October 31, 2025 4:42pm

A rising index tide lifted many sectors’ equities

Going into Q3/25 earnings season, still with concerns about what releases will look like?

31st day’s shutdown, 1 month with 13th Democratic negative votes and counting

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

Never leave an investor uninformed! 

TGIF

Despite upbeat signals from tariff talks and earnings so far; investors still face a murky economic outlook after the Fed pushed back on the prospect of further interest-rate reductions, with the US in a data blackout based on the government shutdown

RMi pre-open: Finished … https://www.regmedinvestors.com/articles/14176

The past, present and future values of RMi’s analysis sheds light on the cell and gene therapy’s (C&GT) sector’s “current” acrobatics

 

Friday: The Dow closed UP +40.75 points or +0.09%, the S&P closed UP +17.86 points or +0.26% while the Nasdaq closed UP +143.813 points or +0.61%

  • Theme of the session: multiple positivity factors drive upside

Friday’s (my) 40-company covered sector’s advance/decline line opened positive with 27 incliners, 11 decliners and 2 flats ending with a positive close of 28 incliners, 11 decliners and 1 flat

Metrics:  Friday …

  • The RUT was up +13.43 points or +0.54%,
  • The IWM was up +2.35 or +0.55%;
  • The IBB was up +2.07 points or +1.32%,
  • The NBI was up +63.58 points or +1.20%;
  • The XLV was down -0.05 points or -0.03%,
  • The XBI was up +0.69 points or +0.62% … while
  • The VIX was up +0.50 points or +2.96% at 17.40

 

Q4 – 1 neutral, 11 positive and 12 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

 

Friday Closing UP (10 of 28)

  • Alnylam Pharmaceuticals (ALNY +$6.98 after Thursday’s -$32.03,  Wednesday’s +$5.68, Tuesday’s -$2.67 and Monday’s +$15.15),
  • Vertex (VRTX +$5.91 after Thursday’s +$2.68, Wednesday’s -$5.18 after Tuesday’s +$2.22 and Monday’s -$1.22)
  • CRISPR Therapeutics (CRSP +$2.88 after Thursday’s -$1.46, Wednesday’s -$1.61, Tuesday’s -$1.55 and Monday’s -$1.89),
  • BioLife Solutions (BLFS +$1.17 after Thursday’s -$0.64),
  • Sarepta Therapeutics (SRPT +$1.11 after Thursday’s -$0.20, Wednesday’s -$0.77, Tuesday’s +$0.72 after Monday’s +$0.69),
  • Beam Therapeutics (BEAM +$0.76 after Thursday’s -$0.97, Wednesday’s -$1.66, Tuesday’s -$0.30 and Monday’s -$1.23),
  • Ionis Pharmaceuticals (IONS +$0.73 after Thursday’s +$2.29, Wednesday’s -$1.69, Tuesday’s +$0.58 after Monday’s +$2.13),
  • Vericel (VCEL+$0.65 after Thursday’s -$0.35, Wednesday’s -$1.95 and Tuesday’s +$0.36),
  • Wave Life Sciences (WVE +$0.62 after Thursday’s +$0.04 after Wednesday’s +$0.67),
  • Prime Medicine (PRME +$0.595),

Flat (1)

  • Harvard Apparatus RT (OTCQB: HRGN)

Friday’s Closing DOWN (11 of 11):

  • Supernus Therapeutics (SUPN -$2.01 after Thursday’s +$0.82, Wednesday’s +$2.51 and Tuesday’s +$0.45),
  • Moderna (MRNA -$1.06 after Thursday’s +$3.44, Wednesday’s -$0.65 after Tuesday’s -$1.31),
  • AxoGen (AXGN -$0.97 after Thursday’s +$0.43, Wednesday’s +$4.17 after Tuesday’s +$0.31 and Monday’s -$0.40),
  • BioNTech (BNTX -$0.95 after Thursday’s +$1.32, Wednesday’s -$1.68, Tuesday’s -$1.02 and Monday’s +$0.39),
  • uniQure NV (QURE -$0.62 after Thursday’s -$2.73, Wednesday’s +$0.59, Tuesday’s +$2.08 and Monday’s +$6.91),
  • IQVIA Holdings (IQV -$0.46 after Thursday’s +$1.41),
  • Lenz Therapeutics (LENZ -$0.30)
  • Ultragenyx Pharmaceuticals (RARE -$0.15 after Thursday’s +$0.58),
  • Generation Bio (GBIO -$0.13),
  • Cellectis SA (CLLS -$0.05)
  • Entrada Therapeutics (TRDA -$0.03 after Thursday’s +$0.01 and Wednesday’s +$0.46),

 

The Bottom Line: More of the … WHYs

US stocks bounced back Friday, with Wall Street notching weekly and monthly wins …

October has seen the S&P 500 climb more than 2%, the Nasdaq about +4%, and the Dow is +2% … as October ends with the indexes mixed - Nasdaq rising, the S&P slipping and the Dow falling.

Still, October’s C&GT sector has experienced many a largest one-day losses and rebounds!

 Federal Reserve officials stepped up to speak for the first time since this week's meeting, which brought an interest rate cut and revealed deepening divisions among policymakers.

  • Kansas City Fed president Jeff Schmid said he would have preferred to hold rates steady, as inflation is "too high."
  • Dallas Fed president Lorie Logan, who is not a voting member this year, said Friday that she would have preferred to hold steady. <Yahoo Finance>

 

The Ai blame claims on falling employment and more falls on deaf ears to me casting a blind eye on sentiment; productivity does NOT happen overnight! Companies re past employment hires have suffered bigger eyes than size of their stomachs; now they hope to attribute to Ai!

 

It’s not hard to be right so often, it’s about refining expectation, defining insight and NOT being indentured to ANY financial institution!

 

I see mid-week an interruption coming … from earnings expectation and consensus always considering earnings season LPS (loss-per-share).

  • Sector Q3 earnings begin … with Sarepta Therapeutics (SRPT) and BioNTech (BNTK) on 11/3, Supernus Therapeutics (SUPN) on 11/4, Moderna (MRNA) and Vericel (VCEL) on 11/6 followed by Capricor Therapeutics (CAPR) on 11/10
  • Think about it; one of the biggest problems with the cell and gene therapy sector’s share pricing is …  99% of them have no earnings! Revenue from collaborations and runways have become indications of sustainability.
  • 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
  • As earnings evolve, 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” …

New week

  • 10/31 – Friday closed positive with 28 positive, 11 negative and 1 flat
  • 10/30 – Thursday closed negative with 13 positive, 25 negative and 2 flats
  • 10/29 - Wednesday closed negative with 9 positive, 30 negative and 1 flat
  • 10/28 -Tuesday closed negative with 16 positive, 21 negative and 3 flats
  • 10/27 - Monday closed negative with 18 positive, 22 negative and 0 flats

Last week:

  • 10/24 - Friday closed positive with 25 positive, 13 negative and 2 flats
  • 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

The previous 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

October’s 2nd 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

Starting October:

  • 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:   

  • Friday: Alnylam Pharmaceuticals (ALNY), Vertex (VRTX) and CRISPR Therapeutics (CRSP)
  • Thursday: Moderna (MRNA), Vertex (VRTX) and Ionis Pharmaceuticals (IONS)
  • Wednesday: Alnylam Pharmaceuticals (ALNY), AxoGen (AXGN) and Supernus Therapeutics (SUPN)
  • Tuesday: Vertex (VRTX), uniQure NV (QURE) and Sarepta Therapeutics (SRPT)
  • Monday: Alnylam Pharmaceuticals (ALNY), uniQure NV (QURE) and Ionis Pharmaceuticals (IONS)

The worst three (3) in the session:

  • Friday: Supernus Therapeutics (SUPN), Moderna (MRNA) and BioNTech (BNTX
  • Thursday: Alnylam Pharmaceuticals (ALNY), uniQure NV (QURE) and CRISPR Therapeutics (CRSP)
  • Wednesday: Vertex (VRTX), Vericel (VCERL) and Ionis Pharmaceuticals (IONS)
  • Tuesday: Alnylam Pharmaceuticals (ALNY), CRISPR Therapeutics (CRSP) and Moderna (MRNA
  • Monday: Intellia Therapeutics (NTLA), IQVIA Holdings (IQV) and CRISPR Therapeutics (CRSP)

 

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.