December 10, 2025 4:42pm

Indexes bucked-up after 25 basis points Fed rate cut; but Powell signaled that another reduction was not certain for December

RMi collects, curates, 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

My opinion: Is Capricor Therapeutics (CAPR from 12/2’s $6.36 to +$28.67) overbought/inflated after recent dramatic pricing rise post positive clinical news run-up and questionable quick-step offering financing? <see The Bottom Line>

It’s not always time to buy or sell; but it is time to KNOW and why!

Never leave an investor uninformed!  

A record close on Wednesday …

Wednesday’s Pre-open Bell: No guarantee … https://www.regmedinvestors.com/articles/14223

RMi Research Note: Harvard Apparatus GT (OTCQB: HRGN): I reiterate WHO is PACKING the Pig that’s Broke … https://www.regmedinvestors.com/articles/13812

The 10-year U.S. Treasury yield could rise if the Fed comes off too hawkish at Wednesday’s policy announcement. That could result in a hit for stocks. <Piper Sandler warned>

 

Wednesday: The Dow closed UP +497.46 points or +1.05%, the S&P closed UP +46.17 points or +0.67% while the Nasdaq closed UP +77.669 points or +0.33%

  • Theme of the session: Fed decision -1/4 point

Wednesday’s (my) 40-company covered sector’s advance/decline line opened negative with 15 incliners, 22 decliners and 3 flats ending with a positive close of 24 incliners, 12 decliners and 4 flats

  • The Fed rate cut, which marks its 3rd in a row, brings the federal funds rate to a range of 3.50%-3.75%.
  • Also, the Fed announced it would once again buy short-term bonds, driving down the short-term yields

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 employment cost index rose 0.8% for the period, down 0.1% point from the prior period and below the consensus estimate for 0.9%. The increase matched the smallest gain since Q3/2020. On an annual basis, the index increased 3.5%, down slightly from Q2.

The C&GT sector closed positive while the CBOE Fear (VIX) index closed at 15.84 after Tuesday’s 16.90 and Monday’s 16.55

 

Metrics: Wednesday …

  • The RUT was up +33.36 points or +1.32%,
  • The XLV was up +2.18 points or +1.46%,
  • The NBI was up +59.09 points or +1.05%;
  • The XBI was up +0.86 points or +0.71%
  • The IWM was up +3.45 or +1.37%;
  • The IBB was up +1.84 points or +1.10%,
  • The VIX was down -1.09 points or -6.43% at to 15.84

 

Q4 – December – 4 positive and 4 negative closes

  • November – 1 holiday, 8 positive and 11 negative closes
  • October -1 neutral, 11 positive and 12 negative closes

 

Wednesday Closing UP (10 of 24) 

  • Vertex (VRTX +$7.63 after Tuesday’s -$5.03 after Monday’s -$13.44),
  • IQVIA Holdings (IQV +$5.19 after Tuesday’s -$5.51 after Monday’s -$2.28),
  • Capricor Therapeutics (CAPR +$1.29 after Tuesday’s -$1.18 after Monday’s +$1.67),
  • Beam Therapeutics (BEAM +$0.92 after Tuesday’s -$0.62),
  • Moderna (MRNA +$0.79 after Tuesday’s +$0.27),
  • Supernus Therapeutics (SUPN +$0.74 after Tuesday’s -$1.74 after Monday’s +$1.48),
  • CRISPR Therapeutics (CRSP +$0.55),
  • Cellectis SA (CLLS +$0.54),
  • Regenxbio (RGNX +$0.34 after Tuesday’s -$0.52),
  • Mesoblast (MESO +$0.29 after Tuesday’s +$0.65),

Flat (4)

  • Adverum Biotechnologies ADVM) - acquired
  • Brainstorm Cell Therapeutics (BCLI $0.00 after Friday’s $0.00),
  • Entrada Therapeutics (TRDA)
  • MiMedx (MDXG)

Wednesday’s Closing DOWN (10 of 12): 

  • Alnylam Pharmaceuticals (ALNY -$10.76 after Tuesday’s -$14.81 after Monday’s -$28.10),
  • Lenz Therapeutics (LENZ -$1.41),
  • WVE Life Sciences (WVE -$1.08 after Tuesday’s +$2.79 after Monday’s +$11.03),
  • Vericel (VCEL -$0.74 after Tuesday’s +$1.08 after Monday’s +$1.07),
  • uniQure NV (QURE -$0.64 after Tuesday’s -$0.99 after Monday’s +$0.44),
  • AxoGen (AXGN -$0.60),
  • Ultragenyx Pharmaceuticals (RARE -$0.30),
  • Ionis Pharmaceuticals (IONS +$0.23 after Tuesday’s -$2.65 after Monday’s -$0.17)
  • BioNTech (BNTX -$0.11),
  • Harvard Apparatus RT (OTCQB: HRGN -$0.06 with 600 shares traded after Tuesday’s $0.00 with 600 shares traded after Monday’s +$0.18 with 6,900 shares traded) – PONZI!

 

The Bottom Line: More of the … WHYs

Back on the merry-go-round …

Interesting … caution flags questions where Fed policy is headed with featured “no” votes from 3 members, which hasn’t happened since September 2019.

  • The Fed decision drew dissents on both sides. Kansas City Fed president Jeff Schmid and Chicago Fed president Austan Goolsbee disagreed with the decision, preferring to hold rates steady. On the other side, Fed governor Stephen Miran pushed to cut rates by a ½% point. <Yahoo Finance>

Most C&GT sector equities inclined Wednesday after declining on Tuesday, follow-by positive closes on Monday, then last Friday’s dive, Thursday and Wednesday positive closes following negative closes on the previous Tuesday and Monday.

Another halleluiah …

  • The Russell 2000 (RUT) index of small-cap companies hit another fresh all-time high Wednesday afternoon. The index, which was recently up about 1.5%, is on pace for a record close. Investors have piled into the RUT over the last two trading weeks on the prospect of Fed interest rate cuts, given that smaller companies tend to benefit from lower borrowing costs. The RUT is up about 14.9% for the year, trailing behind the S&P 500′s roughly 17.2% gain year to date. <CNBC>

 

Back to MY opinion (from title): Capricor Therapeutics (CAPR +$1.29) is overvalued, overbought and headed to a BIG slide … I would also ask if the SEC should investigate the post news run-up and the sudden offering financing pricing … 12/2 pricing, $6.36, offering price of $25.00 to today’s $28.67???

Not anyone else is on the same page:

  • Remaining risks are tied to HOPE-3 and potential priority review dynamics
  • Make your own decision to CUT-BACK as regulatory moving pieces will shape the investment narrative
  • Investors may wish to stay informed to better track and interpret future shifts in CAPR's soon to be evolving story – can you afford to wait and possibly take a hit out-of-the-blue.

 

Take it a session at a time … the REAL question is … how long will this sentiment and conviction “run” last in the “clean-out-the-exposure” December?

A question does NOT answer an inquiry; investors need more than a few catalysts that could revive a rally, I do NOT expect end end-of-year flurry!

  • Depleted market valuations and the uncertain payoff from heavy spending as we get closer to 2025 ends and then coming Q4 and FY25 financial and achievement results

 

2nd December week:

  • 12/10 – Wednesday closed positive with 24 positive, 12 negative and 4 flats
  • 12/9 - Tuesday closed negative with 10 positive, 27 negative and 3 flats
  • 12/8 - Monday closed positive with 22 positive, 16 negative and 2 flat

Last week,  

  • 12/5 – Friday closed negative with 13 positive, 26 negative and 1 flat
  • 12/4 – Thursday closed positive with 26 positive, 12 negative and 2 flats
  • 12/3 – Wednesday closed positive with 35 positive, 4 negative and 1 flat
  • 12/2 - Tuesday closed negative with 10 positive, 29 negative and 1 flat
  • 12/1 – Monday closed negative with 5 positive, 31 negative and 0 flat

 

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.

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 facts and truth are its products; 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:   

  • Wednesday: Vertex (VRTX), IQVIA Holdings (IQV) and Capricor Therapeutics (CAPR)
  • Tuesday: Wave Life Sciences (WVE), Mesoblast (MESO) and Vericel (VCEL)
  • Monday: Wave Life Sciences (WVE), Arrowhead Pharma (ARWR) and Capricor Therapeutics (CAPR)

The worst three (3) in the session:

  • Wednesday: Alnylam Pharmaceuticals (ALNY), Lenz Therapeutics (LENZ) and Wave Life Sciences (WVE)
  • Tuesday: Alnylam Pharmaceuticals (ALNY), IQVIA Holdings (IQV) and Vertex (VRTX)
  • Monday: Alnylam Pharmaceuticals (ALNY), Vertex (VRTX) and AxoGen (AXGN),

 

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.