January 28, 2026 4:41pm

Leaving the benchmark federal funds rate unchanged. How many times am I…  RIGHT, expectation fulfilled; time to follow RMi more closely

News: REGENXBIO (RGNX -$2.35 or -17.54% to $11.06) FDA placed a clinical hold on its investigational gene therapy, RGX-111, for the treatment of MPS I, also known as Hurler syndrome, following preliminary analysis of a single case of neoplasm (intraventricular CNS tumor) in a participant treated in its P1/2 study. The FDA also placed a clinical hold on a separate RGX-121, for the treatment of MPS II, also known as Hunter Syndrome, citing the similarities in products, study populations, and shared risk between the clinical studies.

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!

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: Calibrate momentum … https://www.regmedinvestors.com/articles/14286

 

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

 

Wednesday: The Dow closed UP +12.37 points or +0.03%, the S&P closed DOWN -0.56 points or -0.01% while the Nasdaq closed UP +40.349 points or +0.17%

  • Theme of the session: always awaiting … and the expectation was on point - nada

Wednesday’s (my) 40-company covered sector’s advance/decline line opened negative with 5 incliners, 34 decliners and 1 flat ending with a negative close of 4 incliners, 35 decliners and 1 flat

  • Tonight’s attitude for tomorrow: Microsoft, Meta Platforms and Tesla are set to post their quarterly financial results after the closing bell. Apple will post its results on Thursday.

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

  • Fed policymakers voted to leave the benchmark federal funds rate unchanged at its current range of 3.5% to 3.75%. The move follows three successive 25 basis point rate cuts in September, October and December to close out last year.
  • The Federal Open Market Committee (FOMC) voted 10-2 in favor of leaving rates unchanged, with dissents by Fed Governors Stephen Miran and Christopher Waller, who were in favor of 25 basis point cuts.

The CBOE Fear (VIX) index, Wednesday closed at 16.40, after Tuesday’s 16.22, Monday’s 16.09, after Friday’s 15.92, Thursday’s 15.65 and last Wednesday’s 16.99

Metrics: Wednesday …

  • The RUT was down -13.22 points or -0.50%,
  • The XLV was down -1.16 points or -0.75%,
  • The NBI was down -100.53 points or -1.68%;
  • The XBI was down -2.59 points or -2.02%
  • The IWM was down -1.36 or -0.51%;
  • The IBB was down -2.87 points or -1.62%,
  • The VIX was up +0.05 points or +0.31% at to 16.40

 

Q1/26 – 2 holidays, 2 neutral, 8 negative and 8 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

 

Wednesday Closing UP (4 of 4)

  • Voyager Therapeutics (VYGR +$0.03),
  • Brainstorm Cell therapeutics (BCLI +$0.0479),
  • Entrada Therapeutics (TRDA +$0.15),
  • Vertex (VRTX +$3.74 after Tuesday’s -$2.67 after Monday’s +$8.43),

Flat:

  • Harvard Apparatus RT (OTCQB: HRGN $0.00, Tuesday’s -$0.04 and Monday’s +$0.06)

Wednesday’s Closing DOWN (10 of 35): 

  • Alnylam Pharmaceuticals (ALNY -$5.17 after Tuesday’s -$6.60 after Monday’s +$3.37),
  • BioNTech (BNTX -$3.18 after Tuesday’s +$1.34 after Monday’s +$2.02),
  • Regenxbio (RGNX -$2.40 after Tuesday’s -$0.44),
  • BioLife Solutions (BLFS -$2.04),
  • Capricor Therapeutics (CAPR -$1.95 after Tuesday’s -$0.10 and Monday’s +$0.24),
  • Beam Therapeutics (BEAM -$1.68 after Tuesday’s -$0.25 after Monday’s -$0.61)
  • uniQure NV (QURE -$1.35 after Tuesday’s -$0.90),
  • Arrowhead Pharmaceuticals (ARWR -$1.33),
  • IQIA Holdings (IQV -$1.33 after Tuesday’s +$1.73 after Monday’s +$4.12),
  • Intellia Therapeutics (NTLA -$1.01 after Tuesday’s +$0.88 after Monday’s -$0.68),

 

The Bottom Line: More of the … WHY

Fed pause on rates …

  • … the Fed's first interest-rate decision of 2026 came and went as expected, as the central bank kept rates unchanged in a range of 3.5% to 3.75%, in a 10-2 decision. Governors Chris Waller and Stephen Miran dissented, voted in favor of a 25-basis point cut.

The rate decision also comes amid a period of political tension for the central bank, as the Trump administration in recent weeks opened a criminal investigation against Powell over his Senate testimony about renovations of the central bank’s headquarters. <Yahoo Finance>

  • Many are watching for Trump to announce Powell's successor, which Trump has said could happen any day now. 

Indexes fractionalized … Dow up, S&P down and Nasdaq up

A more than real issue facing the economy is a “possible” government shutdown is looming as Senate Democrats attempt to block a bill funding the Department of Homeland Security.

 

RISK is always a factor remaining below the surface …  boiled-up as slight shocks of profiteering on upsides shook but not rocked 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,

 

January – 5th week: "our" universe of my 40 covered companies

  • 1/28 - Wednesday closed negative with 4 incliners, 35 decliners and 1 flat
  • 1/27 - Tuesday closed positive with 21 incliners, 19 decliners and 0 flat
  • 1/26 -Monday closed positive with 19 incliners, 18 decliners and 3 flats

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

  • Wednesday: Vertex (VRTX), Entrada therapeutics (TRDA) and Brainstorm Cell Therapeutics (BCLI)
  • Tuesday: IQIA Holdings (IQV), BioNTech (BNTX) and Ionia Pharmaceuticals (IONS)
  • Monday: Vertex (VRTX), IQIA Holdings (IQV) and Alnylam Pharmaceuticals (ALNY)

The worst three (3) in the session: Losers

  • Wednesday: Alnylam Pharmaceuticals (ALNY), BioNTech (BNTX) and Regenxbio (RGNX)
  • Tuesday: Alnylam Pharmaceuticals (ALNY), Vertex (VRTX) and Moderna (MRNA)
  • Monday: CRISPR Therapeutics (CRSP), Moderna (MRNA) and Intellia therapeutics (NTLA)

 

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.