November 13, 2025 4:40pm

Resumed as investors continued to rotate portfolio positions; afraid of further uncertainties as the VIX (fear index) jumped-up to 20.14 from Wednesday’s 17.50

Pre-open Indication Scoring: 4 Hits and 2 Miss

Investors are also flying blind without key economic reports, such as the October jobs report and inflation data which many believe contributed to the market’s recent choppiness

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!  

There’s nothing wrong in trimming any upside, taking some gains as or before algos and electronic trading “rip” and funds end-of-year rotate and tax selling drawing more blood from sector share pricing

RMi pre-open: Chutes and Ladders … https://www.regmedinvestors.com/articles/14194

RMi Research Note: Harvard Apparatus GT (OTCQB): Broke … https://www.regmedinvestors.com/articles/13812

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

 

Thursday: The Dow closed DOWN -797.60 points or -1.65%, the S&P closed DOWN -113.43 points or -1.66% while the Nasdaq closed DOWN -536.102 points or -2.29%

  • Theme of the session: sell-off worsened Thursday continuing a market rotation

Thursday’s (my) 40-company covered sector’s advance/decline line opened negative with 12 incliners, 28 decliners and 0 flat ending with a negative close of 8 incliners, 32 decliners and 0 flat

  • The Nasdaq dipped below the 50-day moving average level of 22,810.13 during Thursday’s session. If the index closes below that level, it will be the first time it has finished below its 50-day MA since April 30. Thursday’s declines put the Nasdaq on track for its worst day since Oct. 10, when it fell 3.56%. <CNBC>

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 sudden change in rate cut expectations weighed on equities as well. Markets were last pricing in a roughly 52% chance that the data-dependent Fed will indeed slash its benchmark overnight borrowing rate by a quarter percentage point at its last meeting of the year in December. That marks a sharp drop from the 62.9% likelihood that markets priced in a day ago, according to the CME FedWatch Tool. <CNBC>

Metrics:  Thursday …

  • The RUT was down -67.81 points or -2.77%,
  • The IWM was down -0.57 or -0.23%;
  • The IBB was down -1.64 points or -%,
  • The NBI was down - points or -0.99%;
  • The XLV was down -0.08 points or -0.05%,
  • The XBI was down -2.19 points or -1.92% … while
  • The VIX was up +2.63 points or +15.01% at 20.14

 

Q4 – November - 3 positive and 7 negative closes

  • October -1 neutral, 11 positive and 12 negative closes

 

Thursday Closing UP (8 of 8)

  • IQVIA Holdings (IQV +$2.67 after Wednesday’s +$2.34, Tuesday’s +$5.47 and Monday’s +$2.59),
  • Alnylam Pharmaceuticals (ALNY +$1.23 after Wednesday’s +$0.79, Tuesday’s +$10.25 and Monday’s -$1.00),
  • Lenz Therapeutics (LENZ +$0.99 after Wednesday’s -$0.95 and Tuesday’s +$3.26),
  • Entrada Therapeutics (TRDA +$0.77 after Wednesday’s +$0.31),
  • Vertex (VRTX +$0.33 after Wednesday’s +$4.97, Tuesday’s +$4.86 and Monday’s +$11.73),
  • uniQure NV (QURE +$0.22 after Wednesday’s -$0.72 and Tuesday’s +$4.57),
  • Generation Bio (GBIO +$0.13),
  • Regenxbio (RGNX +$0.04),

Flat (0)

Thursday’s Closing DOWN (10 of 32):

  • BioNTech (BNTX -$7.82 after Wednesday’s +$3.05, Tuesday’s +$3.58 and Monday’s +$1.93),
  • Ionis Pharmaceuticals (IONS -$2.83 after Wednesday’s +$0.22, Tuesday’s +$2.91 and Monday’s -$4.01),
  • Moderna (MRNA -$1.75 after Wednesday’s +$0.30 and Tuesday’s +$1.17),
  • CRISPR Therapeutics (CRSP -$1.08 after Wednesday’s -$3.02),
  • Intellia Therapeutics (NTLA -$0.82 after Wednesday’s -$0.69),
  • BioLife Solutions (BLFS -$0.78),
  • Mesoblast (MESO -$0.78),
  • Ultragenyx Pharmaceuticals (RARE -$0.63 after Wednesday’s +$0.28, Tuesday’s +$1.31, and Monday’s +$1.31),
  • Vericel (VCEL -$0.60 after Wednesday’s -$0.61),
  • Solid Biosciences (SLDB -$0.44 after Wednesday’s +$0.21),

 

The Bottom Line: More of the … WHYs

Investors continued to sell shares of the C&GT sector and technology companies, especially those in the artificial intelligence, amid worries about their valuations.

  • Also, a sudden change in “potential” rate cut expectations weighed on equities
  • Markets were last pricing in a more than 49% chance that the data-dependent Fed will indeed slash its benchmark overnight borrowing rate by a ¼% point at its last meeting of the year in December
  • That marks a sharp drop from the 62.9% likelihood that markets priced in a day ago, according to the CME FedWatch Tool. 

 

Interesting:

Pfizer (PFE) just fired the opening shot in a new post-Covid reset, moving to unload its remaining stake in BioNTech (BNTX) through an overnight block trade that could be worth about $508 M at the top of the $108 to $111.70 marketing range.

  • It's a sharp turn for a partnership that once defined the pandemic era, and the market reacted fast: BNTX's US-listed shares slipped -7.82%, while PFE edged down -0.31% as investors weighed what this exit could mean <Gurufocus>
  • While, Pfizer (PFE) CEO and chairman Bourla $10 B acquisition of GLP-1 maker Metsera (MTSR) is part of the Big Pharma company's "right to win" in the obesity drug game.
  • Pfizer competitor Novo Nordisk (NVO), the maker of the GLP-1 drugs Ozempic and Wegovy, had put in multiple escalating bids for MTSR, which makes a monthly GLP-1 injection.
  • PFE was forced to double its offer from an original bid of $4.9 B.
  • Part of MTSR's portfolio is, like others, a weekly GLP-1. But key to the MTSR’s portfolio, Bourla said, is its monthly GLP-1, which will be market-leading. He said Pfizer is the right company to bring the product to market. "We are a company that knows how to run massive vaccine trials ... we are a company that knows how to manufacture at scale," Bourla said. <Yahoo Finance>

 

C&GT sector equities continue to be level share pricing as Q3 earnings release

I have seen share pricing interruption … from earnings expectation and consensus always considering earnings season LPS (loss-per-share).

  • 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!

 

A real question, are cell and gene therapy (C&GT) sector companies with high insider ownership present … opportunity?

  • Do they often demonstrate alignment between management and shareholder interests … a critical factor in navigating volatile market conditions?
  • I will be looking into this …! Stay tuned.

 

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

New week:

  • 11/13 – Thursday closed negative with 8 positive, 32 negative and 0 flat
  • 11/12 – Wednesday closed negative with 18 positive, 22 negative and 0 flat
  • 11/11 – Tuesday closed positive with 34 positive, 4 negative and 2 flats
  • 11/10 - Monday closed positive with 26 positive, 14 negative and 0 flats

Last week:

  • 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

 

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: IQVIA Holdings (IQV), Alnylam Pharmaceuticals (ALNY) and Lenz Therapeutics (LENZ)
  • Wednesday: Vertex (VRTX), BioNTech (BNTX) and IQVIA Holdings (IQV)
  • Tuesday: Alnylam Pharmaceuticals (ALNY), Vertex (VRTX) and IQVIA Holdings (IQV)
  • Monday: Vertex (VRTX), IQVIA Holdings (IQV) and BioNTech (BNTX)

The worst three (3) in the session:

  • Thursday: BioNTech (BNTX), Ionis Pharmaceuticals (IONS) and Moderna (MRNA)
  • Wednesday: CRISPR Therapeutics (CRSP), Supernus Therapeutics (SUPN) and Lenz therapeutics (LENZ)
  • Tuesday: BioLife Solutions (BLFS), MiMedx (MDXG) and CRISPR Therapeutics (CRSP)
  • Monday: Ionis Pharmaceuticals (IONS), uniQure NV (QURE) and Alnylam Pharmaceuticals (ALNY),

 

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.