November 20, 2025 5:22pm

Another C&GT sector cavernous smackdown

AS the VIX closed up at 26.42 after Wednesday’s 23.81, Tuesday’s 24.67, Monday’s 22.73 and last Friday’s 19.83

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!  

My interpretation of the evenings’ numbers is written to be informative; it’s built on what happened ...

Thursday’s RMi Pre-opening Bell: None, Dr. appt

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

The peril facing the cell and gene therapy (C&GT) sector’s share pricing isn’t just applications of macro or even micro econs, sentiment or algorithms within electronic trading; it’s losing highly reliable, accurate and transparent data.

 

Thursday: The Dow closed DOWN -386.51 points or -0.84%, the S&P closed DOWN -103.40 points or -1.56% while the Nasdaq closed DOWN -486.181 points or -2.16%

  • Theme of the session: the broader market was dragged down as investors are losing hope that the Fed would cut rates again in December

Thursday’s (my) 40-company covered sector’s advance/decline line opened positive with 23 incliners, 15 decliners and 2 flats ending with a negative close of 8 incliners, 31 decliners and 1 flat

  • Digesting the downside, tied to an ongoing rotation out of higher-valued tech

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

  • The delayed U.S. jobs report for September showed employment for the month grew by 119,000, beating a consensus estimate of 50,000.
  • Existing home sales for October rose 1.2% from September to 4.1 million units on a seasonally adjusted, annualized basis and 1.7% year over year. The median price of a home sold last month gained 2.1% from October 2024 to $415,200. That marks the 28th consecutive month of annual price increases.

Metrics:  Thursday …

  • The RUT was down -42.78 points or -1.82%,
  • The IWM was down -4.32 or -1.85%;
  • The IBB was down -0.98 points or -0.59%,
  • The NBI was down -50.35 points or -0.91%;
  • The XLV was down -0.91 points or -0.60%,
  • The XBI was down -0.67 points or -0.59% … while
  • The VIX was up +11.67 points or +2.76% at to 26.42

 

Q4 – November - 3 positive and 11 negative closes

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

 

Thursday Closing UP (8 of 8)

  • Vertex (VRTX +$1.29 after Wednesday’s -$14.65, Tuesday’s +$1.50 and Monday’s -$3.13),
  • Entrada Therapeutics (TRDA +$0.44),
  • AxoGen (AXGN +$0.41 after Wednesday’s +$1.27 after Tuesday’s +$0.44),
  • Cellectis SA (CLLS +$0.38 after Wednesday’s +$0.275),
  • Sarepta Therapeutics (SRPT +$0.09 after Wednesday’s -$1.05),
  • Agenus (AGEN +$0.09),
  • MiMedx (MDXD +$0.07),
  • Brainstorm Cell Therapeutics (BCLI +$0.0369),

Flat (1)

  • Harvard Apparatus RT (OTCQB: HRGN) $0.00 after Wednesday’s $0.00, Tuesday’s $0.00, Monday’s $0.00, Friday’s -$0.010 (with 3800 shares traded), Thursday’s $0.00, Wednesday’s -$0.01, Tuesday’s $0.00 and last Monday’s $0.00)

Thursday’s Closing DOWN (10 of 31):

  • Alnylam Pharmaceuticals (ALNY -$14.97 after Wednesday’s -$1.52 after Tuesday’s +$1.76 and Monday’s +$11.38),
  • BioNTech (BNTX -$4.46 after Wednesday’s -$1.12 after Tuesday’s +$0.14 and Monday’s -$0.42),
  • Moderna (MRNA -$1.82 after Wednesday’s -$0.74),
  • CRISPR Therapeutics (CRSP -$1.44 after Wednesday’s -$2.76 after Tuesday’s -$1.85 and Monday’s +$2.79),
  • Vericel (VCEL -$1.10),
  • Supernus Therapeutics (SUPN -$0.91 after Wednesday’s +$0.80 and Tuesday’s -$0.19),
  • Arrowhead Pharma (ARWR -$0.88 after Wednesday’s -$1.51, Tuesday’s +$0.32 and Monday’s -$1.11),
  • Ionis Pharmaceuticals IONS -$0.88),
  • Lenz Therapeutics (LENZ -$0.68 after Wednesday’s +$1.19, Tuesday’s +$1.53 and Monday’s +$0.10),
  • Ultragenyx Pharmaceuticals (RARE -$0.68 after Wednesday’s -$0.96, Tuesday’s +$0.29 and Monday’s -$0.54),

 

The Bottom Line: More of the … WHYs

The C&GT sector extended their losses again on +$ after Wednesday’s Thursday, Wednesday, Tuesday and Monday … with the C&GT sector equities getting “dunked” in the A/D (advance/decline) Line.

 

I am expecting a rebound after all the falling “ice” of this November as expectations were much lower coming into November.

 

The LPS (loss-per-share) earnings depreciated Q3 sector share pricings as post earnings’ performance gor shelacked …

I believe positions investors to be upgraded … well after the Thanksgiving holiday and in December as it is the selling season which gives me some confidence to that “life” will spill-back into the sector

 

I saw 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.

 

November: understand the “flow” …

New week:

  • 11/20 – Thursday closed negative with 8 positive, 31 negative and 1 flat
  • 11/19 – Wednesday closed negative with 10 positive, 27 negative and 3 flats
  • 11/18 – Tuesday closed negative with 18 positive, 21 negative and 1 flat
  • 11/17 – Monday closed negative with 19 positive, 20 negative and 1 flat

Last week:

  • 11/14 - Friday closed negative with 19 positive, 21 negative and 0 flats
  • 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

 

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: Vertex (VRTX), AxoGen (AXGN) and Entrada therapeutics (TRDA)
  • Wednesday: AxoGen (AXGN), Lenz Therapeutics (LENZ) and Supernus Therapeutics (SUPN)
  • Tuesday: Alnylam Pharmaceuticals (ALNY), Lenz Therapeutics (LENZ) and Vertex (VRTX)
  • Monday: Alnylam Pharmaceuticals (ALNY), CRISPR Therapeutics (CRSP) and Ionis Pharmaceuticals (IONS)
  • Friday: Vertex (VRTX), Ionis Pharmaceuticals (IONS) and CRISPR Therapeutics (CRSP)

The worst three (3) in the session:

  • Thursday: Alnylam Pharmaceuticals (ALNY), BioNTech (BNTX) and Moderna (MRNA)
  • Wednesday: Vertex (VRTX), CRISPR Therapeutics (CRSP) and uniQure NV (QURE)
  • Tuesday: CRISPR Therapeutics (CRSP), uniQure NV (QURE) and Vericel (VCEL)
  • Monday: IQVIA Holdings (IQV), Vertex (VRTX) and Vertex (VRTX)
  • Friday: Alnylam Pharmaceuticals (ALNY), IQVIA Holdings (IQV) and BioLife Solutions (BLFS)

 

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.