November 7, 2025 4:44pm

Late session recovery, so what happened to November’s seasonality boom after yet another missed jobs’ report and so many more layers of uncertainty

I’m still maintaining to BUY the dips as a few Friday ups (16 of 40 covered) emerged

Pre-open Indication Scoring: 7 Hits and 1 Miss

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

38 days and 5 weeks of a shutdown and 14 vote to reject the re-open and counting since 10/1 as Democrats block a vote to re-open government

Friday’s RMi pre-open: Cry or … https://www.regmedinvestors.com/articles/14186

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 +74.80 points or +0.16%, the S&P closed UP +8.48 points or +0.13% while the Nasdaq closed DOWN -49.455 points or -0.22%

  • Theme of the session: struggling indexes and share pricing pains

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

  • A bearish reading on consumer sentiment from the University of Michigan. Overall sentiment dropped to 50.3, a roughly 6% decline from October and the worst reading since 2022. The pullback was driven by respondents' worsening outlook for their own current personal finances and expectations for year-ahead business conditions.

Friday’s (my) 40-company covered sector’s advance/decline line opened negative with 5 incliners, 33 decliners and 2 flats ending with a negative close of 16 incliners, 24 decliners and 0 flat

Metrics:  Friday …

  • The RUT was up +14 points or +0.58%,
  • The IWM was up +1.26 or +0.52%;
  • The IBB was down -0.71 points or -0.45%,
  • The NBI was down -25.18 points or -0.47%;
  • The XLV was up +0.20 points or +0.14%,
  • The XBI was down -0.33 points or -0.30% … while
  • The VIX was down -0.33 points or -1.69% at 19.17

 

Q4 – November - 1 positive and 4 negative closes

  • October -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 16)

  • Alnylam Pharmaceuticals (ALNY +$2.21 after Thursday’s +$5.93, Wednesday’s +$11.09, Tuesday’s -$10.45 and Monday’s -$22.12),
  • uniQure NV (QURE +$0.28 after Thursday’s +$1.45, Wednesday’s -$4.38, Tuesday’s -$3.85 and Monday’s -$33.40),
  • Compass Therapeutics (CMPX +$0.23 and Thursday’s +$0.18),
  • Moderna (MRNA +$0.21 after Thursday’s +$0.77, Wednesday’s -$0.19, Tuesday’s -$1.16 and Monday’s -$2.25),
  • Vericel (VCEL +$0.19 after Thursday’s +$1.55 and Wednesday’s +$0.95),
  • Agenus (AGEN +$0.14),
  • MiMedx (MDXG +$0.11 and Thursday’s -$0.63),
  • Generation BIO (GBIO +$0.12),
  • Harvard Apparatus RT (OTCQB: HRGN +$0.07 <352 shares traded> after Thursday’s $0.00, Wednesday’s $0.00, Tuesday’s +$0.12 <50 shares traded> and Monday’s $0.00),
  • Cellectis SA (CLLS +$0.06),

Flat (0)

Friday’s Closing DOWN (10 of 24):

  • Vertex (VRTX -$6.78 after Thursday’s -$0.75, Wednesday’s -$4.67, Tuesday’s -$4.33 and Monday’s +$0.43),
  • Intellia Therapeutics (NTLA -$2.80 after Thursday’s -$1.25 and Wednesday’s +$1.37),
  • CRISPR Therapeutics (CRSP -$1.49),
  • Supernus Therapeutics (SUPN -$1.24 after Thursday’s -$0.15, Wednesday’s -$9.89, Tuesday’s +$1.30 and Monday’s +$0.57),
  • BioLife Solutions (BLFS -$1.09 after Thursday’s -$0.55 and Wednesday’s +$0.46),
  • Beam Therapeutics (BEAM -$0.94),
  • Ionis Pharmaceuticals (IONS -$0.55 after Thursday’s -$0.58 and Wednesday’s +$1.80),
  • AxoGen (AXGN -$0.42 after Thursday’s +$0.61, Wednesday’s -$0.39, Tuesday’s +$0.52 and Monday’s +$1.03),
  • IQVIA Holdings (IQV -$0.41 after Thursday’s+$0.74, Wednesday’s -$0.86, Tuesday’s -$2.84 and Monday’s -$2.46),
  • Prime Medicine (PRME -$0.37)

 

The Bottom Line: More of the … WHYs

Bearish consumer sentiment data weighted against indexes ended mixed with Dow and S&P up as Nasdaq continued to tumble although coming-off session lows on Friday.

  • As equities tracked closing a bumpy week in the red
  • Facing 'critical tipping point' as key thresholds were tested as traders are turning to technical chart clues in the hope that they will shed light on when the latest market sell-off may end. <Jenny McCall>
  • While investors rarely rely on technical patterns in isolation, charts offer useful insight on potential inflection points in the market. Chart analysis has taken on more prominence now that the government data has gone dark during the shutdown, earnings season is past its peak and questions continue to swirl around the Fed’s policy path.

C&GT sector equities also continued to be leveled as Q3 earnings continued to release

  • As concerns around “Tech's” sky-high valuations dragged the tech sector down after a week of bearish performance.

Reiterating… sector BREATH based on the uncertainty on many fronts, starting with the shutdown questions on legality of tariffs, etc. and etc.

  • The electronic trading algos’ “rules” by taking further profits selling into the sector which has been a usual practice

 

Reiterating, “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!” <me>

It’s not hard to be on the cusp 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 … Agenus (AGEN), Capricor Therapeutics (CAPR) and Wave Life Sciences (WVE) 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

 

Expectation: Fate Therapeutics (FATE) is expected to post a Q3 loss of $0.29 per share in its upcoming report, which represents a year-over-year change of +27.5%. Revenues are expected to be $0.85 million, down 72.3% from the year-ago quarter.

 

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!

 

New week and month, November: understand the “flow” …

  • 11/7 – Friday closed negative with 16 positive, 24 negative and 0 flat
  • 11/6 – Thursday closed negative with 15 positive, 24 negative and 1 flat
  • 11/5 - Wednesday closed positive with 20 positive, 18 negative and 2 flats
  • 11/4 – Tuesday closed negative with 10 positive, 30 negative and 0 flat
  • 11/3 – Monday closed negative with 10 positive, 26 negative and 4 flats

October’s last 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

 

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), uniQure NV (QURE) and Compass Therapeutics (CMPX)
  • Thursday: Alnylam Pharmaceuticals (ALNY), Vericel (VCEL) and Lenz Therapeutics (LENZ)
  • Wednesday: Alnylam Pharmaceuticals (ALNY), Sarepta Therapeutics (SRPT) and Ionis Pharmaceuticals (IONS)
  • Tuesday: Supernus Therapeutics (SUPN), BioNTech (BNTX) and AxoGen (AXGN)
  • Monday: Vericel (VCEL), AxoGen (AXGN) and Supernus Therapeutics (SUPN)  

The worst three (3) in the session:

  • Friday: Vertex (VRTX), Intellia Therapeutics (NTLA) and CRISPR Therapeutics (CRSP)
  • Thursday: Intellia Therapeutics (NTLA), Sarepta Therapeutics (SRPT) and Ultragenyx Pharmaceuticals (RARE)
  • Wednesday: Supernus Therapeutics (SUPN), Lenz Therapeutics (LENZ) and Vertex (VRTX)
  • Tuesday: Alnylam Pharmaceuticals (ALNY), Vertex (VRTX) and CRISPR Therapeutics (CRSP)
  • Monday: uniQure NV (QURE), Alnylam Pharmaceuticals (ALNY) and Arrowhead Pharma (ARWR)

 

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.