylam Pharmaceuticals (ALNY) closed -$2.69 after Thursday’s -$0.73, Wednesday’s -$12.82, Tuesday’s +$27.10 and last Monday’s +$3.03 with a negative -$0.88 or -0.19% pre-open

Moderna (MRNA) closed down -$1.88 after Thursday’s +$1.08 with a positive +$0.37 or +1.57% pre-open

BioNTech SE (BNTX) closed down -$7.57 after Thursday’s +$3.31, Wednesday’s -$1.09, Tuesday’s -$0.57 and last Monday’s -$9.80 with a positive +$1.69 or +1.75% pre-open

 

 

The BOTTOM LINE: A pivotal week in markets as all 3 indexes closed mixed on Friday, having logged solid weekly gains.

However, market breadth is problematic.

Even though SPX has made all-time highs, breadth is negative and the breadth oscillators are back on sell signals; this is true for both the “stocks only” data and the NYSE data.

  • … Flipping back and forth several times in recent weeks, but the bottom line is that breadth has not expanded even as SPX makes all-time highs.
  • That is a sign of negative divergence.
  • Countering this to some extent is that cumulative volume breadth (CVB) has been making all-time highs this week — at least in stocks-only terms.
  • Implied volatility, on the other hand, has been bullish for stocks. Currently, with VIX (+0.34% near 15).
  • The trend of VIX buy signal remains in place. Trouble would occur if VIX were to begin to rise — particularly if it returned to “spiking” mode and if it were to close above its 200-day moving average (currently near 19). <MarketWatch>

 

Beyond the Fed, the calendar brings a weekly update on jobless claims and fresh manufacturing data, offers supplementary signals on the strength of the economy.

 

September is in the front window: understand the “flow”

  • 9/12 - Friday closed negative with 4 positive, 34 negative and 2 flats
  • 9/11 – Thursday closed positive with 27 positive, 11 negative and 2 flats
  • 9/10 – Wednesday closed negative with 13 positive, 22 negative and 1 flat
  • 9/9 – Tuesday closed positive with 24 positive, 15 negative and 1 flat
  • 9/8 - Monday closed negative with 10 positive, 28 negative and 2 flats
  • 9/5 – Friday closed positive with 35 positive, 5 negative and 0 flat

Last week:

  • 9/4 – Thursday closed negative with 17 positive, 21 negative and 2 flats
  • 9/3 – Wednesday closed positive with 22 positive, 16 negative and 2 flats
  • 9/2 -Tuesday closed positive with 22 positive, 18 negative and 0 flat
  • 9/1 -Monday was a holiday

Earnings are in the rear-view mirror; 4 net incomes and 25 net losses of 29 releases

Interesting stat: after HHS secretary Kennedy’s nomination, the XBI biotech index “was down 8% over the next 2 days, highlighting concern among biotech investors.” <RBC Capital>

I also hate to be so negative or contrarian but, this is a NO spin zone and truth is its product; I can always be WRONG but, I am mostly EARLY!”

Welcome to my world of defining the “grey’ in our universe!

  • 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 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.