RMi Pre-opening: Tug-of-pricing

February 4, 2026 8:00am

Those that were down versus multiples of yesterday’s ups

Rotations and tech sell-offs still a problem

News <to help, in defence of offering>: Sangamo Therapeutics (SGMO +$0.03 pre-open) detailed data from the registrational Phase 1/2 STAAR study evaluating isaralgagene civaparvovec, or ST-920, a wholly owned gene therapy product candidate for the treatment of Fabry disease. SGMO believes that the totality of data demonstrates the potential of isaralgagene civaparvovec as a one-time, well-tolerated and durable gene therapy treatment option for Fabry disease to provide meaningful, multi-organ clinical benefits that could fundamentally shift the Fabry treatment paradigm.

Pre-open Signals: passing on prediction, not a good “prognosis” today; If you understand probabilities, the inevitable is easier to maneuver

Never leave retail investor uninformed … I say what others won’t, so you can do what others can’t!

“I hate to be considered 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!”

RMi Closing Bell: Risk’s craters Monday’s script … https://www.regmedinvestors.com/articles/14296

RMi Finance Note: Sangamo Therapeutics (SGMO) Offering 35.19 M shares priced at $0.4719 … https://www.regmedinvestors.com/articles/14295   

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

Wednesday: The pre-open Dow futures are UP +0.21% or (+106 points), the S&P futures are UP +0.17% or (+12 points) and the Nasdaq futures are DOWN -0.14% or (-35 points)

• U.S. stock futures are rolling higher with Nasdaq still fluctuating to the downside on Wednesday, 2/4
• European markets opened flat then moved higher,
• Asia Pacific markets were higher

Economic Data: 3 and a talking head

• 8:15 am                ADP employment            Jan.                        45,000   41,000
• 9:45 am                S&P final U.S. services PMI           Jan.                        52.5        52.5
• 10:00 am             ISM services       Jan.                        53.5%    54.4%
• 6:30 pm               Fed Governor Lisa Cook - (yet unindicted) speaks

Henry’omics: We need to more than consider the market’s setting to grasp the micro re “our” universe of cell and gene therapy companies

• Tuesday: The Dow closed DOWN -166.67 points or -0.34%, the S&P closed DOWN -58.63 points or -0.84% while the Nasdaq closed DOWN -336.9222 points or -1.43%
• Monday: The Dow closed UP +515.19 points or +1.05%, the S&P closed UP +37.41 points or +0.54% while the Nasdaq closed UP +130.292 points or +0.56%

• Last week: The S&P 500 closed up +0.04% and the Nasdaq -0.2%, while the Dow dropped -0.2%.
• The previous week: The S&P 500 was down -0.4%, the Dow -0.4% and the Nasdaq was down -0.1%.
• January: The S&P 500, Dow were up more than 1% and the Nasdaq had a 0.7% gain.

Q1/26 – Q1 February – 1 positive and 1 negative closes

• January – 2 holiday, 2 neutral, 9 negative and 9 positive closes  

Q4 – December,

• 1 holiday, 8 positive and 12 negative closes
• November, 1 holiday, 8 positive and 11 negative sessions
• October, 1 neutral, 10 positive and 12 negative closes

Companies in my headlights – It’s your decision; I provide ideas and context

I post about “indication intelligence” looking toward investment conferences … to assist investors with insight into sector vulnerabilities and strengths.  A dictionary definition of “indicate” refers to something less than a certainty; an indication could be a signal of being oversold or overbought, a recommendation, or grounds for inferring or a basis for believing.

• Many earnings this week and the beginning of sector releases - watch belows

The BOTTOM LINE: Welcome to my world of defining the “grey’ in our universe!

Key word, "shifting" … you know what that has meaned … rangebound for weeks or months; that makes it hard to gain any traction, especially with new positions.

Dow futures rose slightly early Wednesday, along with S&P 500 futures; however, Nasdaq futures fluctuating.

Although, stocks seem to be rising pre-opening bell following the end of partial government shutdown; more tech earnings on deck

Eli Lilly (LLY) reports today, a macro mover for or sector …

• LLY earnings and sales easily beat Q4 views and guided solidly higher 2026. The drug giant cited strong sales of weight loss drug Zepbound and diabetes treatment Mounjaro.
• LLY stock jumped before the open, signaling a gap back above the 50-day moving average and breaking a downtrend in an emerging base. Shares fell 3.9% Tuesday as weight-loss rival Novo Nordisk (NVO) dived Tuesday on a weak 2026 outlook.
• LLY stock could near another early entry at 1,095.48. The potential consolidation buy point would be 1,113.95.

Since, the Q4 and FY25 earnings cycle is about to appear beginning 2/5 and 2 more on 2/14

• 2/5 – Arrowhead Pharmaceuticals (ARWR)
• 2/5 – IQVA Holdings (IQV)
• 2/12 - Vertex (VRTX)
• 2/13 – Moderna (MRNA)

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.

February begins …

• Tuesday closed negative with 18 incliners, 21 decliners and 1 flat              
• Monday closed positive with 29 incliners, 10 decliners and 1 flat

January – the last week:

• 1/30 – Friday closed negative with 6 incliners, 32 decliners and 2 flat
• 1/29 - Thursday closed positive with 22 incliners, 17 decliners and 1 flat
• 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

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!

• I am more frequently right than consequentially wrong; if I wanted to be liked, I wouldn’t have been an analyst/journalist.

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. All investments are subject to risks. Investors should consider investment objectives.

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.  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.