October 15, 2025 4:53pm

Investors enjoy volatility sparking gains and fewer lows as we get closer to Q3 LPS (loss-per-share) earnings releases with the usual share pricing debacles as the risk curve uplifts

The VIX is again on the move, closing Wednesday at 20.41 after Tuesday’s 20.36 following Monday’s 19.05

Only clinical data and catalysts will move the pricing needle, algos and electronic trading are just artificial influences

Never leave an investor uninformed!  

Sector Q3 earnings begin with IQV Holdings (IQV) on 10/28, MiMedx (MDXG) and AxoGen AXGN) on 10/29 – key: catalysts needed!

I was facilitating an early major hospital visit/procedure by/for the “better half’ in her cancer fight this a.m. thus no pre-open post … we’re winning!

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

 

Wednesday: The Dow closed DOWN -17.15 points or -0.04%, the S&P closed UP +26.75 points or +0.40% while the Nasdaq closed UP +148.379 points or +0.66%

  • Theme of the session: volatility

Henry’omics: We need to understand the macro-economic environment to comprehend the micro re “our” universe of cell and gene therapy

  • The U.S. government shutdown, which is in its 15th day and 3rd week, has added to the uncertainty of the moment. Under the closure, the release of critical economic data from federal agencies has come to a halt indefinitely, creating blind spots for traders.

Wednesday’s (my) 40-company covered sector’s advance/decline line ended with a positive close of 31 incliners, 8 decliners and 1 flat

  • The Russell 2000 has jumped more than 5.5% week to date. The index is poised for its biggest weekly gain since early November, when small cap stocks rallied following President Trump’s victory in anticipation of deregulation. <CNBC>

Metrics:  Wednesday, the RUT was up +24.26 points or +0.97%, the IBB was up +2.07 points or +1.37%, the XLV was up +0.23 points or +0.16%, the XBI was up +3.25 points or +3.09% while the VIX was down -0.40 points or -1.92% at 20.41

 

Q4 –1 neutral, 7 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

 

Wednesday Closing UP (10 of 31) 

  • uniQure NV (QURE +$3.87 after Tuesday -$3.06 after Monday’s +$0.57),
  • Lenz Therapeutics (LENZ +$3.05),
  • CRISPR Therapeutics (CRSP +$2.44 after Tuesday +$1.09 after Monday -$4.81),
  • Arrowhead Pharma (ARWR +$2.23 after Tuesday -$0.29 after Monday’s +$0.84),
  • Intellia Therapeutics NTLA +$2.03),
  • Beam Therapeutics (BEAM +$1.77),
  • Ultragenyx Pharma (RARE +$1.74 after Tuesday -$0.33 after Monday’s +$0.62),
  • BioNTech (BNTX +$1.73),
  • Moderna (MRNA +$1.47 after Tuesday -$0.49),
  • BioLife Solutions (BLFS +$1.09),

Flat (1)

  • Brainstorm Cell Therapeutics (BCLI)

Wednesday’s Closing DOWN (9 of 9): 

  • Vertex (VRTX -$4.32 after Tuesday’s +$4.85 after Monday +$0.42),
  • IQV Holdings (IQV -$1.64 after Tuesday’s +$0.87 after Monday +$5.60),
  • Vericel (VCEL -$1.05 after Tuesday’s +$1.15 after Monday +$1.64),
  • Adverum Biotechnologies (ADVM -$0.11 after Tuesday’s +$0.43 after Monday -$0.65),
  • Harvard Apparatus RT (OTCQB: HRGN -$0.10 after Tuesday’s -$0.07 after Monday’s $0.00),
  • Cellectis SA (CLLS -$0.06 after Tuesday’s -$0.25 after Monday’s +$0.42),
  • Rocket Therapeutics (RCKT -$0.03 after Tuesday’s +$0.80),
  • Capricor Therapeutics (CAPR -$0.01 after Tuesday’s -$0.02 after Monday’s -$0.37),

 

The Bottom Line: More of the … WHYs …

  • Dow ends flat, S&P 500 and Nasdaq close in the green after choppy trading

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

  • What more can one day, versus watching what happens?

 

October: understand the “flow” …

  • 10/15 - Wednesday closed positive with 31 positive, 9 negative and 1 flat
  • 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

 

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:   

  • Wednesday: uniQure NV (QURE), Lenz Therapeutics (LENZ) and CRISPR Therapeutics (CRSP)
  • Tuesday: Vertex (VRTX), Alnylam Pharmaceuticals (ALNY) and Vericel (VCEL)
  • Monday: Alnylam Pharmaceuticals (ALNY), IQV Holdings (IQV) and Vericel (VCEL)

The worst three (3) in the session:

  • Wednesday: Vertex (VRTX), IQV Holdings (IQV) and Vericel (VCEL)
  • Tuesday: uniQure NV (QURE), Sarepta Therapeutics (SRPT) and Moderna (MRNA)
  • Monday: CRISPR Therapeutics (CRSP), Beam Therapeutics (BEAM) 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.