September 25, 2025 5:01pm

As advance/Decline (A/D) lines alternate (negative/positive closes) in 9 sector sessions in a row

“There’s real value in the cell and gene therapy sector, on down sessions it’s important for investors to access in-depth knowledge of the ups, downs and uncertainties” and comebacks

Tuesday, I wrote … “Stalled or mauled” and 1 session later, true, on target just early as usual

Never leave an investor uninformed!  

Caution needed ahead of econ release of PCE inflation data Friday; also monitor developments regarding a potential government shutdown after initial claims for unemployment insurance were well below expectations last week

The cell and gene therapy sector has seen a few too many fits and starts, as UniQure NV (QURE) tops +2.58.54% in 2 sessions … a bullish sign for the sector that sneaked-up, so don’t leave, stay invested just shuffle periodically

Remember, “The sector is what it is, until it isn’t, even if it doesn’t seem to be, it yet will be.” 

 

Wednesday’s RMi pre-open: Feet wet … https://www.regmedinvestors.com/articles/14122

Updated … RMi Research Note: Harvard Apparatus GT (OTCQB): Who is wasting lipstick on this pig? … https://www.regmedinvestors.com/articles/13812

 

Thursday: The Dow closed DOWN -173.96 points or -0.38%, the S&P closed DOWN -32.25 points or -0.50% while the Nasdaq closed DOWN -131.157 points or -0.50%

  • Theme of the session: bogged down by a follow-on pullback in Oracle (ORCL), as well as a jump in rates.

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

  • Data on initial claims for unemployment insurance came in lower than expected. First-time filings for jobless benefits were at a “seasonally adjusted” 218,000 for the week ended Sept. 20. That’s below the 235,000 that economists had estimated and 14,000 less than the previous period’s revised initial unemployment claims, which had also eased after seeing a brief spike the week before that.

Thursday’s (my) 40-company covered sector’s advance/decline line opened negative with 4 incliners, 34 decliners and 2 flats ending with a negative close of 8 incliners, 30 decliners and 2 flats

Metrics:  Thursday, the IBB was down -2.57%, the XBI was down -1.58% while the VIX was UP +0.56 points or +3.46% at 16.74

 

Q3 – 1 holiday, 9 negative and 9 positive closes

  • August – 12 negative and 9 positive closes
  • July – 1 market holiday, 13 positive and 9 negative closes

 

Thursday Closing UP (8 of 8)

  • Vertex (VRTX +$5.25 after Wednesday’s -$3.10 after Tuesday’s -$3.41),
  • uniQure NV (QURE +$5.15 after Wednesday’s +$33.84),
  • Entrada Therapeutics (TRDA +$0.43),
  • Capricor Therapeutics (CAPR +$0.33),
  • Supernus Therapeutics (SUPN +$0.08),
  • BioLife Solutions (BLFS +$0.07 after Wednesday’s -$0.64),
  • Sangamo Therapeutics (SGMO +$0.0683),
  • Mesoblast (MESO +$0.05 after Wednesday’s -$0.05),

Flat (2)

  • Brainstorm Cell Therapeutics (BCLI)
  • Compass Therapeutics (CMPX),

Thursday’s Closing DOWN (10 of 30): 

  • Alnylam Pharmaceuticals (ALNY) closed -$8.79 after Wednesday’s +$3.96, Tuesday’s -$4.61 and Monday’s +$5.36),
  • IQV Holdings (IQV -$4.61 after Wednesday’s -$5.21, Tuesday’s -$1.38 and Monday’s +$0.63),
  • BioNTech (BNTX -$1.67 after Wednesday’s +$1.48),
  • Moderna (MRNA -$1.27),
  • Arrowhead Pharma (ARWR -$1.17),
  • Intellia Therapeutics (NTLA -$1.15 after Wednesday’s +$0.68),
  • Lenz Therapeutics (LENZ closed -$1.01 after Wednesday’s +$0.51, Tuesday’s -$0.73 and Monday’s -$1.01),
  • Ionis Pharmaceuticals (IONS -$0.97 after Wednesday’s +$1.37 and Tuesday’s +$1.21),
  • Ultragenyx Pharmaceuticals (RARE -$0.94 after Wednesday’s +$0.36, Tuesday’s -$1.07 and Monday’s +$1.34),
  • CRISPR Therapeutics (CRSP -$0.73),

 

The BOTTOM LINE:  More of the … WHYs …

Thursday's session closed in negative territory for the 3rd straight day, the Dow, the Nasdaq and S&P 500 dropping.

  • In a positive sign for the labor market, jobless claims data released today showed that the number of Americans filing for unemployment dropped and continuing claims also fell slightly.
  • US Q2 GDP rose to an annualized pace of 3.8%, rebounding from a 0.6% decline in Q1 and well above estimates for a 3.3% rate of growth.
  • These 2 results, made the Fed's policy decision for October less predictable.

 

*** Lower rates could/will help the cell and gene therapy sector’s capacity and ability to raise funds in capital markets -***

 

Econs poisoned the market and sector’s water on Wednesday, as I have writer often!

  • The CBOE Volatility Index, also known as the fear gauge, rose on Thursday as stocks pulled back. The VIX opened approximately at 17.02 and closed at 16.74.

The big 3 indexes were all on track to fall for a 3rd day in a row.

  • While markets are paying attention to efforts in Congress to avert a government shutdown, market participants also timed the selling just as the S&P 500 moved into “overbought” territory.
  • ETFs focused on risk, small-caps, momentum, value, dividends, and growth were all getting hit. <Barrons>

 

Think about it: “The solid jobs data as well as a strong upward revision in Q2 gross domestic product (GDP) to 3.8%, which could mean the Fed hesitates before cutting rates again, undermining a key catalyst for the bulls.” <CNBC>

 

As investors look, I say scowl at the Fed's primary gauge for inflation later in the week — the personal consumption and expenditure index.

  • On Friday, the Fed's preferred inflation gauge, the personal consumption and expenditure index for August is expected to tick higher to 0.3% from July and rise 2.7% annually. Core inflation is seen rising 0.2% on a monthly basis and 2.9% annually.

All 3 major indexes suffered back-to-back losses in the wake of hitting new highs Monday.

  • Volume was lower on the Nasdaq compared with the same time on Tuesday.

Is a market ripple ahead: Republicans moved forward Friday on their plan to avert a partial government shutdown (9/30 deadline) and up the political pressure on Democrats to accept the GOP approach to a funding deadline looming in less than two weeks.

  • Analyst expectations across the board say this latest round of brinkmanship is more likely to end with a shutdown than recent standoffs that began with gridlock but saw last-minute concessions.
  • Markets are paying little attention so far — a pattern that has recent historical precedence.
  • One possible reason is that government shutdowns since 1995 have had little effect on stocks <IBD>

 

We seem to be always waiting for … something i.ie., anything

 

September: understand the “flow” …

  • 9/215 - Thursday closed negative with 8 positive, 30 negative and 2 flat
  • 9/24 – Wednesday closed positive with 28 positive, 11 negative and 1 flat
  • 9/23 – Tuesday closed negative with 7 positive, 32 negative and 1 flat
  • 9/22 – Monday closed positive with 31 positive, 9 negative and 0 flat

Last week:

  • 9/19 – Friday closed negative with 7 positive, 33 negative and 0 flat
  • 9/18 – Thursday closed positive with 33 positive, 6 negative and 1 flat
  • 9/17 – Wednesday closed negative with 10 positive, 30 negative and 0 flat
  • 9/16 - Tuesday closed positive with 29 positive, 9 negative and 2 flats
  • 9/15 - Monday closed negative with 17 positive, 22 negative and 1 flat

 

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

  • “I 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!”
  • If I have learned one thing as a former research analyst in a venture and public fund, operating executive, x-FBI, x-military officer and an adjunct (MBA) business school professor now a journalist; my life and your portfolio are largely tied to knowledge of price movements and questioning pricing targets and more.
  • I was once told by a “very” prominent figure early in my career, “write it right, keep it tight without hype and never lose the stride to guide the reader” – they were pretty simple instructions to follow!

 

Why do I keep repeating, so investors can make the connection …

The top three (3) performing in the session:   

  • Thursday: Vertex (VRTX), uniQure NV (QURE) and Entrada Therapeutics (TRDA)
  • Wednesday: uniQure NV (QURE), Alnylam Pharmaceuticals (ALNY) and BioNTech (BNTX)   
  • Tuesday: Ionis Pharmaceuticals (IONS), Adverum Biotechnologies (ADVM) and Arrowhead Pharmaceuticals (ARWR)
  • Monday: BioNTech (BNTX) and Intellia Therapeutics (NTLA)

The worst three (3) in the session:

  • Thursday: Alnylam Pharmaceuticals (ALNY), IQV Holdings (IQV) and BioNTech (BNTX)  
  • Wednesday: IQV Holdings (IQV), Vertex (VRTX) and Vericel (VCEL)
  • Tuesday: Vertex (VRTX), Alnylam Pharmaceuticals (ALNY) and
  • Monday: Lenz Therapeutics (LENZ), Capricor Therapeutics (CAPR) and Adverum Biotechnologies (ADVM)

 

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.