January 23, 2026 4:48pm

By news of easing trade tensions and geopolitical risk

Or bypassing the eventuality of the next … Iran

RMi collects, curates, interprets and disseminates cell and gene therapy sector (C&GT) fact-based news, trustable and verified intel of share pricing data bridging 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 why!

TGIF, G&T time as I publish

No Don Quixote as I continually ask, what do all these stock sources, I-Banks and brokers do for you in providing daily information? Availability of data have made intel both complex; I see myself as a collector and my responsibility is to further identify and interpret data to bridge some gaps in an investment decision.

RMi Pre-opening: Sentiment succumbs … https://www.regmedinvestors.com/articles/14279

 

I chose to speak-up when many analysts, brokers and commentators have shut-up!

Friday: The Dow closed DOWN -285.30 points or -0.58%, the S&P closed UP +2.26 points or +0.03% while the Nasdaq closed UP +65.225 points or +0.28%

  • Theme of the session: share pricings are downsized

Friday’s (my) 40-company covered sector’s advance/decline line opened negative with 10 incliners, 29 decliners and 1 flat ending with a negative close of 6 incliners, 33 decliners and 1 flat

  • The Russell 2000 pulled back sharpy from all-time highs on Friday. The index closed -1.7% and –0.3% for the week, on track for its worst day since November. With that decline.

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

  • University of Michigan survey, Consumer sentiment improved in January coming-in at 56.4, up 6.6% from December though still down 21.3% from a year ago. The reading was better than the 54-consensus estimate. The current conditions index rose 9.9% while the expectations gauge was up 4.4%. On inflation, the 1-year outlook slipped to 4%, down 0.2% point from the prior month and the lowest level since January 2025. However, the 5-year outlook increased to 3.3%, up 0.1%.
  • S&P Global Manufacturing and services activity both were positive in January but reflected a slower growth pace for the U.S. economy; came-in at 51.9, a nudge higher than December but below the consensus forecast for 52.1. On the services side, the PMI survey was at 52.5, unchanged from the prior month but below the estimate for 53. Anything above 50 represents growth.

The CBOE Fear (VIX) index, Friday closed at 15.92, after Thursday’s 15.65, Wednesday’s 16.99, Tuesday’s 20.17, Monday was a holiday and last Friday closed at 15.86

Metrics: Friday … another reversal

  • The RUT was down -49.60 points or -1.82%,
  • The XLV was down -0.81 points or -0.51%,
  • The NBI was down -84.87 points or -1.41%;
  • The XBI was down -3.47 points or -2.64%
  • The IWM was down -4.99 or -1.85%;
  • The IBB was down -2.31 points or -1.30%,
  • The VIX was up +0.28 points or +1.79% at to 15.92

 

Q1/26 – 2 holidays, 2 neutral, 5 negative and 5 positive closes

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

 

Friday Closing UP (6 of 66) Monday was a holiday

  • uniQure NV (QURE +$2.39),
  • Vertex (VRTX +$1.06 after Thursday’s +$5.21 after Wednesday’s +$19.06 after Tuesday’s +$0.72 after Friday’s +$2.44),
  • AxoGen (AXGN +$0.83 after Thursday’s -$1.01),
  • Ultragenyx Pharmaceuticals (RARE +$0.81),
  • Cellectis SA (CLLS +$0.095),
  • Harvard Apparatus RT (OTCQB: HRGN +$0.08), <trying to JUSTIFY their "Exempt finacing"

Flat (1)

  • Brainstorm Cell Therapeutics (BCLI),

Thursday’s Closing DOWN (10 of 33): Monday was a holiday

  • Alnylam Pharmaceuticals (ALNY -$12.02 after Thursday’s +$4.54 after Wednesday’s +$9.93 after Tuesday’s -$3.46 after Friday’s -$0.33),
  • CRISPR Therapeutics (CRSP -$5.28 after Thursday’s +$6.07 after Wednesday’s +$2.12 after Tuesday’s -$0.90 after Friday’s -$0.70),
  • IQIA Holdings (IQV -$3.75 after Thursday’s -$2.55 after Wednesday’s +$7.65 after Tuesday’s -$4.05 after Friday’s -$3.61),
  • Moderna (MRNA -$3.08 after Thursday’s +$2.06 after Wednesday’s +$6.81 after Tuesday’s +$1.16 after Friday’s +$2.48),
  • Beam Therapeutics (BEAM -$2.70 after Thursday’s +$3.14),
  • Arrowhead Pharmaceuticals (ARWR -$2.54 after Thursday’s +$1.99 after Wednesday’s +$2.32 after Tuesday’s +$1.44 after Friday’s -$2.41),
  • BioNTech (BNTX -$2.49),
  • Regenxbio (RGNX -$2.19),
  • Ionis Pharmaceuticals (IONS -$1.55 after Thursday’s +$2.35 after Wednesday’s +$1.91 after Tuesday’s +$1.20 after Friday’s -$0.88),
  • Vericel (VCEL -$1.29 after Thursday’s +$1.42 after Wednesday’s +$1.43 after Tuesday’s -$1.11 after Friday’s -$1.17),

 

The Bottom Line: More of the … WHY

Indexes U.S. were mixed on Friday, as the Nasdaq was poised to extend its latest gains amid easing geopolitical fears while the S&P 500 while the Dow underperformed.

  • All 3 major indexes posted back-to-back weekly losses.

For the week:

  • The S&P 500 is down 24.40 points, or 0.4%.
  • The Dow is down 260.62 points, or 0.5%.
  • The Nasdaq is down 14.14 points, or 0.1%.
  • The Russell 2000 is down 8.58 points, or 0.3%.

Investors are bracing for a blockbuster earnings week next week, along with the Federal Reserve's meeting and interest rate decision.

  • Trump said Thursday he has a pick for the next Fed chair in mind after wrapping up interviews, and he will name the replacement for Jerome Powell "soon." <Yahoo Finance>

The dramatic volatility could also foreshadow some of the profit-taking ahead and …

  • RISK is always a factor remaining and … will boil-up under the surface until or as slight shocks rock the C&GT sector and markets!

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!

 

January – 4th week:

  • 1/23 – Friday closed negative with 6 incliners, 33 decliners and 1 flat
  • 1/22 – Thursday closed positive with 33 incliners, 6 decliners and 1 flat
  • 1/21 – Wednesday closed positive with 33 incliners, 6 decliners and 1 flat
  • 1/20 - Tuesday closed negative with 16 incliners, 22 decliners and 2 flats
  • 1/19 – Monday was a market holiday, MLK Jr day

 

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!

 

Why do I keep repeating, framed in a different para, so investors can make the connection

The top three (3) performing in the session:    Winners

  • Friday: uniQure NV (QURE), Ultragenyx Pharmaceuticals (RARE) and Vertex (VRTX)
  • Thursday: Vertex (VRTX), CRISPR Therapeutics (CRSP) and Alnylam Pharmaceuticals (ALNY)
  • Wednesday: Vertex (VRTX), BioNTech (BNTX) and IQIA Holdings (IQV),
  • Tuesday: Arrowhead Pharmaceuticals (ARWR), Ionis Therapeutics (IONS) and Moderna (MRNA)
  • Monday was holiday

The worst three (3) in the session: Losers

  • Friday: Alnylam Pharmaceuticals (ALNY), CRISPR Therapeutics (CRSP) and Moderna (MRNA)
  • Thursday: IQIA Holdings (IQV), AxoGen (AXGN) and Supernus therapeutics (SUPN)
  • Wednesday: uniQure NV (QURE), Supernus Therapeutics (SUPN) and Ultragenyx Pharmaceuticals (RARE)
  • Tuesday: IQIA Holdings (IQV), Alnylam Pharmaceuticals (ALNY) and BioNTech (BNTX),
  • Monday was holiday

 

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.