October 23, 2025 4:36pm

C&GT sector was confronted by lack-luster sentiment brought-on by algos, lack of catalysts and upcoming earnings season

Democrats blocked a Republican-led attempt to provide essential government workers with paychecks amid an ongoing, 23-day shutdown, calling the bill overly selective and incomplete

RMi collects, interprets and disseminates cell and gene therapy sector (C&GT) news, intel and share pricing data to bridge the gap to an investment decision

Never leave an investor uninformed!  

The Cboe Volatility Index fell to 17.27 from Wednesday’s 18.69, Tuesday’s 18.03, Monday’s 18.48 as compared to Friday’s 20.83 (having seen 28 at one point on Friday)

Thursday’s RMi pre-open: Waiting … https://www.regmedinvestors.com/articles/14162

Inflation data due Friday is expected to give further clues about the health of the economy, particularly ahead of the Fed’s late October meeting. Markets widely expect central bankers to cut rates by another ¼% point.

 

Thursday: The Dow closed UP +144.20 points or +0.31%, the S&P closed UP +39.04 points or +0.58% while the Nasdaq closed UP +201.402 points or +0.89%

  • Theme of the session: regain their footing following Wednesday’s slide

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

  • Home sales hit a seven-month high in September as mortgage rates edged lower, the National Association of Realtors reported: Existing units sold at a 4.06 M annualized pace, according to seasonally adjusted numbers. That was 1.5% better than August and a 4.1% gain from the same period a year ago. Inventory held steady at 4.6 month’s supply, though that was 9.5% higher than a year ago. Sale prices dropped on a monthly basis, with the average price at $415,200. However, that still marked a 2.1% increase from the same point in 2024.

Thursday’s (my) 40-company covered sector’s advance/decline line opened negative with 14 incliners, 25 decliners and 1 flat ending with a negative close of 15 incliners, 22 decliners and 3 flats

Metrics:  Thursday …

  • The RUT was up +31.01 points or +1.27%,
  • The IBB was up +0.66 points or +0.43%,
  • The XLV was up +0.07 points or +0.05%,
  • The XBI was up +0.23 points or +0.21% … while
  • The VIX was down -1.33 points or -7.14% at 17.27

 

Q4 – 1 neutral, 8 positive and 8 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

 

Thursday Closing UP (10 of 15) 

  • IQV Holdings (IQV +$1.99),
  • Supernus Therapeutics (SUPN +$1.35),
  • Intellia Therapeutics (NTLA +$1.311 after Wednesday’s -$2.39, Tuesday’s -$1.01 and Monday’s +$3.23),
  • BioLife Solutions (BLFS +$1.12),
  • Ultragenyx Pharmaceuticals (RARE +$0.69 after Wednesday’s -$1.05),
  • Beam Therapeutics (BEAM +$0.52 after Wednesday’s -$2.21, Tuesday’s -$0.73 and Monday’s +$4.64),
  • CRISPR Therapeutics (CRSP +$0.49 after Wednesday’s -$5.80, Tuesday’s -$1.65 and Monday’s +$4.82),
  • Regenxbio (RGNX +$0.39 after Wednesday’s -$0.90 and Tuesday’s +$0.45),
  • Precigen (PGEN +$0.34),
  • Prime Medicine (PRME +$0.27)

Flat (3)

  • AxoGen (AXGN)
  • Harvard Apparatus RT (OTCQB: HRGN)
  • Ionis Pharmaceuticals (IONS)

Thursday’s Closing DOWN (10 of 22): 

  • Vertex (VRTX -$3.81 after Wednesday’s -$0.17 after Tuesday’s +$7.17 and Monday’s +$2.29),
  • BioNTech (BNTX -$1.48),
  • Lenz Therapeutics (LENZ -$1.32 after Wednesday’s -$0.86 after Tuesday’s -$2.75 after Monday’s -$1.95),
  • Alnylam Pharmaceuticals (ALNY -$0.90 after Wednesday’s -$9.10, Tuesday’s -$7.22 and Monday’s +$9.55),
  • Moderna (MRNA -$0.60),
  • Sarepta Therapeutics (SRPT -$0.58 after Wednesday’s -$0.88 and Tuesday’s +$0.30),
  • uniQure NV (QURE -$0.58 after Wednesday’s -$3.16, Tuesday’s -$0.85 and Monday’s +$5.92),
  • Vericel (VCEL -$0.44),
  • Arrowhead Pharma (ARWR -$0.28),
  • Compass Therapeutics (CMPX -$0.27 and Wednesday’s +$0.06)

 

The Bottom Line: More of the … WHYs

US stocks climbed on Thursday as the US confirmed a highly anticipated meeting with China next week …

As I wrote yesterday in the a.m. post, “Retail investors may want to be cautious about directional/trending equities, keeping 1 finger ready for a BUY ticket and another on a SELL button if the market moves decisively higher or lower.”

  • The US placed sanctions on Russia's giant producers, piling pressure on President Putin to end the war in Ukraine.
  • The delayed release of the September Consumer Price Index report will provide investors with a rare look at the inflation picture. Government data has come to a virtual standstill amid the ongoing government shutdown.

“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!”

Sector Q3 earnings begin with IQV Holdings (IQV) on 10/28, MiMedx (MDXG), AxoGen AXGN) MiMedx (MDXG) Ionis Pharmaceuticals IONS), AxoGen AXGN) on 10/29 with Supernus Therapeutics (SUPN) on 11/4 followed by Moderna (MRNA) and Vericel (VCEL) on 11/6

  • 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
  • Meeting earnings expectation and/or missing consensus will deem share pricing outcomes
  • Post earnings, I think it's important to focus on fundamentals, advancing clinical catalysts, “runways” and sector company’s capacity/ability to finance

 

As the leading voice of cell and gene therapy investors; I am NOT always a doom and gloom analyst/journalist but a man who has been “there” (BUY, SELL, VC and multiple operating roles) with the gray hair and a readership following with real numbers to prove it!

 

October: understand the “flow” …

This week:

  • 10/23 – Thursday closed negative with 15 negative, 22 negative and 3 flats
  • 10/22 – Wednesday closed negative with 4 positive, 34 negative and 2 flat
  • 10/21 - Tuesday closed negative with 17 positive, 23 negative and 0 flat
  • 10/20 - Monday closed positive with 34 positive, 4 negative and 2 flats

Last week:

  • 10/17 – Friday closed negative with 11 positive, 28 negative and 1 flat
  • 10/16 - Thursday closed negative with 17 positive, 22 negative and 1 flat
  • 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

 

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:   

  • Thursday: IQV Holdings (IQV), Supernus Therapeutics (SUPN) and Intellia Therapeutics (NTLA)
  • Wednesday: AxoGen (AXGN), Compass Therapeutics (CMPX) and Sangamo Therapeutics (SGMO)
  • Tuesday: Vertex (VRTX), IQV Holdings (IQV) and Mesoblast (MESO)
  • Monday: Alnylam Pharmaceuticals (ALNY), IQV Holdings (IQV) and uniQure NV (QURE)

The worst three (3) in the session:

  • Thursday: Vertex (VRTX), BioNTech (BNTX) and Lenz Therapeutics (LENZ)
  • Wednesday: Alnylam Pharmaceuticals (ALNY), CRISPR Therapeutics (CRSP) and uniQure NV (QURE)
  • Tuesday: Alnylam Pharmaceuticals (ALNY), Lenz Therapeutics (LENZ) and Ionis Pharmaceuticals (IONS)
  • Monday: Lenz Therapeutics (LENZ), Compass Therapeutics (CMPX) and Cellectis SA (CLLS)

 

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.