October 14, 2025 4:40pm

From a Monday neutral, a morning low, the C&GT (cell and gene therapy) sector popped

What drove this high, sentiment hyped by optimism

The VIX is still on a move, hitting a high of 20.36, after Monday’s 19.05

We are getting closer to Q3 LPS (loss-per-share) earnings releases waiting for coming share pricing debacles as the risk curve uplifts

Never leave an investor uninformed! 

 

Sector Q3 earnings begin with IQV Holdings (IQV) on 10/28 – key: catalysts needed!

RMi pre-open: A bull trap? … https://www.regmedinvestors.com/articles/14149

I believe earnings per share (EPS) estimates need to be revised along with the response to their share pricing declines upon their release to shake-off pipeline uncertainties

 

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

 

Tuesday: The Dow closed UP +202.88 points or +0.44%, the S&P closed DOWN -10.41 points or -0.16% while the Nasdaq closed DOWN -172.907 points or -0.76%

  • Theme of the session: a comeback from lows 

Henry’omics: We need to consider the macro-economic environment to aggregate the micros re “our” universe of cell and gene therapy

  • Fed Chair Powell speaking to the National Association for Business Economics conference in Philadelphia, suggested the Fed is nearing a point where it will stop reducing the size of its bond holdings, but gave no long-run indication of where interest rates are heading. Powell, then provided a dissertation on where the Fed stands with “quantitative tightening,” or the effort to reduce the more than $6 trillion of securities it holds on its balance sheet.
  • Also, Powell said the downside risks to the labor market seemed to call for a more neutral monetary policy. But he said that if the Fed moves too quickly, inflation may remain unaddressed in the near term. Powell does not see "a risk-free path" for policy.

Tuesday’s (my) 40-company covered sector’s advance/decline line opened negative with 12 incliners, 27 decliners and 1 flat ending with a positive close of 28 incliners, 12 decliners and 0 flat

Metrics:  Tuesday, the RUT was up +34.08 points or +1.38%, the IBB was up +0.38 points or +0.25%, the XLV was up +0.39 points or +0.27%, the XBI was down -0.16 points or -0.15% while the VIX was up +1.33 points or +6.98% at 20.36

 

Q4 –1 neutral, 6 positive and 3 negative closes

Q3 – September - 1 holiday, 9 negative and 12 positive closes; August - 12 negative and 9 positive closes; July - 1 market holiday, 13 positive and 9 negative closes

 

Tuesday Closing UP (10 of 28) 

  • Vertex (VRTX +$4.85 after Monday +$0.42),
  • Alnylam Pharmaceuticals (ALNY +$4.41 after Monday +$4.80),
  • Vericel (VCEL +$1.15 after Monday +$1.64),
  • CRISPR Therapeutics (CRSP +$1.09 after Monday -$4.81),
  • IQV Holdings (IQV +$0.87 after Monday +$5.60),
  • Supernus Therapeutics (SUPN +$0.84 after Monday -$0.62),
  • Rocket Therapeutics (RCKT +$0.80),
  • Ionis Pharmaceuticals (IONS +$0.78),
  • Adverum Biotechnologies (ADVM +$0.43 after Monday -$0.65),
  • Prime Medicine (PRME +$0.34),

Flat (0)

Tuesday’s Closing DOWN (12 of 12): 

  • uniQure NV (QURE -$3.06 after Monday’s +$0.57),
  • Sarepta Therapeutics (SRPT -$0.53),
  • Moderna (MRNA -$0.49),
  • Mesoblast (MESO -$0.35),
  • Ultragenyx Pharma (RARE -$0.33 after Monday’s +$0.62),
  • Arrowhead Pharma (ARWR -$0.29 after Monday’s +$0.84),
  • Cellectis SA (CLLS -$0.25 after Monday’s +$0.42),
  • Regenxbio (RGNX -$0.09 after Monday’s +$0.47),
  • Agenus (AGEN -$0.08),
  • Harvard Apparatus RT (OTCQB: HRGN -$0.07 after Monday’s $0.00),
  • Capricor Therapeutics (CAPR -$0.02 after Monday’s -$0.37),
  • Precigen (PGEN -$0.01),

 

The Bottom Line: More of the … WHYs …

Fed Chair Powell in remarks … suggested the bank is on track for a rate cut at the month-end, helping the market overcome worries about a flare-up in U.S.-China tensions.

The Nasdaq was adjacent a positive close yet stayed in the black, paring losses to -0.2%. The small-cap Russell 2000 jived to a +1.9% hike.

The C&GT sector is still a "test” of how much risk investors were willing to take?

 

Anticipation pre-sector calls:

  • Johnson & Johnson (JNJ) fell more than 1% in early trade despite topping earnings views. The bellwether pharmaceutical and medical products company reported third-quarter sales of $24 billion, beating the estimate of $23.8 billion. JNJ also announced it will spin off its orthopedics business. Earnings per share of $2.80 per share also topped estimates of $2.76 per share. The stock remains extended from a cup base buy point of $169.99.

 

October: understand the “flow” …

  • 10/14 - Tuesday closed positive with 28 positive, 12 negative and 0 flat
  • 10/13 - Monday closed neutral with 20 positive, 20 negative and 0 flat

Last week:

  • 10/10 – Friday closed negative with 3 positive, 37 negative and 0 flat
  • 10/9 - Thursday closed positive with 21 positive, 19 negative and 0 flat
  • 10/8 – Wednesday closed positive with 29 positive, 10 negative and 1 flat
  • 10/7 – Tuesday closed negative with 15 positive, 25 negative and 0 flat
  • 10/6 – Monday closed negative with 17 positive, 22 negative and 1 flat

The previous week:

  • 10/3 – Friday closed positive with 27 positive, 10 negative and 3 flats
  • 10/2 - Thursday closed positive with 26 positive, 13 negative and 1 flat
  • 10/1 – Wednesday closed positive with 26 positive, 14 negative and 0 flat
  • 9/30 -- Tuesday closed positive with 24 positive, 15 negative and 1 flat
  • 9/29 – Monday closed positive with 33 positive, 5 negative and 2 flats

 

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.
  • “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!”

 

Why do I keep repeating, framed in a different para, so investors can make the connection

The top three (3) performing in the session:   

  • Tuesday: Vertex (VRTX), Alnylam Pharmaceuticals (ALNY) and Vericel (VCEL)
  • Monday: Alnylam Pharmaceuticals (ALNY), IQV Holdings (IQV) and Vericel (VCEL)
  • Friday: Alnylam Pharmaceuticals (ALNY), Compass Therapeutics (CMPX) and Fate Therapeutics (FATE)

The worst three (3) in the session:

  • Tuesday: uniQure NV (QURE), Sarepta Therapeutics (SRPT) and Moderna (MRNA)
  • Monday: CRISPR Therapeutics (CRSP), Beam Therapeutics (BEAM) and Adverum Biotechnologies (ADVM)
  • Friday: Lenz Therapeutics (LENZ), Vertex (VRTX) and IQV Holdings (IQV)

 

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.