September 26, 2025 5:03pm

A daily reversal as sector splits skyward after in-line or a matched expectation PCE release

After a 3-day market pullback pull buyers off the sideline

Never leave an investor uninformed! 

TGIF, “tuners” on the deck with stuffed olives

Week to date, the Dow shed -0.2%, the S&P 500 is down -0.3% and the Nasdaq has lost -0.7%

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

The “push/pull” of alternating Advance/Decline (A/D) lines is hard to watch yet there is a ‘bullish’ push; however, despite Friday’s bounce, the Russell 2000 has fallen -0.8% this week to date

 

Friday’s RMi pre-open: Anticipation as expectation … https://www.regmedinvestors.com/articles/14124

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

 

Friday: The Dow closed UP +299.97 points or +0.65%, the S&P closed UP +38.98 points or +0.59% while the Nasdaq closed UP +99.371 points or +0.44%

  • Theme of the session: release of in-line PCE inflation data pops indexes

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

  • August’s personal consumption expenditures price index showed that core inflation, a measure excluding food and energy costs – ran at a 2.9% seasonally adjusted annual rate. The all-items index showed an annual rate of 2.7% as well as a monthly gain of 0.3%, in line with expectations as well.
  • University of Michigan's consumer sentiment survey came in slightly lower than expected, which found that Americans were more pessimistic about the US economy than expected in September.

Friday’s (my) 40-company covered sector’s advance/decline line opened negative with 15 incliners, 24 decliners and 1 flat ending with a positive close of 29 incliners, 9 decliners and 2 flats

Metrics:  Friday, the IBB was up +1.89%, the XBI was up +2.09% while the VIX was down -1.43 points or -8.54% at 15.31

 

Q3 – 1 holiday, 9 negative and 10 positive closes

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

 

Friday Closing UP (10 of 29)

  • BioLife Solutions (BLFS +$0.57 after Thursday’s +$0.07 after Wednesday’s -$0.64),
  • Sarepta Therapeutics (SRPT +$0.64),
  • Ionis Pharmaceuticals (IONS +$1.12 after Thursday’s -$0.97 after Wednesday’s +$1.37 and Tuesday’s +$1.21),
  • Arrowhead Pharma (ARWR +$1.14 after Thursday’s -$1.17),
  • Ultragenyx Pharmaceuticals (RARE +$1.26 after Thursday’s -$0.94 after Wednesday’s +$0.36, Tuesday’s -$1.07 and Monday’s +$1.34),
  • CRISPR Therapeutics (CRSP +$1.35 after Thursday’s -$0.73),
  • uniQure NV (QURE +$1.66 after Thursday’s +$5.15 after Wednesday’s +$33.84),
  • Lenz Therapeutics (LENZ closed +$2.00 after Thursday’s -$1.01, Wednesday’s +$0.51, Tuesday’s -$0.73 and Monday’s -$1.01),
  • IQV Holdings (IQV +$2.82 after Thursday’s -$4.61, Wednesday’s -$5.21, Tuesday’s -$1.38 and Monday’s +$0.63),
  • Vertex (VRTX +$3.86 after Thursday’s +$5.25, Wednesday’s -$3.10 after Tuesday’s -$3.41),

Flat (2):

  • BioNTech (BNTX)
  • Harvard Apparatus RT (OTCQB: HRGN)

Thursday’s Closing DOWN (9 of 9):

  • Alnylam Pharmaceuticals (ALNY) closed -$3.18 after Thursday’s -$8.79, Wednesday’s +$3.96, Tuesday’s -$4.61 and Monday’s +$5.36),
  • Mesoblast (MESO -$0.45 after Thursday’s +$0.05 after Wednesday’s -$0.05),
  • Intellia Therapeutics (NTLA -$0.30 after Thursday’s -$1.15 after Wednesday’s +$0.68),
  • Supernus Therapeutics (SUPN -$0.15 after Thursday’s +$0.08),
  • Moderna (MRNA -$0.12 after Thursday’s -$1.27),
  • Beam Therapeutics (BEAM -$0.12),
  • Prime Medicine (PRME -$0.10),
  • MiMedx (MDXG -$0.04),

 

The BOTTOM LINE:  More of the … WHYs …

A sigh of relief after indexes gained on Friday as an inflation release came in line with expectations.

  • However, today’s reading from the Fed's preferred inflation gauge showed prices are still sticky, but the report isn’t likely to take the central bank off its course for more rate cuts in 2025 — especially if the job market continues to remain soft.

The gains marked a shift after three straight days of losses for the major US gauges. Still, all 3 major indexes ended the week lower by less than 1%.

A PLUS for our US pharma industry, “investors are studying Trump's new threat to put a 100% levy on imports of branded drugs.

  • The rate will apply to any pharmaceutical company that isn't already building a manufacturing plant in the US, the president said in a social media post late Thursday, but offered no further details.
  • Shares of drugmakers in Europe and Asia faltered after the move.” <Yahoo Finance>
  • Eli Lilly (LLY) rose 1.4%, Merck & Co. (MRK) and Johnson & Johnson (JNJ) added 1%, and Pfizer (PFE) moved 0.5% higher.

 

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

 

Is a market ripple ahead: Republicans plan to avert a partial government shutdown has upped the political pressure on Democrats to accept the GOP approach to a funding deadline looming 9/30 deadline …

  • Analyst expectations across the board say this latest round of brinkmanship is more likely to end with a shutdown
  • 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” …

  • 9/26 – Friday closed positive with 29 positive, 9 negative and 2 flats
  • 9/25 - 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:   

  • Friday: Vertex (VRTX), IQV Holdings (IQV) and Lenz Therapeutics (LENZ)
  • 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:

  • Friday: Alnylam Pharmaceuticals (ALNY), Mesoblast (MESO) and Intellia therapeutics (NTLA)
  • 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.