December 31, 2025 4:43pm

Driven down by a succession of tech and healthcare selling in last sessions of December, Q4 and FY25

Pre-open Signal Results: 3 Hits and 1 Miss

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

Never leave a retail investor uninformed!  It’s not always time to buy or sell; but it is time to KNOW and why! I chose to speak-up when many analysts have shut-up!

Trading was very light ahead of the New Year’s Day holiday Thursday, when markets will be closed.

RMi Research Note: Capricor Therapeutics (CAPR) DUMP before the next big SLUMP! …https://www.regmedinvestors.com/articles/14249

 

Today’s session falls within the Santa Claus Rally, a historically strong 7-day stretch (12/24/25 – 1/5/26) for stocks that spans the final days of December and early January with thin trading volumes

Wednesday: The Dow closed DOWN -303.77 points or -0.63%, the S&P closed DOWN -50.74 points or -0.74% while the Nasdaq closed DOWN -177.089 points or -0.76%

  • Theme of the session: AI enthusiasm wains

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

  • Initial jobless claims totaled a seasonally adjusted 199,000 for the week ended Dec. 27, down 16,000 from the prior week’s level and below the Dow Jones consensus forecast for 220,000. Claims started December at 237,000 and declined each week thereafter. Increases in Michigan and New Jersey were offset by large drops in Texas and California, according to unadjusted numbers. Continuing claims, which run a week behind, fell 47,000 to 1.87 M.

Wednesday’s (my) 40-company covered sector’s advance/decline line opened negative with 7 incliners, 31 decliners and 2 flats ending with a negative close of 18 incliners, 22 decliners and 5 flats

The CBOE Fear (VIX) index, Wednesday closed at 15.03 after Tuesday closed at 14.36, Monday’s 14.15, Friday’s 13.60, Thursday was Christmas, and last Wednesday closed at 13.80

 

Metrics: Tuesday …

  • The RUT was down -18.68 points or -0.75%,
  • The XLV was down -0.88 points or -0.57%,
  • The NBI was down -0.05 points or -0.00%;
  • The XBI was up +0.26 points or +0.26%
  • The IWM was down -1.86 or -0.75%;
  • The IBB was down -0.12 points or -0.07%,
  • The VIX was up +0.70 points or +4.89% at to 15.03

 

Q4/25 – December – 1 holiday, 8 positive and 14 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 18) +$ after Tuesday’s

  • Alnylam Pharmaceuticals (ALNY +$0.40 after Tuesday’s -$1.57 after Monday’s -$1.77),
  • Regenxbio (RGNX +$0.31),
  • Ultragenyx Pharmaceuticals (RARE +$0.22 after Tuesday’s +$3.06 after Monday’s -$14.47),
  • Entrada Therapeutics (TRDA +$0.19),
  • uniQure NV (QURE +$0.15 after Tuesday’s -$0.78),
  • Ionis Pharmaceuticals (IONS +$0.11 after Tuesday’s -$0.99 after Monday’s +$0.05 after Friday’s -$0.72),
  • Generation Bio (GBIO +$0.11),
  • Rocket Therapeutics (RCKT +$0.09),
  • Cellectis SA (CLLS +$0.06)
  • Sarepta Therapeutics (SRPT +$0.03),

Flat (5)

  • Adverum Biotechnologies ADVM) – acquired
  • AxoGen (AXGN)
  • Brainstorm Cell Therapeutics (BCLI)
  • Caribou Biosciences (CRBU)
  • Harvard Apparatus RT (OTCQB: HRGN $0.00 after Tuesday's $0.00 and Tuesday’s $0.00)

Wednesday’s Closing DOWN (10 of 22): 

  • IQVIA Holdings (IQV -$2.26 after Tuesday’s +$0.53 after Monday’s +$0.22),
  • Moderna (MRNA -$0.92 after Tuesday’s -$0.74),
  • Arrowhead Pharmaceuticals (ARWR -$0.86),
  • CRISPR Therapeutics (CRSP -$0.75 after Tuesday’s -$0.78 after Monday’s -$1.11),
  • Vericel (VCEL -$0.72 after Tuesday’s -$0.86),
  • Mesoblast (MESO -$0.54),
  • BioLife Solutions (BLFS -$0.48),
  • Vertex (VRTX +$0.38 after Tuesday’s-$6.04 after Monday’s -$3.12),
  • Supernus Therapeutics (SUPN -$0.19 after Tuesday’s -$1.36 after Monday’s -$0.32),
  • Wave Life Sciences (WVE -$0.19),

 

The Bottom Line: More of the … WHY

Indexes fell on the final day of trading for 2025, a banner year for markets that was driven by both optimism and uncertainty.

For the week:

  • The S&P 500 is down 84.44 points, or 1.2%.
  • The Dow is down 647.68 points, or 1.3%.
  • The Nasdaq is down 351.11 points, or 1.5%.
  • The Russell 2000 is down 52.44 points, or 2.1%.

For 2025:

  • The S&P 500 rose 963.87 points, or 16.4%.
  • The Dow rose 5,519.07 points, or 13%.
  • The Nasdaq rose 3,931.20 points, or 20.4%.
  • The Russell 2000 rose 251.75 points, or 11.3%.

The recent profit-taking could also foreshadow some of the volatility ahead.

Indexes vacillated Wednesday and Tuesday, as trying to regroup after slides continued into the final stretch of 2025.

  • Stuck in the red zone again while trimming share pricings
  • Short-term momentum has essentially been to the downside

As I had also written, cash is king for investors who want to keep some liquidity and avoid having to sell in a down market,

  • I would be following share pricing’s ascension on current biotech, cell and gene therapy sector upsides; so, some profiteering can be “situated” while maintaining a position, less elevated!

Most C&GT sector equities dramatically dived on Wednesday, Tuesday and Monday, after last Friday’s negative close following Christmas on Thursday.

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?

  • It didn't 

 

Last week of December, Q4 and FY25

  • Wednesday closed negative with 18 positive, 22 negative and 5 flats
  • Tuesday closed negative with 7 positive, 31 negative and 2 flats
  • Monday closed negative with 12 positive, 24 negative and 4 flats

4th week of December:

  • Friday closed negative with 11 positive, 28 negative and 1 flat
  • Thursday was a holiday
  • Wednesday closed positive with 31 positive, 5 negative and 4 flats - not published
  • Tuesday closed negative with 14 positive, 24 negative and 2 flats
  • Monday closed positive with 30 positive, 8 negative and 2 flats

3rd week of December:

  • 12/19 - Friday closed positive with 27 positive, 10 negative and 3 flats
  • 12/18 – Thursday closed positive with 22 positive, 16 negative and 2 flats
  • 12/17 – Wednesday closed negative with 12 positive, 26 negative and 2 flats
  • 12/16- Tuesday closed negative with 17 positive, 21 negative and 2 flats
  • 12/15 – Monday closed negative with 15 positive, 23 negative and 2 flats

2nd December week:

  • 12/12 – Friday closed negative with 12 positive, 26 negative and 2 flats
  • 12/11 – Thursday closed negative with 18 positive, 19 negative and 3 flats
  • 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

The previous 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!

 

Welcome to my world of defining the “grey’ in our universe!

  • 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!
  • if I wanted to be liked, I wouldn’t have been an analyst/journalist.

 

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: Alnylam Pharmaceuticals (ALNY), Regenxbio (RGNX) and Ultragenyx Pharmaceuticals (RARE)
  • Tuesday: Ultragenyx Pharmaceuticals (RARE), IQVIA Holdings (IQV) and Compass therapeutics (CMPX)
  • Monday: BioNTech (BNTX), AxoGen (AXGN) and Capricor Therapeutics (CAPR)

The worst three (3) in the session:

  • Wednesday: IQVIA Holdings (IQV), Moderna (MRNA) and Arrowhead Pharmaceuticals (ARWR)
  • Tuesday: Vertex (VRTX), Arrowhead Pharmaceuticals (ARWR) and Alnylam Pharmaceuticals (ALNY)
  • Monday: Ultragenyx Pharmaceuticals (RARE), Vertex (VRTX) 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.